Apple's New Brazilian Retail Store Opens Its Doors

by

Apple's first retail store in Brazil opened in Rio de Janeiro this weekend, with approximately 1,700 customers waiting in line for the grand opening (via The Globe]. Customers started queueing up on Thursday night for the Saturday morning debut, with groups waiting both inside and outside the Village Mall.

apple_store_rio

Photo from The Globe

The opening of the Rio de Janeiro store was announced last week on the company's website and is Apple's first store in Latin America. The store has a fairly unique single floor, pavilion-style design with a curved glass exterior. Unlike most other Apple retail stores, the Rio de Janeiro location features a split-concept layout where one half of the store is dedicated to product demonstrations while the other half is focused on accessory sales and services.


Speaking to Brazilian news site The Globe, Apple CFO Peter Oppenheimer confirmed that Brazil was an increasingly important market for Apple. The Rio de Janeiro store is part of a larger plan to tap into the Latin American market, which traditionally has been a weak market for Apple due to the high import taxes levied on electronic devices.

Apple will be selling its full product lineup in the Rio store, including the iPhone 5S starting at the equivalent of $1,174, with high taxes making it the most expensive Apple retail store for iPhone purchases (via Bloomberg).

Related Roundup: Apple Stores

Top Rated Comments

Taz Mangus Avatar
91 months ago
Waiting to see the article from the NYT putting a negative spin on this. Maybe this time they will claim only 1 person showed up.
Score: 2 Votes (Like | Disagree)
LiveinRiot Avatar
91 months ago
I was actually there and the prices are ridiculous, part of it is taxes and another part is the fault of Apple itself. It is sad to have to pay so expensive apple products.
Score: 1 Votes (Like | Disagree)
WallToWallMacs Avatar
91 months ago

1700 people wait in line for an Apple retail store to open.


* Apple is not giving any special product discounts today at that store.
* Apple is not giving away concert tickets like Microsoft did for their store openings.
* Apple is not paying those people to be there


What other company generates this kind of excitement for the opening of a retail store in the age of online shopping?

I can't think of one. Yet, Apple's stock price does not reflect nearly that level of goodwill value from the brand. Consumers love Apple, but with the current P/E ratio it is apparent that Wall Street does not feel the same way. Something has to give with the price of AAPL -- it has to eventually correct to north of $850 per share.

The stock is priced like Apple's is Justin Bieber and its customers are like Bieber's fans. It is as if Wall Street thinks 100% of these customers with over 90% customer satisfaction ratings are just going to outgrow Apple and find a new favorite teen idol despite the incredible customer satisfaction ratings with Apple products and the willingness of people to spend top dollar to own the best.

If Apple had Google's P/E ratio then AAPL would be priced at over $1300 per share. And that is not even looking at the "Ex-Cash" P/E ratio which would send it north of $1600 per share.


Markets aren't rational which is why the 'pure free market' simply doesn't work - why there are controls such as halting the the trade when there is a rapid drop of a stock etc. End of the day Apple is a maturing company and the people wanting a quick buck off the back of unsustainable high growth rates are going to move on just as what happened with Microsoft (Steve Balmer doubled the revenue of Microsoft yet apparently he has been a failure - ok).

Regarding the price of Apple products - Brazil is apparently addressing the issue of tariffs but you'll find in many cases the tariffs are the only effective way for a developing country to raise government revenue given that the institutions required for regular and consistent taxation just aren't there yet (I'd hazard to guess that less than 30% of the population pays income tax) hence their reliance on being able to collect tax at the boarders on imported goods or taxing businesses instead. Long term Brazil will eventually have to get its act sorted out and address the structural institutional problems or otherwise it'll end up losing the faith of investors who need a stable and secure basis on which they'll invest their money.
Score: 1 Votes (Like | Disagree)
guzhogi Avatar
91 months ago
Congrats to Brazil. The prices seem high compared to the US, though. Glad to see there was a big turn out to the opening.

I was at Oak Brook mall in Illinois this weekend and the Apple Store there moved to a much bigger place. I'd say easily 3x the size of the original store, and it was still crowded.

Anyone else wonder if Microsoft will soon open its own store near the store in Rio? The one in Oak Brook is pretty cool, but empty. Plus, the people working at the M$ version of the Genius Bar were kinda of jerks, but that's a different story entirely.
Score: 1 Votes (Like | Disagree)
csaguiar Avatar
91 months ago

Important question when considering the cost of an iPhone: how much do their plans cost? Is it still the most expensive place to own an iPhone when you factor that in?


An iPhone 5S 16GB costs $812 considering a 400min 4G/LTE plan (with 6GB of usage per month). This plan costs $137 a month.

The price of $1174 given in the article is without a contract.

And.. Yes.. It's a rip off!
Score: 1 Votes (Like | Disagree)
WaxedJacket Avatar
91 months ago
I think by law if more than 10 Brazilians are congregating, it's required a Brazilian flag must be present.
Score: 1 Votes (Like | Disagree)

Top Stories

bloodoxygenapplewatch

Apple Watch Series 7 Rumored to Feature Blood Glucose Monitoring

Monday January 25, 2021 5:05 am PST by
The Apple Watch Series 7 will reportedly feature blood glucose monitoring via an optical sensor, according to ETNews. The report, which mainly focuses on the blood glucose capabilities of the Samsung Galaxy Watch 4, explains that Apple is intending to bring blood glucose monitoring to the upcoming Apple Watch Series 7 using a non-invasive optical sensor. Measuring blood glucose levels,...
magsafecasedangle

Apple Elaborates on Potential for iPhone 12 and MagSafe Accessories to Interfere With Implantable Medical Devices

Saturday January 23, 2021 2:42 pm PST by
Since the launch of iPhone 12 models in October, Apple has acknowledged that the devices may cause electromagnetic interference with medical devices like pacemakers and defibrillators, but the company has now shared additional information. Apple added the following paragraph to a related support document today:Medical devices such as implanted pacemakers and defibrillators might contain...
14

Apple Releases iOS 14.4 and iPadOS 14.4 With New Camera Warnings and Bug Fixes

Tuesday January 26, 2021 10:04 am PST by
Apple today released iOS and iPadOS 14.4, the fourth major updates to the iOS 14 operating system that was initially released in September. iOS and iPadOS 14.4 come more than a month after the release of iOS and iPadOS 14.3, updates that brought new emojis, Intercom support, and more. The iOS and iPadOS 14.4 updates can be downloaded for free and the software is available on all eligible...
Top Stories 44 Feature

Top Stories: 'Thinner and Lighter' MacBook Air, Smaller iPhone 13 Notch, iOS 14.4 Incoming

Saturday January 23, 2021 6:00 am PST by
We continued to hear a lot more about Apple's plans for its Mac lineup this week, including word of a high-end redesigned MacBook Air and the return of an SD card slot as part of the upcoming MacBook Pro redesign. It also sounds like Apple has been working on Face ID for Mac, but it won't be appearing in a redesigned iMac this year as originally planned. This week also saw rumors about the...
14

Apple Releasing iOS 14.4 and watchOS 7.3 Later Today

Tuesday January 26, 2021 7:20 am PST by
In its Black History Month announcement this morning, Apple has confirmed that iOS 14.4 and watchOS 7.3 will be released later today. watchOS 7.3 expands the ECG app on the Apple Watch Series 4 and newer to Japan, Mayotte, Thailand, and the Philippines, while iOS 14.4 introduces a notification on iPhone 12 models with non-genuine cameras. Both software updates also add support for a new...
maxresdefault

Microsoft Touts Surface Pro 7 as 'The Better Choice' Over MacBook Pro in New Ad

Saturday January 23, 2021 11:02 am PST by
Microsoft yesterday shared a new ad on YouTube titled "Microsoft Surface Pro 7: The Better Choice," in which the company compares its tablet computer to Apple's 13-inch M1 MacBook Pro, as spotted by MSPoweruser. The ad highlights the Surface Pro 7's touchscreen and included stylus as opposed to only a "little bar" (the Touch Bar) on the MacBook Pro. Other advantages of the Surface Pro 7...
apple watch black unity

Apple Celebrates Black History Month With Limited-Edition Watch, Featured Apps and Books, and More

Tuesday January 26, 2021 6:14 am PST by
Apple today announced that it will be celebrating Black History Month with curated content that highlights and amplifies Black creators, artists, developers, and businesses across the App Store, Apple Music, the Apple TV app, Apple Books, Apple Podcasts, and more. The content will be featured throughout the month of February. Black Unity Sport Band has "Truth. Power. Solidarity." ...
7

Apple Releases watchOS 7.3 With Unity Watch Face, Expanded ECG Availability and More

Tuesday January 26, 2021 10:03 am PST by
Apple today released watchOS 7.3, the third major update to the watchOS 7 operating system that was released in September. watchOS 7.3 comes more than a month after watchOS 7.2, an update that brought support for Apple Fitness+ ‌‌The watchOS 7.3 update‌‌ can be downloaded for free through the dedicated Apple Watch app on the iPhone by going to General > Software Update. To install...
time to walk apple watch

Apple Fitness+ Feature 'Time to Walk' Launching Soon With Audio Stories From Special Guests

Saturday January 23, 2021 7:13 pm PST by
Earlier this week, Apple seeded the watchOS 7.3 Release Candidate, which is typically the final beta version of a software update. The release notes for the update list a new "Time to Walk" feature for Apple Fitness+ subscribers, described as "an audio experience in the Workout app where guests share inspiring stories as you walk." Apple Fitness+ subscribers will be able to open the Workout...
apple dan riccio

Dan Riccio Transitioning to New Project, John Ternus to Lead Apple's Hardware Engineering Team

Monday January 25, 2021 2:05 pm PST by
Apple today announced that current Apple hardware engineering SVP Dan Riccio is transitioning to a new role where he will focus on an unspecified project, with John Ternus set to take over as Apple's senior vice president of hardware engineering. In a statement, Apple CEO Tim Cook said that Riccio made Apple a better and more innovative company, and that Ternus will bring a deep expertise...