HSBC's April 2026 note flags room for 7,000 Lenskart stores in India, resurfacing its Hold call
Resurfacing an April 2026 report, HSBC initiated Lenskart with a Rs 513 target and Hold rating, saying growth is largely priced in. The broker estimated the eyewear retailer could expand its India network from about 2,500 stores to roughly 7,000, supported by sub-one-year store payback and a growing organised market.
HSBC initiated Lenskart with a Hold and Rs 513 target, saying valuation reflects growth. It sees scope for roughly 7,000 India stores from 2,500, supported by integrated supply chain, sub-one-year store payback, organised retail adoption and eyewear-market growth.
Why this matters
The HSBC Hold call follows signals on Lenskart's planned 7,000-store expansion and its growing rivalry with Titan in India eyewear, while a July 2025 block deal showed major investors trimming Lenskart stakes.
Store-opening is steady, with 1,319 signals recorded in the past 90 days.