United States Mexican food chain, Chipotle, is set to expand into the Asian market by opening restaurants in South Korea and Singapore in 2026.
The locations will be opened in collaboration with SPC in the burrito chain's attempt to broaden its global reach.
"With a rapidly evolving dining-out business, fueled by preferences for variety and convenience, expanding into Asia presents an incredible growth opportunity for Chipotle," Scott Boatwright, Chief Executive Officer of Chipotle, said.
In the announcement, the company said Chipotle already had cultural relevance in Singapore and South Korea due to endorsements from major K-pop stars in 2021 and 2023.
"Real food prepared fast is in high demand in these markets and with notable brand awareness among consumers, we see potential for strong adoption out of the gate,” Boatwright said.
"Given the familiarity of this iconic brand among Koreans and Singaporeans, and their passion for exceptional culinary experiences, these two markets are ideal entry points for Chipotle in Asia," Heesoo Hur, Executive Vice President and owner of SPC Group, said.
Chipotle currently has 3,800 restaurants worldwide, with 98% in the U.S.. Most of the company’s current international restaurants are in Canada and Europe.
This comes after the restaurant chain penned its first international development agreement in July 2023 with Alshaya Group to open restaurants in the Middle East. Continuing from this, it then signed a deal in April 2025 to develop restaurants in Mexico for the first time, which will open in 2026 in collaboration with leading restaurant operator, Alsea.
The company also hopes to open 315 to 345 restaurants, with a long-term target of 7,000 locations in the U.S. and Canada.
Chipotle (NYSE: CMG) stock fell 1.9% to US$38.71 during Wednesday's U.S. trade. Its market cap is US$51.91 billion.
