Apple Stores to be renamed ‘Apple’
According to a MacRumors report, Apple has informed all its retail staff with confirmation that ‘store’ will disappear from both online and in retail stores.business Updated: Aug 23, 2016 12:01 IST
Cupertino-headquartered technology giant Apple is reportedly expected to change the name of its retail stores from ‘Apple Store’ to just ‘Apple’.
According to a MacRumors report, Apple has informed all its retail staff with confirmation that ‘store’ will disappear from both online and in retail stores. Apple’s online store listing refers to stores by names like “Apple Union Square” or “Apple Valley Fair” or “Apple The Grove,” instead of “Apple Store, Valley Fair” or “Apple Store, The Grove.”
Apple, which launched its 10th location in New York City and named it ‘Apple World Trade Center’, dropping the word ‘Store’ from its name.
The change in name has already been reflected on every website for Apple’s various store. The re-branding is already reflected on every website for Apple’s various stores. “Apple stores, with fancy headphone setups and avenue displays will now change on a seasonal basis to showcase different products,” the report stated.
The report also said that the change in name will be phased. The changes would begin with the recently opened Apple Stores and then move on to the older and more popular ones.
Earlier, the Foreign Investment and Promotion Board (FIPB) of India — the nodal agency for clearing investment proposals by overseas companies — had cleared Apple Inc’s plans to set up retail outlets in the country, but had said the iPhone maker must comply with 30% local sourcing rules.
The decision was announced just a week after Apple CEO Tim Cook made his first visit to the country to capitalise on its growth prospects, and in the face of slowing sales in China, the company’s biggest overseas market. When contacted, an Apple spokesperson refused to comment on the development.
The California-based company had applied for a waiver of the mandatory sourcing norms, and there was widespread speculation that the government would accept its proposal.
Apple currently has Apple-owned stores across the world, including the US, the UK and China. The sourcing norm has been a hurdle for Apple in India, since the market does not have enough vendors to help it meet the norm. It sells in India through distributors, such as, Redington, Ingram Micro and Bettel.
According to Indian rules, a DIPP secretary-led panel first approves a company’s application, and then sends it to the FIPB for a formal clearance. Reports earlier said that the DIPP had approved Apple’s proposal to open retail stores in the country without the 30% sourcing rider.