[CHICAGO] Chipotle Mexican Grill is venturing into Asia for the first time, with plans to open locations in South Korea and Singapore in 2026.
It’s the American chain’s latest foray into international markets after announcing earlier this year that it would open in Mexico, its first entry into Latin America. Chipotle has also expanded into the Middle East, adding to locations in countries such as Canada and the UK.
These international markets give Chipotle the runway to keep growing even after it saturates North America, chief executive officer Scott Boatwright said. It’s expected to cross 4,000 locations in the region this year, with a goal of having 7,000 in the longer term.
“I expect international to become the next layer of growth beyond North America that’ll support our brand five, 10, 15 years from today,” Boatwright said.
Chipotle is expanding into Asia through a joint venture with SPC Group, a South Korean food company, according to a statement. The brand gained some recognition in the region after social media posts of Korean pop artists trying it, while in the US, according to Chipotle.
Boatwright said that Chipotle will offer the same menu in South Korea and Singapore as in the US, just like it does in all international markets. He said that he expects the brand to appeal to what he sees as a rising trend of Asian customers seeking convenient but fresh meals.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
“At the core of our menu is really rice, beans and chicken,” he said. “That kind of food, freshly prepared, really works around the globe.”
The Mexican-inspired chain has also paired up with local operators for its incursions into Latin America and the Middle East. Boatwright said he’s not concerned about souring perceptions of American brands hindering Chipotle’s growth plans.
Chipotle last quarter cut its outlook for a second time in 2025 after reporting that same-store sales shrank 4 per cent in the second quarter, the most since 2020.
SEE ALSO
That weighed on its shares, which have declined 35 per cent this year to Tuesday’s close, compared to an 11 per cent increase for the S&P 500 Index.
Value pitch
Boatwright has said that the company is looking to sharpen how it markets to diners that its offerings are a good deal.
On average, Chipotle entrees cost about US$10, according to a survey of 17 major markets by analysts at BTIG. That’s 30 to 40 per cent cheaper than competitors such as Sweetgreen and Cava Group, the report found.
Chipotle recently released a meal bundle to try to entice diners. It also temporarily brought back its carne asada offering, leaning into a successful strategy of limited-time products. Boatwright said that the brand hasn’t had an issue with value perceptions in international markets. BLOOMBERG
