For faithful customers of Mexican chain Chipotle, celebrations featuring extra guac and a side of queso are in order.
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The fast-casual titan announced it is building a real estate pipeline that will “allow it to accelerate new unit growth to be in the range of 8% to 10% per year.” The chain also announced it will open its 1,000th Chipotlane restaurant, its drive-thru concept with a pick-up lane for digital orders, on Thursday in the Kansas City metro area.
The majority of the company's new restaurants will feature a Chipotlane.
“Chipotlanes are a critical piece of our long-term growth goal of reaching 7,000 restaurants in North America,” Chipotle Chief Brand Officer Chris Brandt said in a release. “This restaurant format is the fastest way for fans to get Chipotle and has proven to increase sales, margins, and returns.”
Chipotle is set to open between 285 and 315 new restaurants in 2024, a new high mark for the business. Next year, the company anticipates opening between 315 and 345 new locations, with at least 80% including a Chipotlane.
The company introduced its drive-thru format in 2018, offering customers the option of picking up digital orders in their cars.
Chipotle said in the release that these store formats have produced higher volumes and greater returns than traditional Chipotle restaurant formats.
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