HSBC sees Lenskart’s India network growing from 2,500 to 7,000 stores
HSBC initiated coverage on Lenskart with a Hold rating and Rs 513 target, saying much of the growth is priced in despite a long-term path to roughly 7,000 Indian stores. The brokerage cited sub-one-year store paybacks, supply-chain integration and category expansion.
HSBC initiated Lenskart with a Hold and Rs 513 target, saying valuation captures much of its growth. The brokerage sees scope for India stores to rise from about 2,500 to 7,000, supported by integrated supply chain, category expansion and strong unit economics.
Why this matters
The call follows recent signals that HSBC initiated Lenskart at Hold while citing a 7,000-store expansion path, highlighting network-scale potential alongside valuation concerns.
Store-opening is steady, with 1,639 signals in the past 90 days; quarter-over-quarter figures were not provided.