Chipotle plans its first Asian restaurant locations in Korea and Singapore

The Korean logo for Chipotle Mexican Grill [SPC GROUP]

 
SPC Group confirmed Thursday that it will launch Chipotle Mexican Grill’s first Asian locations in Korea and Singapore next year.
 
The group’s affiliate Big Bite Company secured the exclusive rights to operate the U.S. food chain in the two countries after establishing a joint venture with Chipotle, called S&C Restaurants Holdings.
 

Scott Boatwright, right, CEO of Chipotle Mexican Grill, and Hur Hee-soo, vice president of SPC Group, sign an agreement to establish a joint venture to operate Chipotle’s business in Korea and Singapore. [SPC GROUP]

 
This marks Chipotle’s first overseas expansion through a joint venture.
 
The locations for the first stores in Seoul and Singapore have not been disclosed yet.
 
Founded in 1993, Chipotle is a U.S.-based fast casual restaurant that specializes in burritos, burrito bowls, tacos and quesadillas. Chipotle does not use artificial colors, flavors or preservatives and allows customers to customize their toppings.
 

A Chipotle Mexican Grill store [SPC GROUP]

 
As of June 30, the chain operates over 3,800 branches across the United States, Canada, Britain, France, Germany, Kuwait and the United Arab Emirates. Chipotle went public on the New York Stock Exchange in 2006 and was added to the S&P 500 index in 2011.
 
“We will recreate Chipotle’s fresh and healthy flavors locally and provide a unique dining experience while leading both domestic and global restaurant trends,” SPC Vice President Hur Hee-soo said in a statement.
 
Big Bite Company currently operates 32 Korean branches for the burger restaurant Shake Shack and 33 for the juice bar Jamba.

BY SHIN MIN-HEE [[email protected]]