Apple Inc. Plans To Open Three New Stores in Germany this YearVW Staff
Apple Inc. (NASDAQ:AAPL) looks to further expand its dominance in Germany this year with its plans to open three new stores in Berlin, Stuttgart and Cologne. The company has already begun listing job opportunities for the three new stores on its website.
As of right now, the company already has eight existing stores in Germany with its big outlet stores located in Munich, Hamburg, Frankfurt, and Oberhausen.
By historical standards, it takes Apple six months to open a store once it begins to hire staff members. However, the company has said that it has specific plans for each of its new stores.
Total, Apple is expected to open about forty new stores in 2012 with over 75% of them being outside of the US. This vast global expansion will cost $900 million of its $8 billion set aside for 2012 expansion projects. The company opened over thirty stores last year. So far, if Apple opens its projected amount of stores this year, it will have 400 stores with the expectation of expansion into China. China is looked at as the “key” to Apple’s future according to Apple CEO Tim Cook. Tim Cook was recently seen in China, making him the first Apple CEO to make an appearance in China.
Apple has a cult following around the world and it is impressive how they are able to set aside a huge amount of their cash hoard to further expand around the world. This is the strategy that got Apple where they are today. The basics are making a product that is appealing to the eye and addictive to use. Next it is all about rising sales which lead to cash hoards such as Apple’s. In turn, that money is used to expand into other countries and further develop products which only garners them more money, at least in theory.
Apple after Steve Jobs appears to be holding up relatively well and making some progress. Tim Cook is certainly the man for the job and so far has excelled at it. I especially like how he has connected with China which will make it easier for Apple to get their products over there if the CEO is playing an active role and taking the initiative. All in all, Apple is positioning themselves for further domination and greatness throughout the world. All they need to do now is continue to impress with their products and they will be unstoppable.