Resurfacing HSBC’s April 2026 call: Lenskart’s India network seen scaling from 2,500 to 7,000 stores
Resurfacing an April 2026 move, HSBC had initiated coverage of Lenskart with a Hold rating and Rs 513 target, citing limited near-term valuation upside. The brokerage expects the eyewear retailer’s omnichannel model and sub-one-year store payback to support a long-term expansion from about 2,500 to 7,000 Indian stores.
HSBC initiated Lenskart with a Hold and Rs 513 target, citing limited valuation upside despite strong growth prospects. The brokerage expects its integrated omnichannel model, sub-one-year store payback and organised-market adoption to support expansion from about 2,500 to 7,000 India stores.
Why this matters
The HSBC call follows signals on Lenskart adding 203 Indian stores in H1 FY26 and advancing AI-led eye care, delivery and local production to support its omnichannel expansion.
Store-opening activity is steady, with 1,410 signals recorded in the past 90 days.