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Malaysia's Secret Recipe Plans 100 China Outlets
July 10, 2006 | By China Retail News |
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Steven Sim, CEO of Malaysian confectioner Secret Recipe, says the company plans to open 100 outlets in China by 2010.
Speaking to reporters on July 6 after signing international franchise agreements with the company’s partners from East Malaysia, India and New Zealand in Putrajaya, Sim said China is "a challenging market" and a lot of ground work needed to be done.
He said the company was looking at either carrying out a joint venture with local partners or implementing a franchise scheme in its expansion to China.
"Obviously Shanghai will be our first target market and Beijing next," Sim said.
There are currently 120 Secret Recipe outlets in Southeast Asia.
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