Apple India leases store in Mumbai for ₹2 cr annual rent: Report
Apple India will open a second store in Mumbai's Borivali, as it has leased a 12,616 square feet retail space for ₹2.08 crore, reports stated. The lease is for 130 months with a rent escalation of 15% every three years. The agreement includes revenue-sharing clause, where Apple will pay 2% of its revenue from the store for first 42 months.