Tata Group to open 100 exclusive Apple stores

The Apple Inc logo is shown outside the company's 2016 Worldwide Developers Conference in San Francisco, California, U.S. June 13, 2016. Pic: Reuters

Indian salt-to-software conglomerate Tata Group plans to open 100 stores across the country that will only sell Apple Inc products, the Economic Times newspaper reported on Monday, citing two people aware of the matter.

Tata Group's Infiniti Retail, which runs the consumer electronics store chain Croma, will be an Apple-authorised reseller and set up stores at shopping malls, high-street and neighbourhood locations, the report said.

Tata has begun talks with premium malls and high streets and the lease terms include details of brands and stores that cannot be opened near these outlets, a retail consultant aware of the matter told the publication.

TRENDING NOW

Apple and Tata Group did not immediately respond to Reuters' calls and emails seeking comment.

The latest development comes less than two weeks after the Economic Times reported that the Tata Group was in talks to buy Wistron Corp's only manufacturing facility in India for up to 50 billion rupees ($605 million).

Tata and Taiwan's Wistron – one of Apple's top vendors in India – were in discussion to set up a joint venture to assemble iPhones in India, Bloomberg reported in September. ($1 = 82.6250 Indian rupees)

Click Here For Latest Updates On Stock Market | Zee Business Live

Also read- Uniparts India IPO Listing Today: Shares to make stock market debut at 10 AM | Uniparts share price NSE, BSE

TAGS: