Chipotle Mexican Grill has announced a joint venture with South Korea-based SPC Group to launch its first restaurants in Asia, with openings planned in South Korea and Singapore by 2026. This move marks Chipotle’s initial foray into the Asian market, aiming to capitalise on the region’s growing demand for diverse and convenient dining options.
The collaboration with SPC Group, a prominent food company in South Korea, is seen as a strategic entry into markets where Chipotle already enjoys brand recognition.
Scott Boatwright, Chipotle’s CEO, highlighted the opportunity, stating, “Real food prepared fast is in high demand in these markets and with notable brand awareness among consumers, we see potential for strong adoption out of the gate.”
Heesoo Hur, Executive Vice President of SPC Group, expressed enthusiasm for the partnership, noting, “Given the familiarity of this iconic brand among Koreans and Singaporeans, and their passion for exceptional culinary experiences, these two markets are ideal entry points for Chipotle in Asia.”
The expansion into Asia follows Chipotle’s recent international growth efforts, including agreements to open restaurants in the Middle East and Mexico. Currently, Chipotle operates over 3,800 restaurants worldwide, with a significant presence in North America and Europe.
This venture is part of Chipotle’s broader strategy to increase its global footprint, with plans to open between 315 and 345 new restaurants this year alone. The company aims to leverage its reputation for responsibly sourced, freshly prepared food to attract new customers in Asia, further solidifying its position as a leader in the fast-casual dining sector.
