Resurfacing HSBC's April 2026 call: Lenskart's India network seen scaling from 2,500 to about 7,000 stores
Resurfacing an April 2026 report, HSBC had initiated coverage of Lenskart with a Hold rating and a Rs 513 target, citing limited near-term upside despite strong fundamentals. The brokerage saw long-term scope for the eyewear retailer to expand its India network to roughly 7,000 stores, supported by organised-market growth and sub-one-year store payback.
HSBC initiated Lenskart with a Hold and Rs 513 target, citing rich valuation despite strong fundamentals. It expects growth from organised eyewear adoption, integrated manufacturing and omnichannel execution, with India store potential rising from about 2,500 to 7,000.
Why this matters
Recent signals repeatedly identified Lenskart and Titan as key rivals in India's eyewear market, while another resurfaced HSBC's early-April Hold call and 7,000-store forecast.
Store-opening is steady, with 1,499 signals in the past 90 days; QoQ change was not provided.