Apple Expands in India: Secures New Store in Mumbai’s Borivali for iPhone 17 Launch
Apple India has secured a 12,616-square-foot space in Borivali (East), Mumbai, for its second retail store in the city. The lease agreement spans nearly 11 years with an initial monthly rent of ₹17.35 lakh, set to rise by 15% every three years.
AppleIphone 17MumbaiRetail StoreIndiaReal Estate MumbaiJun 06, 2025
This will mark Apple’s second retail outlet in Mumbai, following the flagship store at Bandra Kurla Complex, which launched in April 2023. In addition to its presence in Delhi’s Select City Walk, Apple is expanding its retail footprint in India to meet the growing demand for its products.
In November 2024, the iPhone maker signed a lease to establish its first retail store in Bengaluru. The 10-year agreement covers a 7,997.8 sq. ft space at the Phoenix Mall of Asia, with a monthly rent of Rs 17.44 lakh, or Rs 218.15 per sq. ft. Apple also paid a security deposit of around Rs 1.05 crore for the premises.
Apple is growing its retail presence in India after a strong performance in the first quarter of fiscal year 2025. During this time, the iPhone became the best-selling smartphone in the country, underscoring the brand’s rising impact in a market where it still holds a relatively small share.
India has become Apple’s fourth-largest market worldwide, following the U.S., China, and Japan. In 2024, Apple achieved a record-breaking milestone by shipping 12 million iPhones in the country—a 35% increase from the previous year. In the last quarter of 2024, Apple entered India’s top five smartphone brands for the first time, claiming a 10% market share. This growth was fueled largely by robust demand for the iPhone 15 and iPhone 13 models.
Since the beginning of 2023, Apple has steadily broken its own sales records in India. Analysts expect this momentum to continue, with iPhone shipments in the country projected to reach between 13 and 14 million units in 2025. This sustained double-digit growth is likely to strengthen Apple’s lead in the premium smartphone segment and further cement its standing among the top five brands by total sales volume.
Frequently Asked Questions
Where is the new Apple store in Mumbai located?
The new Apple store in Mumbai is located in Borivali (East) at the Sky City Mall, covering 12,616 square feet on the ground floor.
What is the duration of the lease agreement for the new Apple store in Borivali?
The lease agreement for the new Apple store in Borivali spans nearly 11 years.
How much is the initial monthly rent for the new Apple store in Borivali?
The initial monthly rent for the new Apple store in Borivali is ₹17.35 lakh.
How many retail stores does Apple currently have in India?
Apple currently has retail stores in Mumbai (Bandra Kurla Complex and Borivali), Delhi (Select City Walk), and Bengaluru (Phoenix Mall of Asia).
What is Apple's market position in India as of 2024?
As of 2024, Apple has entered India’s top five smartphone brands for the first time, claiming a 10% market share.
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