Chipotle Mexican Grill Inc is preparing to make its first move into Asia, announcing plans to open outlets in Singapore and South Korea in 2026 through a joint venture with South Korea’s SPC Group. The expansion marks the latest step in the US-based chain’s international growth strategy after it revealed earlier this year that Mexico would be its first Latin American market.
The burrito and bowl specialist, which already operates in the UK, Canada, and the Middle East, is banking on Asia’s appetite for fresh, convenient food. Chief executive officer Scott Boatwright said international markets will form the company’s “next layer of growth” beyond North America, supporting Chipotle’s long-term target of 7,000 outlets globally. The brand expects to surpass 4,000 locations in North America by the end of this year.
Boatwright noted that Chipotle’s menu will remain unchanged in Asia, offering its signature rice, beans, chicken, and carne asada, a formula that has already gained visibility among Asian audiences after Korean pop stars were seen eating at Chipotle outlets in the United States.
The company faces this expansion at a challenging time. Same-store sales dropped 4 percent in the second quarter of 2025, the steepest decline since 2020, leading Chipotle to cut its full-year outlook for the second time. Its shares have slipped 35 percent so far this year, sharply underperforming the S&P 500 Index, which is up 11 percent.
Despite the slowdown, Chipotle is sharpening its value pitch. According to BTIG analysts, its average entrée costs about US$10 (RM42.20), roughly 30 to 40 percent cheaper than rivals like Sweetgreen Inc and Cava Group Inc. Limited-time promotions, such as the recent return of carne asada and new bundled meals, are part of efforts to attract cost-conscious diners.
