Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Apple's global retail expansion: new stores and renovations on the horizon

Published 02/06/2023, 04:37 pm
Updated 02/06/2023, 04:37 pm
© Reuters

Investing.com - As part of a strategic plan to bolster its retail network, Apple Inc (NASDAQ:AAPL) is focusing on expanding its footprint in China and other Asian regions, while also refreshing existing stores across the United States and Europe.

Bloomberg reports that Apple is currently in talks to open 15 new locations throughout Asia-Pacific, five more within Europe and the Middle East, as well as four additional stores in North America by 2027. Alongside this expansion effort, the tech giant intends to revamp or relocate six stores in Asia, nine outlets across Europe, and another 13 within North America over the next four years – resulting in a total of 53 fresh or updated venues.

In order to capitalize on market opportunities within Asia-Pacific specifically, Apple plans to establish or refurbish 21 sites by 2027. This region contributed nearly $130 billion to Apple's revenue last year – about one-third of its overall earnings – with countries like India playing a key role as drivers for growth; indeed, April saw two successful store launches for the company there.

The report also indicates ongoing discussions around opening a third Indian location in the Borivali suburb of Mumbai by 2025 along with relocating an existing Perth-based outlet down under. In addition to these moves come proposals for four Chinese storefronts plus renovation work at Japan’s Ginza venue (Apple's first-ever Japanese store), which underwent temporary relocation last year due to demolition activities.

Looking ahead towards late-2026 rollouts include plans for yet another Indian locale situated inside New Delhi’s DLF Promenade mall—potentially making it one of India’s largest after Bandra Kurla Complex debuted earlier this year—as well as establishing further presences throughout Yokohama (Japan) via new construction and Shibuya Marui (Japan) via relocation. By 2027, Apple hopes to unveil a fifth Indian outlet within Mumbai's coastal Worli district.

The report also underscores ongoing discussions or active development around several notable new locations – such as three more Indian venues, the company’s inaugural Malaysian store, an upgraded Parisian storefront at the Opera shopping area, plus upcoming openings in London's Battersea Power Station (near Apple’s local headquarters), Miami, and Shanghai's Jing'an Temple Plaza flagship site.

Moreover, Europe remains a key player in Apple's growth strategy with imminent plans for launching a Battersea-based London store. In line with this focus on European expansion are intentions to set up shop inside Madrid's La Vaguada shopping center while relocating the Milton Keynes location within the United Kingdom. Last year alone saw over $95 billion generated from Europe—approximately one-fourth of total sales—with the UK standing out as its third-largest retail market by hosting some 40 stores already.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.