"We will try our best to catch up, hopefully we will achieve this," said Chairman of the Lion Group, Tan Sri William Cheng, who is also Chairman of Parkson Holdings Bhd, the investment holding company of PRGL.
Cheng said the company's sales in China last year had slowed to four per cent amid the economic downturn.
Parkson recorded a net profit of 1.4 billion yuan last year, he told Bernama on the sideline of an awards ceremony here on Thursday for the 2012 Outstanding Chinese Entrepreneurs Entering Asean, and Outstanding Asean Entrepreneurs Entering China Award.
On the company's expansion in China, he said Parkson planned to open five to eight outlets every year in the first, second and third-tier cities in China.
"We would also open five to eight stores in South East Asia this year, including in Malaysia, Vietnam, Indonesia, and Myanmar." There are 54 Parkson outlets in China current