In partnership, Chipotle will open restaurants in
Kuwait and the United Arab Emirates in 2024
NEWPORT BEACH, Calif.,
July 18, 2023 /PRNewswire/
-- Chipotle Mexican Grill (NYSE: CMG) today announced it has
signed its first-ever development agreement to open restaurants in
the Middle East and accelerate its
international expansion efforts. In partnership with leading
international franchise retail operator Alshaya Group, the Company
will initially open new restaurants in Dubai and Kuwait early next year before expanding
further across the region.
"Leveraging Alshaya's market expertise will enable us to quickly
gain access to these vibrant economies," said Chairman and Chief
Executive Officer Brian Niccol. "We
are excited to offer guests in the Middle
East our responsibly sourced, classically-cooked real
food, and look forward to furthering our purpose to cultivate a
better world in this new territory."
Mohammed Alshaya, Executive Chairman of Alshaya Group said: "In
announcing this exclusive partnership across the Middle East, we are proud to be Chipotle's
first and only franchise partner, as we continue to enhance our
portfolio by bringing world leading brands to our customers across
our markets."
Chipotle's existing international portfolio of owned and
operated restaurants includes 33 locations in Canada; 15 in the United Kingdom with three more opening this
summer; six locations in France;
and two in Germany. In North America, the Company currently
owns and operates over 3,200 restaurants and is targeting 8 to 10%
growth per year for the foreseeable future with at least 80%
including a Chipotlane. Chipotle plans to open more than 255 new
restaurants this year, with a long-term target of 7,000 locations
in North America.
Chipotle's newly formed business development group, led by Chief
Business Development Officer Nate
Lawton, is exploring opportunities for growth via outside
partnerships. Information on submitting a proposal can be found at
https://ir.chipotle.com/contact-us.
ABOUT CHIPOTLE
Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better
world by serving responsibly sourced, classically-cooked, real food
with wholesome ingredients without artificial colors, flavors or
preservatives. Chipotle had over 3,200 restaurants as of
March 31, 2023, in the United States, Canada, the United
Kingdom, France and
Germany. Chipotle is ranked on the
Fortune 500, and is recognized on the 2023 list for Fortune's Most
Admired Companies and Time Magazine's Most Influential Companies.
With over 100,000 employees passionate about providing a great
guest experience, Chipotle is a longtime leader and innovator in
the food industry. Chipotle is committed to making its food more
accessible to everyone while continuing to be a brand with a
demonstrated purpose as it leads the way in digital, technology and
sustainable business practices. For more information or to place an
order online, visit www.chipotle.com.
ABOUT ALSHAYA GROUP
Alshaya Group is a dynamic family-owned enterprise, first
established in Kuwait in 1890.
With a consistent record of growth and innovation, Alshaya Group is
one of the world's leading brand franchise operators, offering an
unparalleled choice of well-loved international brands to
customers,
Alshaya Group's portfolio extends across MENA, Türkiye and
Europe, with thousands of stores,
cafes, restaurants and leisure destinations, as well as a large
scale online and digital business.
Operating in multiple sectors including Fashion, Food, Health
& Beauty, Pharmacy, Home Furnishings and Leisure &
Entertainment, Alshaya Group colleagues are united by a commitment
to authentically deliver great customer service and brand
experiences.
Fresh, modern and relevant, Alshaya's constantly evolving
portfolio reflects the choices and lifestyle of its customers. From
flagship stores and restaurants in prestige malls, through to local
coffee shops, drive-thrus and online, Alshaya Group brings
customers the brands they love in the places they want to
be. Learn more about Alshaya Group at www.alshaya.com.
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