Lenskart sees runway to grow India network from 2,500 to 7,000 stores, resurfacing HSBC's April coverage
Resurfacing an April call, HSBC had initiated coverage on Lenskart with a Hold rating and ₹513 target, citing limited near-term upside despite the eyewear retailer's expansion potential. The broker pointed to sub-one-year store payback, supply-chain integration and omnichannel demand as supports for a much larger India footprint.
HSBC initiated Lenskart with a Hold and Rs 513 target, citing valuation despite strong execution. The eyewear retailer plans potential expansion to 7,000 India stores from 2,500, supported by integrated supply chain, rapid store payback and omnichannel demand.
Why this matters
The resurfaced April call follows signals on Lenskart's July filing for a ₹2,150 crore fresh-capital IPO and HSBC's view that upside is limited despite a 7,000-store India opportunity.
Store-opening is steady at 1,705 signals in 90 days; no QoQ comparison was supplied.