Indian Apple Reseller Ample Announces Ambitious Growth Plan, Aims For 35% Revenue Surge By 2026
In this article (4)
Ample, an Indian reseller of Apple products, has outlined ambitious growth plans aimed at achieving a 35 percent surge in revenue by the fiscal year 2026, according to the company’s Chief Executive Officer (CEO).
Expanding Footprint and Brand Portfolio
Based in Bengaluru, Ample supplies a variety of tech products, including Apple computers, to a large and diverse client base of over 1500 entities. Key clients include high-profile names such as SAP, Broadcom, Infosys, and Wipro. Currently, the firm operates more than 120 stores across India, with nearly 50 of these outlets dedicated to Apple products. Other brands, such as Under Armour and Asics, are also showcased in the company’s stores.
CEO Rajesh Narang revealed plans to increase the company’s footprint to around 175 stores across various brands within the next three years. However, no specific target for the expansion of Apple-only stores was provided.
Financial Performance and Growth Strategy
As of the fiscal year that ended on March 31, Ample reported a revenue of 17 billion rupees (equivalent to US$197.33 million). Going forward, the company plans to focus on forging partnerships with global capability centers. These centers are operational hubs that manage various aspects such as operations, finance, and research for large multinational companies.
Notably, Apple, which itself reported nearly $8 billion in sales in India for the year ending March 2024, operates its own stores in New Delhi and Mumbai. Despite this, Narang believes that Apple’s plans to further expand its presence in India will be beneficial for partners like Ample, as the market tends to expand in line with the brand’s presence.
Future Plans and Investment Needs
To fund its ambitious growth strategy, Ample plans to list on stock exchanges within the next five years. “Considering our growth ambition, there will be a requirement for capital,” Narang stated.
Questions & Answers
What is Ample’s future growth strategy?
Ample plans to expand its store footprint to around 175 outlets across various brands within the next three years. The company also intends to forge partnerships with global capability centers to drive growth.
How will Ample fund its growth plan?
Ample plans to list on stock exchanges within the next five years to raise the necessary capital to fund its growth strategy.
What is the anticipated impact of Apple’s expansion in India on Ample’s business?
Ample’s CEO, Rajesh Narang, believes that Apple’s expansion in India will be beneficial for partners like Ample, as the market often grows in tandem with the brand’s presence.