Lenskart targets 7,000 India stores as HSBC's April Hold-rated coverage resurfaces
Lenskart plans to expand its India network from about 2,500 stores to roughly 7,000, supported by sub-one-year store payback and omnichannel demand. HSBC initiated coverage in April with a Rs 513 target, implying only about 2% upside despite the growth runway.
HSBC initiated Lenskart at Hold with a Rs 513 target, citing limited valuation upside despite strong growth prospects. The eyewear retailer plans to expand from about 2,500 to 7,000 India stores, supported by fast payback, integrated supply chain and omnichannel demand.
Why this matters
The expansion plan follows Lenskart’s 24% revenue growth and 19.8% Q2 EBITDA margin signal. HSBC’s April Hold coverage also cited room for 7,000 India stores, as Lenskart and Titan compete for eyewear-market position.
Store-opening is steady: 1,356 signals in the past 90 days; no QoQ change was provided.