CHIPOTLE INTRODUCES ITS REAL INGREDIENTS TO KUWAIT

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Chipotle Mexican Grill (NYSE: CMG) has opened its first location in Kuwait City in partnership with Alshaya Group, marking the company's entry into a new country after over a decade. The restaurant, located at The Avenues Mall, introduces Chipotle's real ingredient menu to the Middle East. The partnership plans to expand further with a new location in Dubai later this year and a total of four new restaurants by 2024. The restaurant offers varied in-restaurant ordering experiences to cater to regional preferences, with a focus on delivering an exceptional dining experience to new guests.

Positive

• Chipotle's entry into Kuwait marks the company's first new country in over 10 years, signaling international growth.
• The partnership with Alshaya Group aims to introduce Chipotle's real ingredient menu to the Middle East.
• The new location in Kuwait features Chipotle's latest design format, showcasing new elements like wood tile floors and Corten art walls.
• Chipotle plans to open its first location in Dubai later this year and expand its international presence.
• The restaurant offers multiple in-restaurant ordering methods to simplify the experience for new guests.

Negative

• None.

• In partnership with the Alshaya Group, a leading international franchise retail operator, Chipotle's first location in the Middle East has opened in Kuwait
• This marks the first time Chipotle has entered a new country in over 10 years
• The new restaurant debuts the company's latest design format and offers a variety of in-restaurant ordering experiences that help introduce Chipotle's menu offerings to new guests in the region
• Alshaya Group plans to further accelerate Chipotle's international growth by opening the company's first location in Dubai later this year, with a total of four new restaurants anticipated in 2024

NEWPORT BEACH, Calif., April 22, 2024 /PRNewswire/ -- Chipotle Mexican Grill (NYSE: CMG) today announced the opening of its first location in Kuwait City in partnership with leading international franchise retail operator Alshaya Group.  The restaurant has been operating with adjusted hours since the beginning of the month to account for holidays and training and will hold its official grand opening on April 23. Chipotle's location in Kuwait marks the first time the company has entered a new country in over 10 years.

The new restaurant is located at The Avenues, Kuwait's largest shopping mall and a hub for international and local brands with over 1,100 stores and approximately one million visitors per week*.

For photos and B-roll video of Chipotle's Kuwait City restaurant, see here: https://www.dropbox.com/scl/fo/untyp75stb06i84mo5j5c/AGr1V_1A2rBr0mgp6cTe3k8?rlkey=pct8qn1yz7m4c7q2366mpfxzi&st=3goiitg4&dl=0.

"In partnership with Alshaya Group, we worked tirelessly to ensure that we delivered an exceptional first impression in Kuwait with our freshly prepared menu of real ingredients and we are encouraged by the early results," said Chief Business Development Officer Nate Lawton. "Together, we'll continue to gather insights on regional preferences and adapt accordingly as we grow our presence in the region and expand upon our mission to Cultivate a Better World."

John Hadden, Chief Executive Officer, Alshaya Group, said: "Consumers have long awaited Chipotle's arrival here in the Middle East and the feedback we've received so far has confirmed that we're delivering the same delicious culinary experience that guests have had in their U.S. locations. We're proud to have introduced this popular American restaurant to Kuwait and we're looking forward to Dubai later this year, as the first locations in our exclusive partnership with Chipotle." 

Expanding Access
To simplify its ordering experience for new guests, the Kuwait restaurant in The Avenues Mall offers three ordering methods:

• Guests can order their craveable burritos, bowls, tacos, and salads in traditional Chipotle fashion by progressing through the front makeline and ordering ingredient by ingredient.
• The Kuwait restaurant features a kiosk ordering system that executes pick-up orders and enables menu exploration for first time guests.
• Tables at the restaurant feature QR codes that drive guests to download the Alshaya Chipotle mobile app for pick-up orders. This method is especially convenient for large families ordering multiple entrees.
• As a digital-only menu item, guests can order a quesadilla via the kiosk or mobile app.

Unveiling a New Design
The new location in Kuwait is the first Chipotle restaurant featuring the company's all new design format. Over the past several years, Chipotle's development team has been building out concepts that deploy new materials, textures, and artwork to amplify the company's commitment to Food with Integrity while paying homage to historic designs. New elements include:

• Wood Tile Floor: replacing Chipotle's traditional concrete floor, it fills the restaurant with warmth and rich patterns.
• Corten Art Wall: the legacy architectural material is transformed into an elevated focal wall that heroes the iconic Chipotle pepper.
• Corten Ceiling Element: this large-scale metal ceiling and lighting element creates a layer of visual richness throughout the space.
• New Wall Finishes: updated surfaces and artisan materials are more textural and help impart a feeling of freshness.

Growing Chipotle's International Presence
In July 2023, Chipotle signed its first-ever development agreement to open restaurants in partnership with the Alshaya Group. Chipotle and Alshaya plan to open the first Chipotle location in Dubai later this year.

Chipotle's existing international portfolio of owned and operated restaurants includes 41 locations in Canada; 19 in the United Kingdom; six locations in France; and two in Germany.  In North America, the company currently owns and operates over 3,400 restaurants and is targeting 8 to 10% growth per year for the foreseeable future with at least 80% including a Chipotlane.

*M2R Group - The Avenues 2022 Report.

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 has over 3,400 restaurants in the United States, Canada, the United Kingdom, France, Germany, and Kuwait and it is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe. Chipotle is ranked on the Fortune 500 and is recognized on Fortune's Most Admired Companies 2024 list and Time Magazine's Most Influential Companies. With over 115,000 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.

Forward-Looking Statements
Certain statements in this press release are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements under the heading "Growing Chipotle's International Presence" and statements beginning with words such as "plans," "expects" or "intends." The forward-looking statements in this press release are based on currently available operating, financial and competitive information available to us as of the date of this release and we assume no obligation to update these forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements, including risk factors described from time to time in our SEC reports, including our annual report on Form 10-K and quarterly reports on Form 10-Q, all of which are available on the investor relations page of our website at www.ir.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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SOURCE Chipotle Mexican Grill

FAQ

How many new restaurants are anticipated by Chipotle in 2024? (CMG)

Chipotle anticipates opening a total of four new restaurants in 2024.

What are the three ordering methods available at Chipotle's Kuwait location in The Avenues Mall? (CMG)

The three ordering methods at Chipotle's Kuwait location are progressing through the front makeline, using the kiosk ordering system, and scanning QR codes on tables to download the Alshaya Chipotle mobile app.

What are some of the new design elements featured in Chipotle's new location in Kuwait? (CMG)

The new design elements include a wood tile floor, Corten art wall, Corten ceiling element, and updated wall finishes.

How many international locations does Chipotle currently own and operate? (CMG)

Chipotle currently owns and operates 41 locations in Canada, 19 in the United Kingdom, six in France, and two in Germany.

When did Chipotle sign its first development agreement with Alshaya Group? (CMG)

Chipotle signed its first-ever development agreement with Alshaya Group in July 2023.