India is now catching up with euphoria of Apple products. Owing to the huge success of iPhone, iPad and other various Apple products in the country, Apple along with Reliance Retail, one of its exclusive franchisees, has planned to increase the exclusive stores of Apple to 200 by the end of 2015. iStore by Reliance Retail is an exclusive Apple Premium Reseller i.e. it caters to all the Apple products demands of the country. Reliance Retail is the retail arm of Reliance Industries Limited (RIL), led by Mukesh Ambani.
The Cupertino-based gadgets giant has devised multiple strategies to grow in India which will be executed aggressively. It also plans to expand its presence in multi-brand stores. India had been on a very low priority for expansion for Apple. But since this big market is being slowly captured by another South –Korean conglomerate, it is the right time for Apple to give a serious thought to India. Apple plans to open exclusive stores like iStore and also increasing the current number of iStores across the country. Such is the growth perspective of this new market that to own a smartphone and tablet by Apple are now perceived as status symbol by most Indians. As a part of this decision, iPhones now might be available on equated monthly installment (EMI) schemes.
iStores across the country will also see expansion by Reliance Retail. iStore along with 20 stores is the largest premium reseller in the country. Brian Bade, CEO Reliance Digital said that there are several new places which are by far being considered by building new stores. The designs of existing ones and the newer ones will now be based on the model stores of Apple to provide a world class experience for the consumers. “It is all about creating a superior consumer experience.” added Bade. As such there has not been any specific target given by Apple to Reliance Digital to increase the number of stores. As the market for Apple is growing remarkably well, Reliance Retail is considering prime properties in the range of around 800 sq.ft to 2,000 sq.ft for the future Apple stores. According to the reports, iPhone is the second highest revenue grosser across the country. With the expansion of exclusive Apple stores by Reliance in the country, there would be an exponential growth in the loyal fan base of this brand, as experts say.
With Apple being in the business for long and Reliance Retail knowing the nerves of Indian consumerism, this expansion of stores by 2015 is a sure shot formula which will work. Apple is set to discover a bigger new market which will turn fruitful for both- Apple Inc as well as Reliance Retail.