Overview

• Chipotle announced a joint venture with South Korea-based SPC Group to launch its first restaurants in Asia.
• The initial locations are slated for 2026 in South Korea and Singapore, and the company did not disclose how many units it plans to open.
• CEO Scott Boatwright said expanding into Asia presents a significant growth opportunity given shifting dining preferences toward variety and convenience.
• The move follows partnerships with Alshaya Group in the Middle East and Alsea in Mexico, alongside existing company-run restaurants in Canada, the UK, France and Germany.
• Chipotle operates more than 3,800 restaurants with roughly 98% in the United States, plans 315 to 345 openings this year, and maintains a long-term goal of 7,000 locations in the U.S. and Canada as it recalibrates near-term sales expectations.