Indian Apple reseller Ample to grow revenue by a third as it expands presence, portfolio, CEO says
The Bengaluru-based firm, which supplies tech products such as Apple computers to over 1,500 clients including SAP (SAPG.DE), opens new tab, Broadcom (AVGO.O), opens new tab, Infosys (INFY.NS), opens new tab, and Wipro (WIPR.NS), opens new tab, operates more than 120 stores across India.
Nearly 50 of these sell Apple (AAPL.O), opens new tab products, while others showcase brands like Under Armour (UAA.N), opens new tab and ASICS (7936.T), opens new tab.
The firm plans to expand its footprint to approximately 175 stores across brands within three years, Ample founder and CEO Rajesh Narang said on Monday, though he declined to specify a target for Apple-only stores.
Ample's revenue stood at 17 billion rupees ($197.33 million) for the fiscal year ended March 31. The company is focusing on partnerships with global capability centers, hubs that manage operations, finance, and research for large multinational firms, to drive growth, Narang added.
Apple, which reported nearly $8 billion in sales in India for the year through March 2024, operates its own stores in New Delhi and Mumbai. Other resellers in the market include Aptronix and iPlanet.
While Apple also plans to expand its presence in India, Narang said that would benefit partners like Ample, as the market tends to grow with the brand's presence.
The firm plans to list on stock exchanges within five years to fund its growth strategy. "With our growth ambition, there will be a need for capital," Narang said.
($1 = 86.1500 Indian rupees)
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