According to Bloomberg, Apple has ambitious plans to expand and revitalize its retail chain. In total, Apple's proposal includes the establishment of 53 new, relocated, or remodeled stores in key or growing markets.
, Apple has ambitious plans to expand and revitalize its retail chain. With a strong focus on global expansion, the company aims to open 15 new stores in the Asia-Pacific region, 5 locations in Europe and the Middle East, and an additional 4 outlets in the US and Canada by 2027. In total, Apple's proposal includes the establishment of 53 new, relocated, or remodeled stores in key or growing markets.
In the US, Apple's focus lies in revitalizing its current operations rather than venturing into new cities. The company plans to revamp stores in various locations, including the Tice's Corner store in Woodcliff Lake, New Jersey. Over the next year or two, Apple plans to open a new store in Miami, one major store in Detroit, Michigan, as well as a new store at the Birkdale Village Mall in North Carolina and a mall store in Torrance in Southern California.
Apple's expansion strategy also focuses on the Asia-Pacific region, where it plans to open 15 new sites over the next four years. The company aims to tap into growth markets like India, where it recently launched its first two stores, and Malaysia, where it will open its first store. Apple also intends to strengthen its presence in Asia key markets by opening 7 new locations in China, 2 in South Korea, and 2 in Japan.
Apple's retail expansion aims to not only capture market share in growth regions but also to enhance the customer experience and align with the company's evolving aesthetic. As of this moment, Apple operates 520 stores in 26 countries, with nearly half of them based in the US. The company offers four types of retail outlets, including standard indoor mall shops,"Apple Store+,""flagships," and"flagships+" stores. Each of these stores generates different annual revenues, ranging from $40 million for the basic ones to over $100 million for the"flagship+" sites, which offer unique designs and high customization options for users.
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