Apple is gearing up to open its second retail store in Mumbai, expanding its presence in one of the world’s fastest-growing tech markets. The new outlet will be in Sky City Mall, Borivali East—around 13 miles from the flagship Apple BKC store launched in 2023 with Tim Cook and Deirdre O’Brien in attendance.

The tech giant has signed a 10-year, 10-month lease for a 12,616 sq ft space, continuing its trend toward larger-format stores in India. While still modest compared to global flagships like New York’s Fifth Avenue store (77,000 sq ft), the Borivali location is nearly double the size of Apple’s earlier retail formats. The deal includes a 10-month rent-free period, followed by a ₹17 lakh monthly lease and a revenue-sharing model starting at 2% for the first 42 months, rising to 2.5% thereafter.

“From flagship locations in BKC and Saket to a ₹138 per sq ft lease in Borivali’s Sky City Mall, Apple’s retail playbook in India is expanding,” said Abhishek Kiran Gupta, co-founder and CEO of CRE Matrix. “This ₹17 lakh-a-month lease, backed by a deposit of over ₹1 crore, signals that Apple sees strong value not only in premium city centres but also in high-growth suburban markets.”

Sky City Mall, developed by Oberoi Realty, is positioning itself as a central retail hub in the northern suburbs of Mumbai. Welcoming Apple is seen as a landmark move. “The arrival of one of the world’s most iconic and pioneering brands is not only a noteworthy addition to our retail portfolio, but also a strong affirmation of the trust global leaders place in Oberoi Realty’s vision and execution,” said Vikas Oberoi, Chairman and Managing Director of Oberoi Realty.

Apple’s expansion in India doesn’t stop at retail. The company recently acquired office space in Bengaluru to support its growing team and is reportedly planning more stores in cities like Delhi, Pune, and Bengaluru. This is part of a larger strategy to grow Apple’s footprint in India, not only for retail, but also for backend operations and service infrastructure.

The Indian market has rapidly become a core focus for Apple, with the first two stores in Mumbai and Delhi reportedly contributing nearly 20% of the brand’s India revenue. While third-party resellers still play a key role, Apple is scaling its direct-to-consumer presence alongside local manufacturing efforts and service partnerships. A recent tie-up with the Tata Group is set to bolster Apple’s after-sales network, making service more accessible nationwide.

With this new store in Borivali, Apple signals its intent to blend premium experiences with deeper market penetration, ensuring it stays competitive in urban cores and emerging suburbs. The move underlines India’s growing importance as a consumer base and a strategic pillar in Apple’s global operations.