Chipotle said Tuesday that it entered into an agreement with Kuwait-based Alshaya Group, its first franchise partner, to launch locations in the Middle East in 2024.
At this time, Chipotle has more than 50 locations in Canada and Europe. The deal with Alshaya marks the first time it uses a local retail franchise operator to enter a new market.
"As we look around the world, we'll be evaluating all the elements of what makes Chipotle great, and if there's an area where we believe we need a partner, then we'll consider a partner for it," Chipotle CEO Brian Niccol told CNBC in an interview.