Singapore-listed bakery chain BreadTalk plans to double the number of mainland outlets in the next two years.
Founder and chairman George Quek said the company would have 550 outlets across the mainland by 2014, compared with about 300 now.
He admitted that a shortage of local talent and dearth of quality retail space were the main stumbling blocks for the expansion.
"We have the resolution and confidence in competing in this fast-growing market," Quek said. "The bakery business could grow on a fast track over the coming two decades, benefiting from the scale of the economy and people's increasing income."
He expects mainland revenue to grow at least 30 per cent a year.
Revenue from the mainland would account for more than 50 per cent of BreadTalk's total in three years, Quek said.
A new class of consumer is emerging on the mainland, described by McKinsey & Co as "new mainstream consumers" with annual household income above 106,000 yuan.