HSBC sees Lenskart’s India network reaching 7,000 stores, resurfacing its early-April Hold call
HSBC initiated coverage on Lenskart in early April with a Rs 513 target price and Hold rating, citing limited near-term upside despite a long-term path from about 2,500 to 7,000 India stores. The broker points to under-one-year store payback and rising organised eyewear demand.
HSBC initiated Lenskart at Hold with a Rs 513 target, citing valuation despite strong growth. It expects India’s largest eyewear retailer to scale from about 2,500 to 7,000 stores, supported by integrated manufacturing, supply chain, omnichannel retail and organised-market growth.
Why this matters
The resurfaced Hold call follows signals on Lenskart and Titan’s eyewear rivalry and Lenskart’s testing, delivery and local manufacturing expansion, while HSBC argues much of the 7,000-store opportunity is already priced in.
Store-opening is steady, with 1,493 signals recorded in the past 90 days.