Company type | Public |
---|---|
Industry | Restaurants |
Genre | Fast casual |
Founded | July 13, 1993[1] |
Founder | Steve Ells |
Headquarters | Newport Beach, California, U.S. |
Number of locations | 3,500 (June 2024) |
Area served |
|
Key people | Scott Maw, Chairman Scott Boatwright, CEO |
Products | |
Revenue | US$9.87 billion (2023) |
US$1.56 billion (2023) | |
US$1.23 billion (2023) | |
Total assets | US$8.04 billion (2023) |
Total equity | US$3.06 billion (2023) |
Number of employees | 116,068 (December 2023) |
Subsidiaries |
|
Website | chipotle |
Footnotes / references [2] |
Chipotle Mexican Grill, Inc. (/tʃɪˈpoʊtleɪ/, chih-POAT-lay),[3] often known simply as Chipotle, is an American multinational chain of fast casual restaurants specializing in bowls, tacos, and Mission burritos made to order in front of the customer.[4][5][6] As of June 30, 2024, Chipotle has 3,500 restaurants.[7] Its name derives from chipotle, the Nahuatl name (from chilpoctli) for a smoked and dried jalapeño chili pepper.[8][9]
Chipotle was one of the first chains of fast casual dining establishments.[10] It was founded by Steve Ells on July 13, 1993. Ells was the founder, chairman, and CEO of Chipotle. He was inspired to open the restaurant after visiting taquerias and burrito shops in San Francisco's Mission District while working as a chef. Ells wanted to show customers that fresh ingredients could be used to quickly serve food. Chipotle had 16 restaurants (all in Colorado) when McDonald's Corporation became a major investor in 1998. By the time McDonald's fully divested itself from Chipotle in 2006, the chain had grown to over 500 locations.[11] With more than 2,000 locations, Chipotle had a net income of US$475.6 million and a staff of more than 45,000 employees in 2015.[12]
In May 2018, Chipotle announced the relocation of their corporate headquarters to Newport Beach, California, in Southern California, leaving Denver after 25 years.
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