Resurfacing HSBC's April 2026 call: Lenskart could scale to 7,000 India stores, but coverage started at Hold
Revisiting HSBC's April 2026 initiation of coverage on Lenskart with a Rs 513 target price, citing a long-term path from about 2,500 to 7,000 Indian stores. The brokerage said strong unit economics and omnichannel capabilities support expansion, but valuation already reflects much of the opportunity.
HSBC initiated Lenskart at Hold with a Rs 513 target, saying valuation captures much of its growth. It forecasts expansion from about 2,500 to 7,000 Indian stores, supported by strong store economics, integrated supply chain, value pricing and omnichannel retail.
Why this matters
The signal echoes recent coverage that HSBC initiated Lenskart at Hold as the retailer targets a 7,000-store network, while another resurfaced call highlighted limited upside despite the store-expansion runway.
Store-opening is steady, with 1,566 signals recorded in the past 90 days.