toggle

AAPL Stock: 111.28 ( + 1.87 )

Printed from http://www.macnn.com

Apple loses bid for Milan store, pursues Swedish locations

updated 01:30 pm EDT, Thu November 3, 2011

Prada outbids for Galleria del Duomo site

Apple has lost a bid for an additional store location in Milan, Italy, says Macitynet.it. The company is noted to have been after a former McDonald's in the Galleria del Duomo, situated in the heart of the city. It has been outbid however by fashion vendor Prada, despite the latter already having a two-story outlet on the other side of the Galleria.

The municipal government was reportedly asking for a bid of 2.118 million per year for the first five years, and a rate of 3.629 million a year for the next 13 years thereafter. While Prada is said to have offered 150 percent over the baseline, Apple allegedly placed a 1 percent bid, quickly ruling itself out of competition.

In Sweden, meanwhile, Apple is believed to be planning its first Scandinavian stores. Last week the company filed documents to form a business called Apple Retail Sweden AB. According to the application, Apple's intent is "To operate, manage and monitor one or more whole or retail shops and the sale...of all types of products, equipment and spare parts in the areas of software, computers, computer equipment, music, communications and related technology." It would also offer "services, advice and or assistance, maintenance and after sales services related to the above activities."




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. DrSkywalker

    Joined: Dec 1969

    0

    comment title

    They should get together with Prada and make the iPhone 4Shoe

  1. bitwrangler

    Joined: Dec 1969

    0

    150% over!

    Wait, so Prada bid ~5mil Euros? A year. For the first 5 years and then ~9mil Euros for the next 13 after that???? Wow, I assume business must be going well or I'd be looking at shorting Prada right now. And while Apple certainly got outbid, the difference between 1% and %150 is so huge that really, it was never really a competition.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lackin ...

toggle

Most Commented