It’s also planning a new store at the Grand Front Plaza mall in Osaka and a remodel of its Shinsaibashi location in the region.Įven with US-China relations China souring, Apple remains highly dependent on the Asian nation - both as a manufacturing partner and a market for its goods. Apple opened its Gangnam store in Seoul in March and its Myeongdong location a year ago.įor next year, the company is planning its first store in Malaysia, located in Kuala Lumpur the new Jing An Temple Plaza location a remodel of its Pudong site in Shanghai and potentially its first outpost in Foshan, China. That expansion in South Korea, the home turf of chief rival Samsung Electronics Co., will bring the total number of outposts in the country to seven. Later this year, the company is opening a new mall store in Wen Zhou Shi, China, upgrading its Nanjing East flagship in Shanghai and adding a pair of new outlets in South Korea. The market generated about $130 billion of Apple’s revenue last year - roughly a third of its total - and countries like India have emerged as a critical growth engine. Apple opened its first two stores in India in April. The main focus of the expansion is the Asia-Pacific region, with 21 new or revamped sites planned through 2027. Regular stores typically generate more than $40 million annually, while Apple Store+ locations bring in over $45 million, according to internal data. The flagships generate more than $75 million, while the flagship+ sites make over $100 million annually. That group reports to the company’s chief financial officer rather than O’Brien.Īpple operates four types of retail outlets, according to internal specifications: a standard store within indoor malls, “Apple Store+” locations that can be in outdoor malls or on city streets, “flagships” in key areas with unique designs, and “flagship+” stores, which are the largest and most expensive to operate. Construction and upkeep of the stores themselves is managed by Kristina Raspe, Apple’s executive in charge of global real estate and facilities. The company’s retail operations are overseen by Deirdre O’Brien, one of Apple’s longest-serving executives, who took over the duties when Burberry Group Plc veteran Angela Ahrendts left the role in 2019. The company gets most of its revenue from other channels, including its e-commerce site. Still, the brick-and-mortar locations serve as a key place for customers to buy products on release days, get technical support and take classes. The chain is famously lucrative on a square-footage basis, but the stores are often more about building Apple’s brand than selling goods. A spokesman for the Cupertino, California-based company declined to comment.Īpple currently has more than 520 stores in 26 countries, with roughly half of them located in the US. Still, many of the stores are already in development, with Apple having agreed to leases with landowners. Some of the future locations and their timing remain either internal projections or proposals, meaning they could either be delayed or canceled altogether. And there’s a flagship store slated for the Jing’an Temple Plaza in Shanghai. The most notable new stores under discussion or in development include three sites in India, the company’s first outpost in Malaysia and an upgrade to Apple’s historic location in the Opera shopping area of Paris, according to the people. It’s also soon opening a store at the Battersea Power Station in London by its new local headquarters and is planning an additional location in Miami. The idea is to build Apple’s brand in growth markets, such as India, while also giving consumers in the US and Europe a better experience. In total, the company is proposing 53 new, relocated or remodeled stores over the next four years.Īpple looks to bring fresh luster to its 22-year-old retail operation, which is one of the world’s most venerated chains but also has contended with pandemic woes, customer service problems and labor unrest in recent years. The company is also aiming for six revamped or relocated stores in Asia, nine in Europe and 13 in North America, said the people, who asked not to be identified because the matter is private. Through 2027, the iPhone maker is discussing opening 15 new stores across the Asia-Pacific region, five locations in Europe and the Middle East, and four additional outlets in the US and Canada, according to people with knowledge of the deliberations.
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