Hong Kong-based health and beauty retailer Watsons is planning a massive expansion in China.

The company says it plans to open 2000 stores in the next five years.

Watsons opened its first store in mainland China in 1989. This year, it has around 1000 stores in more than 100 cities.

“By the end of 2016, we will have 3000 stores in more than 300 cities,” said Christian Nothhaft, CEO of Watsons China.

“The Chinese mainland is a promising market. Watsons will maintain its high-speed development strategy. We invest hundreds of millions of yuan into opening new stores every year,” said Nothhaft.

Watsons will primarily target cities with high population density such as first tier cities. However, smaller cities like Zhejiang, Fujian, Shaanxi, Liaoning, Anhui and Heilongjiang are also eyed as potential market.

“We are already in 150 cities, and our expansion has shown that these third-, fourth- and sometimes fifth-tier cities already have good markets,” said Nothhaft.

Watson, a part of A.S. Watson Group, has more than 9700 stores located in 33 markets around the world.

GB