Indian conglomerate Tata Group, which produces everything from salt to software, planned to open 100 stores nationwide selling only Apple Inc (AAPL.O) items.
Croma, a chain of consumer electronics stores owned by the Tata Group’s Infiniti Retail, would open outlets in the neighborhood, high-street, and mall sites as an Apple-authorized reseller. A combined venture to produce iPhones in India was being discussed between Tata and Taiwan’s Wistron, one of Apple’s major suppliers in India.
People informed on the matter say that Tata has already begun talks with upscale malls and high streets for space. The lease terms specify which brands and businesses cannot be opened close to the outlet. According to the source, these conditions are comparable to those that Apple demands.
The announcement comes just as Apple prepares to build its first physical location, the Apple Store in India. It was previously rumored that Apple might launch its first brick-and-mortar location in India sometime in 2022. A later report said that Apple had postponed the opening of its first physical location in India until 2023. The first Apple Store is currently anticipated to open in Mumbai between January and March. The business has leased space of about 22,000 square feet close to the Bandra-Kurla complex.
There are 160 Apple Premium Reseller stores in India as of right now.
The company has reserved about 12,000 square feet in New Delhi for the opening of its second Apple Store. Apple is also anticipated to open official stores in Chennai, Hyderabad, and Bengaluru, in addition to New Delhi and Mumbai.
The Apple Premium Resellers’ locations are larger than the Apple Authorized Resellers’, often measuring over 1,000 square feet. Smaller shops will mostly sell watches, iPads, and iPhones, while high-end Apple stores will stock the full range of Apple products, including MacBooks.
India has seen a steady increase in the number of Apple users, and the nation is now one of the company’s fastest-growing markets. Since the outbreak, the tech giant has experienced its best-ever performance in India as customers opted to buy the newest iPhones, iPads, and PCs.
In the September quarter, Apple’s global iPhone revenue increased 10% YoY to a record $42.6 billion.
Tata Group Expansion
With this action, the Tata Group continues to expand its portfolio of business ventures and relationships. Following the announcement of Air India’s merger with Vistara, the group recently gained media attention. Tata Group and Singapore Airlines have partnered to form Vistara, and Singapore Airlines will contribute $250 million for a 25.1% interest in the combined company following the merger.
Additionally, the organization apparently intends to start producing semiconductor chips in India in order to elevate the status of the nation. With the Indian semiconductor market expected to more than quadruple to $64 billion between 2021 and 2026, according to the India Electronics and Semiconductor Association and others, Tata’s entry into the chipmaking industry will be a first for the country. Currently, the only semiconductor sector in the nation is software-based design, despite the fact that demand is increasing quickly.
News also broke that Tata acquired Air India and is close to placing landmark orders for 500 jets worth tens of billions. Speaking on the condition of anonymity as the final touches are being put on the massive deal in the coming days, they stated that the orders include as many as 400 narrow-body jets and 100 or more wide-bodies, including dozens of Airbus A350s and Boeing 787s and 777s.
