After the grand opening of Apple’s first retail store in India at Mumbai’s Bandra Kurla Complex (BKC) on Tuesday, CEO Tim Cook is all set to inaugurate its second store called the ‘Apple Saket’ in New Delhi on April 20th. Apple Saket will open for customers on Thursday at 10 a.m. IST.
According to the Cupertino-based company, Apple Saket features a unique design that takes inspiration from Delhi’s many gates, each signifying a new chapter to the city’s storied past. The new retail location will offer new ways to browse, discover, and buy Apple products with exceptional service and experiences for customers.
“The colorful artwork celebrates Apple’s second store in India — located right in the nation’s capital," Apple said in a statement.
Beginning April 20, customers will be able to stop by to explore Apple’s latest product lineup, find creative inspiration, and get personalized service and support from the store’s team of Specialists, Creatives, and Geniuses, the iPhone maker said.
According to documents shared by CRE Matrix, the lease deed for the Delhi store, located on the first floor of the Select City Walk Mall in south Delhi, was signed on July 18, 2022, between Select Infra and Apple India for 10 years. Apple has the option to renew the lease for another five years but will have to give a notice of at least six months, said a Moneycontrol report.
It has a rent of about Rs 40 lakh per month.
“Apple has signed a lease with Select Citywalk mall for 8,400 sq. ft. of space at a rent of approximately 475 per sq. ft. plus CAM (Common Area Maintenance charges). The rental is about Rs 40 lakh per month. This is a 10-year lease with a five-year lock-in with 15 percent escalation every three years. The average store size in this Mall is about 1,500-2,000 sq. ft. The rentals have seen a steady increase in the period post COVID-19. This is not the largest store," the Moneycontrol report quoted Gagan Randev, executive director (capital markets) at India Sotheby’s International Realty, as saying.
Meanwhile, Apple CEO Tim Cook is also scheduled to meet with India’s Prime Minister, Narendra Modi, and Deputy IT Minister Rajeev Chandrashekar during his visit to India.
Cook on Tuesday took to the micro-blogging platform Twitter and said that the energy in Mumbai is incredible after the launch of its first retail store in the country. “The energy, creativity, and passion in Mumbai is incredible! We are so excited to open Apple BKC — our first store in India," Apple CEO tweeted.
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