HSBC sees Lenskart’s India store network scaling from 2,500 to 7,000
HSBC initiated coverage on Lenskart with a Hold rating and Rs 513 target, citing roughly 2% implied upside despite strong store economics. The brokerage sees room for the eyewear retailer to expand its India network from about 2,500 to 7,000 stores over the long term.
HSBC initiated Lenskart with a Hold and Rs 513 target, citing limited valuation upside despite strong integrated supply-chain economics. The brokerage expects India store expansion from about 2,500 to 7,000, supported by an underpenetrated eyewear market and omnichannel customer acquisition.
Why this matters
The signal reinforces recent coverage linking HSBC's April Hold initiation to Lenskart's 7,000-store India ambition, including signals on the 7,000-store push resurfacing and runway for expansion.
Store-opening is steady, with 1,589 signals recorded in the past 90 days.