Chipotle has chosen South Korea as its gateway into Asia. The fast-casual chain has introduced a joint-venture structure for the first time in its international expansion, opening its first Gangnam location and planning to add more stores in Korea this year before expanding into Singapore next year.
S&C Restaurant Holdings (S&C), Chipotle’s Korean operating company, held a press conference near Gangnam Station in Seoul on the 1st and unveiled “Chipotle Gangnam,” its first Korean location and the brand’s first store in Asia. The store officially opens on the 2nd.
S&C is a joint venture established by Big Bite Company, an affiliate of Sangmidang Holdings, and Chipotle Mexican Grill. Big Bite Company holds a 51% stake, while Chipotle owns the remaining 49%.
This is the first time Chipotle has established a joint venture for an overseas market. Big Bite Company, which operates global restaurant brands including Shake Shack and Jamba, secured exclusive operating rights for Chipotle in South Korea and Singapore through the partnership.
Founded in the United States in 1993, Chipotle is a fast-casual restaurant brand built around its “Food with Integrity” philosophy. Its signature approach allows customers to choose their own ingredients to customize their meals, while food is prepared fresh in each store every day.
Chipotle selected South Korea as its first Asian market because of the country’s strong interest in global dining trends and the widespread popularity of personalized consumption. The company plans to establish its operating model in Korea before gradually expanding its Asian business.
S&C plans to open its second and third Korean locations by the end of this year. It will then open its first Singapore location in the first half of next year, marking the company’s full-scale expansion into the Asian market.
The Gangnam location has 96 seats and features a modern, minimalist interior using wood and metal materials to create Chipotle’s signature casual atmosphere. An open kitchen allows customers to watch food preparation and cooking.
The menu, preparation methods, and ordering process are the same as those used at Chipotle locations in the United States. The company does not use artificial flavors, artificial colors, or preservatives in its food, and ingredient preparation and menu production are carried out fresh at the store each morning.
Heo Hee-soo, CVO of Sangmidang Holdings, said the company would faithfully implement Chipotle’s high quality standards and brand philosophy while providing Korean customers with a premium experience.
Scott Boatwright, Chipotle’s CBO, described South Korea as a market with strong growth potential and said the company plans to expand throughout Asia by focusing on Chipotle’s differentiated value of offering delicious food at reasonable prices that customers can freely customize.
