Google, Facebook, Amazon and 19 other brands can’t open shops near Apple Mumbai store

More details about the store have appeared online. According to a report in The Economic Times, 22 “competing brands” may not have space or may not have advertisements Apple’s first store in country. The report cites an exclusive lease agreement that was obtained by CRE Matrix, an information analysis company.

As per the agreement, Apple Jio World Drive Mall, owned by Mukesh Ambani, will have a lease of over 11 years. The Apple Store will be located in an area of ​​approximately 20,800 square feet. Apple will pay the monthly rent 42 lakhs with an annual growth of 15 per cent. Additionally, the company will share 2 percent of its revenue for the first three years. Thereafter, the contribution of revenue share will increase to 2.5 per cent.

Which brands cannot have stores near the Apple Store in Mumbai?

Now coming to the list of stores which cannot open store near Apple BKC. There will be 22 rival brands, however, the list only includes 21 names – Amazon, Facebook, Google, LG, Microsoft, Sony, Twitter, Bose, Dell, Devialet, Foxconn, Garmin, Hitachi, HP, HTC, IBM, Intel, Lenovo , Nest, Panasonic and Toshiba. The name of the 22nd competing brand could be Samsung.

Apple is reportedly planning to open another retail store in India. The second store will be located in New Delhi. However, the New Delhi one will be smaller as compared to the Apple BKC store in Mumbai. Here are the details of the upcoming Apple Mumbai store officially confirmed by the company:

• The logo of Apple BKC is inspired by Mumbai’s iconic Kali Peeli taxi art.
• The Apple BKC store will welcome people with the classic Apple greeting “Hello Mumbai”.
• Apple has created a special playlist on Apple Music to celebrate the opening of its first Indian retail store.

Apple hasn’t announced when the store will be fully operational, but according to rumors, it could open as early as April.