“‘Chipotle was founded in Denver in 1993 and grew to be one of the most successful fast-food companies ever. This video explains how Chipotle founder Steve Ells turned his love of burritos into a chain of about 500 restaurants over the past twenty years. ” – Bloomberg Quicktake Originals
Chipotle Story Based on Public Facts
Speciality of Chipotle
Chipotle Mexican Grill is often known simply as Chipotle, is an American chain of fast casual restaurants Specialising in bowls, tacos and Mission burritos made to order in front of the customer. It operates restaurants in the United States, United Kingdom, Canada, Germany, and France. Its name derives from chipotle, the Nahuatl name for a smoked and dried jalapeño Chilli pepper.
Chipotle Inception & Founder
Founded by Steve Ells on July 13, 1993, 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.
Expansion of Chipotle
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. In May 2018, Chipotle announced the relocation of their corporate headquarters to Newport Beach, California, in Southern California, ending their relationship with Denver after 25 years.