India, Sept. 2 -- Apple's much-anticipated retail outlet at Phoenix Mall of Asia in North Bengaluru's Hebbal opened on September 2, marking the company's third official store in India after Apple BKC in Mumbai's Bandra Kurla Complex and Apple Saket in Delhi, both launched in 2023.

The Bengaluru store spans 7,997.8 sq ft under a 10-year lease signed in November 2024. According to documents accessed by Propstack, rent payments began in August 2025 at an annual Rs.2.09 crore, with Apple placing a Rs.1.046 crore security deposit. Both rent and deposit will increase by 15% every three years.

Alongside the fixed lease, Apple has also agreed to a revenue-sharing model, almost 2% of revenue for the first 36 months and 2.5% thereafter. However, ...