Resurfacing HSBC's April 2026 call: Lenskart's India network seen scaling from 2,500 to 7,000 stores
Resurfacing an April 2026 initiation, HSBC had started coverage on Lenskart with a Hold rating and a Rs 513 target, citing limited near-term upside despite a long runway for expansion. The brokerage estimated the eyewear retailer could grow its Indian store base from about 2,500 to 7,000, supported by sub-one-year store payback and omnichannel operations.
HSBC initiated Lenskart with a Hold and Rs 513 target, saying valuation limits upside despite strong growth prospects. The eyewear retailer could expand from about 2,500 to 7,000 Indian stores, supported by integrated supply chains, attractive unit economics and omnichannel customer acquisition.
Why this matters
The resurfaced HSBC view follows recent signals highlighting Lenskart's 7,000-store India network plan and renewed attention on the brokerage's April Hold initiation.
Store-opening is steady, with 1,607 signals recorded in the past 90 days.