Chipotle's new product unveil: the e-rrito plus
Guac is virtual... Chipotle was feeling the pain of the corona-crisis: after two months of double-digit growth, its sales dropped 35% during the last week of March. But the burrito legend stuck to its guns and saw the bowl half full — it even bumped hourly employee pay by 10% and doled out bonuses. Most importantly, though... it went extra digital this quarter:
A techy burrito factory… Chipotle has been turning into one, and the transformation has accelerated while its tables are closed:
A new leader can completely change a company's direction... CEO Brian Niccol (formerly Taco Bell's leader) took Chipotle down a completely different Chipotlane. In the 2 years before he became CEO, Chipotle's stock fell 60%. In the 2 years since, Chipotle is up 246% thanks to Niccol's forward-looking biz moves (shoutout Chipotlanes). Niccol may not be a gourmet foodie, but his digital strategy is coming in clutch.