Apple is growing its retail chain in India by opening a new store in Bengaluru and developing better regional manufacturing ties at the same time.

Apple will add a new retail store in India, helping it become more visible in the expanding local retail market. Earning favorable results in Delhi and Mumbai, the company has now locked in a lease for a new store in the Phoenix Mall of Asia, located in Hebbal, North Bengaluru. The store’s area will measure around 8,000 square feet which is the approximate size of the Delhi outlet but one square foot smaller than the main Mumbai store.

A lease agreement signed for the venture in November 2024 lasts ten years and involves a fixed rent of ₹2.09 crore and a portion of the shares. Apple will share 2% of revenues from the store in the first three years and this will go up to 2.5% after three years, but cannot exceed what they would earn from twice the guaranteed rent. An exclusivity clause in the lease prevents competitors from occupying stores close to the rental unit.

Phoenix Mall of Asia, from Phoenix Mills, covers 1.2 million square feet and is becoming a major shopping area in Bengaluru. Tim Cook sees India as a significant market for growth which is why the company is now hiring for its new store there.

As well as expanding in retail, Foxconn is planning to build an iPhone plant near Bengaluru, showing Apple’s strong support for the location.

The company has announced it will set up four additional retail stores in India, selecting important cities like Pune, Delhi NCR, Mumbai and an area in Bengaluru to represent a major move into the Indian retail market.