Apple BKC Store: Google, Amazon, and 20 other brands can't, open outlets, post ads near Apple store in Mumbai; here's why

Apple is gearing up to open its first retail store in India in Bandra Kurla Complex (BKC), Mumbai. This store is located in Jio World Drive mall in BKC area. Ahead of the official opening, the store’s lease details have been leaked online. As reported by Economic Times, 22 'competing brands' cannot open shops or display advertisements near the Apple BKC store.

Apple BKC lease agreement leaked online 

The agreement has been accessed by data analytic firm CRE Matrix and was cited by the Economic Times. As per the agreement, the 'competing brands' include Amazon, Facebook, Google, LG, Microsoft, Sony, Twitter, Bose, Dell, Devialet, Foxconn, Garmin, Hitachi, HP, HTC, IBM, Intel, Lenovo, Nest, Panasonic and Toshiba. The last brand is likely to be Samsung.

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Apple has signed a lease for over 11 years with a 15 per cent rent escalation provision every three years with Jio World Mall. In addition to this, it is revealed that Apple will pay a minimum guarantee of Rs 42 lakh per month along with 2 per cent of the revenue share for three years. Post this, the tech giant will pay 2.5 per cent of the revenue share to the Mumbai mall.

Also Read: Apple Saket store to open in New Delhi on April 20

Apple had opened its online store in India back in 2020. Now, Apple has confirmed to open two physical stores in India: Apple BKC and Apple Saket which will open on April 18 and April 20 respectively. It is also expected that Apple CEO Tim Cook might visit India at the company’s first store opening in the country.

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