Apple India Expands Retail Presence with New Lease in Mumbai's Sky City Mall
Apple India has leased a significant 12,616 square feet of retail space in Sky City Mall, Borivali East, Mumbai, marking another step in the company’s expansion in India.
Apple IndiaSky City MallMumbaiRetail ExpansionLease AgreementReal Estate MumbaiJun 06, 2025
The starting monthly rent is set at Rs 138 per square foot, which translates to a minimum monthly rent of Rs 17.35 lakh. The revenue share percentage is 2% per quarter for the first 42 months, and it will increase to 2.5% per quarter thereafter.
Apple India currently operates two stores, one each in Mumbai and New Delhi. The company’s decision to lease this expansive space in Sky City Mall is a strategic move to enhance its retail presence in one of India’s major metropolitan cities. This new store will complement Apple’s existing outlets and further solidify its market position.
In April 2023, Apple opened its first two official stores in India, located in Saket (Delhi) and BKC (Mumbai). The company has also announced plans to open four more stores in the country, in Pune, Bengaluru, Delhi-NCR, and Mumbai. This ambitious expansion strategy underscores Apple’s commitment to India as a key market.
Apple began manufacturing iPhones in India in 2017, and the company’s investment plans in the country remain strong. Last month, government sources confirmed that Apple’s plans to establish a major manufacturing base for its products in India are intact.
The lease agreement with Incline Realty is a significant milestone in Apple’s retail expansion in Mumbai, and it is expected to attract a large number of customers and boost the local economy. Sky City Mall, known for its premium retail offerings, is an ideal location for Apple to showcase its products and services.
As Apple continues to expand its retail footprint in India, the company is poised to tap into the growing consumer base and further strengthen its brand presence in the region.
Frequently Asked Questions
Where is the new Apple store located in Mumbai?
The new Apple store is located in Sky City Mall, Borivali East, Mumbai.
What is the lease period for the new Apple store in Sky City Mall?
The lease period for the new Apple store in Sky City Mall is 10 years and 10 months, with a rent-free period of 10 months.
What is the starting monthly rent for the new Apple store in Mumbai?
The starting monthly rent for the new Apple store in Mumbai is Rs 138 per square foot, which translates to a minimum monthly rent of Rs 17.35 lakh.
How many Apple stores are currently operational in India?
Apple currently operates two stores in India, one each in Mumbai and New Delhi.
What are Apple's future expansion plans in India?
Apple plans to open four more stores in India, in Pune, Bengaluru, Delhi-NCR, and Mumbai.
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