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Apple has stipulated that 22 major tech brands should not have any kind of presence near its soon-to-open store at Reliance Jio World Drive mall in Mumbai, a report by the Economic Times (ET) said.
The list includes names like Google, Amazon, Facebook, LG, Microsoft, Sony, Twitter, Dell, Bose, Foxconn, HP, Panasonic, Toshiba and HTC. The tech giant has recently signed a lease for 133 months for 20,800 sq ft of space in the mall. It will pay Rs 42 lakh per month for the space.
The company will pay a 15 per cent rent escalation every three years. The store is expected to open later this month.
Apple has placed a similar clause in its lease for 116,000 sq ft space in Bengaluru. The area is located in Prestige Minsk Square built by Prestige Estates Projects. It will pay Rs 2.44 crore monthly for the space for 10 years.
In that contract, according to a report by BusinessLine (BL), Apple has said that no other competitors including Alphabet, Microsoft, Samsung, Xiaomi, Amazon, Huawei, Netflix, Facebook, Spotify, Baidu and Tencent, be provided space in the building.
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According to reports, Apple is also looking to open a store in Delhi's Select Citywalk Mall.
India has become a big market for the Cupertino, California-based company, which launched an online retail store in the world's second-largest smartphone market in 2020.
Apple has previously faced hurdles in opening physical retail stores in the country, with 2021 launch plans delayed because of the Covid-19 pandemic.
Apple products, however, have been sold in India for years on e-commerce platforms such as Amazon and Walmart Inc's Flipkart, as well as through resellers.
