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 companyâ€™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.