Apple plans major retail push with new stores across China, US

The company’s retail operations are overseen by Deirdre O’Brien, one of Apple’s longest-serving executives, who took over the duties when Burberry Group Plc veteran Angela Ahrendts left the role in 2019. Construction and upkeep of the stores themselves is managed by Kristina Raspe, Apple’s executive in charge of global real estate and facilities. That group reports to the company’s chief financial officer rather than O’Brien.

 

Apple operates four types of retail outlets, according to internal specifications: a standard store within indoor malls, “Apple Store+” locations that can be in outdoor malls or on city streets, “flagships” in key areas with unique designs, and “flagship+” stores, which are the largest and most expensive to operate. Regular stores typically generate more than $40 million annually, while Apple Store+ locations bring in over $45 million, according to internal data. The flagships generate more than $75 million, while the flagship+ sites make over $100 million annually.

 

Even with US-China relations China souring, Apple remains highly dependent on the Asian nation — both as a manufacturing partner and a market for its goods. Chief Executive Officer Tim Cook celebrated that relationship during a trip to China earlier this year, calling it “symbiotic,” and the retail growth underscores Apple’s commitment to the country.