Seoul: SPC Group will introduce Chipotle Mexican Grill, a leading U.S. fast food dining brand, to Asia for the first time, the company said Thursday. Big Bite Company, an affiliate of the South Korean food and beverage group, has established a joint venture, named S and C Restaurant Holdings, with Chipotle and secured exclusive operating rights in South Korea and Singapore.
According to Yonhap News Agency, Big Bite Company plans to open Chipotle outlets in Seoul and Singapore starting next year. The partnership marks Chipotle's first overseas expansion through a joint venture, highlighting a significant step in the brand's global growth strategy.
Founded in 1993 in the United States, Chipotle offers Mexican cuisine with a modern twist. It went public on the New York Stock Exchange in 2006 and was added to the S and P 500 index in 2011, becoming one of the top dining brands in America. The company currently operates more than 3,800 stores across seven countries, including the United States, Canada, Britain, Kuwait, and the United Arab Emirates, with about 98 percent of them located in the U.S.