first crash after Apple opened its own stores in India It’s not a rival, but its own premium reseller – Imagine – that has shut its doors nine years after opening a store in south Delhi’s Select Citywalk, where the United States-headquartered The technology firm has opened its second store. country last week. The premium reseller was also not part of the 20-odd brand list that Apple banned malls from opening stores near its outlets.
An official said, “The mall operator did not extend the lease of Imagine as it felt that the company-owned store would generate more sales and there was no need for another company selling the same brand.” did not respond to ET’s queries till press time.
According to people aware of the information, Apple has about half a dozen authorized resellers in India offering customers additional cashback and discounts on product sales. The Imagine store at Select CityWalk opened in 2014 and the store’s owner was told by the mall operator that it would not extend the lease.
“Most retailers have a nine-year lease, with a rent increase every three years. For premium brands, mall operators usually extend at the end of the lease. If Apple were to open a flagship store elsewhere in Delhi, Had the decision been taken, Kalpana’s shop would have continued.” Operating it,” said another person.
Select Infrastructure Pvt Ltd had signed a lease with Apple in July 2022 and thereafter communicated to spec, suggesting that it would not be able to extend the lease despite the good performance of the stores.
In the contract, Apple lists 20 brands it cannot have a store – Amazon, Bose, Devialet, Facebook, Foxconn, Alphabet/Google, Huawei, Intel, Lenovo, LG, Microsoft, Nest, Nokia, Panasonic, Samsung, Sony, Vivo, Xiaomi, Oppo and OnePlus.
An official said, “The mall operator did not extend the lease of Imagine as it felt that the company-owned store would generate more sales and there was no need for another company selling the same brand.” did not respond to ET’s queries till press time.
According to people aware of the information, Apple has about half a dozen authorized resellers in India offering customers additional cashback and discounts on product sales. The Imagine store at Select CityWalk opened in 2014 and the store’s owner was told by the mall operator that it would not extend the lease.
“Most retailers have a nine-year lease, with a rent increase every three years. For premium brands, mall operators usually extend at the end of the lease. If Apple were to open a flagship store elsewhere in Delhi, Had the decision been taken, Kalpana’s shop would have continued.” Operating it,” said another person.
Select Infrastructure Pvt Ltd had signed a lease with Apple in July 2022 and thereafter communicated to spec, suggesting that it would not be able to extend the lease despite the good performance of the stores.
In the contract, Apple lists 20 brands it cannot have a store – Amazon, Bose, Devialet, Facebook, Foxconn, Alphabet/Google, Huawei, Intel, Lenovo, LG, Microsoft, Nest, Nokia, Panasonic, Samsung, Sony, Vivo, Xiaomi, Oppo and OnePlus.