Apple is opening its next store in Bengaluru; wait till you see the rent

Apple expansion strategy in India has made global headlines. Now, the company is set to open its third physical store in the country, which marks the first in South India. Apple has chosen Bengaluru for its next store, underscoring its commitment to strengthening its presence in one of the world’s fastest-growing markets, even as geopolitical tensions continue to shape global trade dynamics.

According to reports, the new store will be located at the Phoenix Mall of Asia in Hebbal, Bengaluru, occupying a prime 8,000-square-foot space on the mall’s first floor. The store’s design will reflect Apple’s signature minimalist aesthetic, featuring expert staff in black tees and an abundance of glass, creating an inviting and modern retail environment.

According to a report by Business Standard, Apple has secured a 10-year lease for the Bengaluru store. The financial terms of the lease include Apple paying 2% of its store revenue for the first three years, with the percentage increasing to 2.5% in subsequent years. This is besides the annual rent of Rs 2.09 crore, which works out at a monthly rent of Rs 17.4 lakh, according to lease-related documents from real estate data analytics firm Propstack.

The lease period is set to commence on November 8, 2024, with the rent commencement date slated for August 8, 2025. This timeline suggests that the store could open its doors to customers in just a few months, marking a significant milestone in Apple’s India journey.

This expansion is part of a broader strategy by Apple to deepen its roots in India. Apple CEO Tim Cook has confirmed the company’s intent to open four more retail outlets in the country, with Pune and Delhi-NCR joining Mumbai and Bengaluru on the map. Following the opening of the first two stores, which was in 2023, this third opening signals a more permanent and strategic commitment to the Indian market.

Made in India iPhones

India holds a central place in Apple’sglobal plans, not just as a lucrative market for sales but also as a key manufacturing hub. During Apple’s Q2 2025 earnings call, Cook revealed that by June, most iPhones sold in the United States would carry a “Made in India” tag. This shift in production is part of Apple’s strategy to diversify its manufacturing base amid ongoing US-China trade tensions.

In contrast, President Donald Trump has issued a warning, threatening a 25% tariff on iPhones not made in the United States. This move is part of a broader effort to encourage domestic production and reduce reliance on Chinese manufacturing. As a result, Apple is not only expanding its retail footprint in India but also shifting a significant portion of its production to the country. Meanwhile, Vietnam is set to become the primary manufacturing hub for iPads, Macs, Apple Watches, and AirPods sold in the United States.