Zhang Lan, chairman of the South Beauty Group, revealed during an interview that the company is accelerating its expansion on the Chinese mainland and it plans to open 30 new restaurants in this marketplace in 2011.
With the opening of these new outlets, the Chinese restaurant chain will have about 90 restaurants in mainland China. At the same time, the company is seeking acquisition opportunities in Japan.
Zhang told local media that Japan's economic situation is depressed and the valuation of local companies is relatively reasonable. Compared with the Japanese market, there are larger risks in the European and American markets, so the company currently has no plan to enter these regions.
So far, South Beauty has opened about 60 restaurants in 15 Chinese cities, including Beijing, Shanghai, and Tianjin, and it has about 7,000 employees.