HSBC initiates 'Hold' on Lenskart despite path to 7,000 stores
HSBC sees only ~2% upside to its Rs 513 target on Lenskart, flagging rich valuation even as India's largest eyewear player expands from ~2,500 to a potential 7,000 stores. The chain holds ~20% organised share in a market growing 13% annually, with store payback under a year.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing rich valuation despite strong growth. It sees Lenskart, India's largest eyewear player at ~20% organised share, expanding from 2,500 to 7,000 stores over time.
Why this matters
HSBC's cautious 'Hold' on Lenskart at Rs 513 lands amid Lenskart-vs-Titan comparisons over India's $9.2B eyewear market, weighing tech-led scale against rich valuation despite a 7,000-store runway.
Retail-company signals accelerating, up +571200% QoQ.