Teavana Fine Teas & Tea Bar, at 85th Street and Madison Avenue on Manhattan’s Upper East Side, has started selling hot brewed and iced teas, loose-leaf teas, merchandise and food.
Starbucks, which dropped the word ‘coffee’ from its logo more than two years ago, has been expanding beyond java, buying juice brand Evolution Fresh Inc in 2011 and pastry company Bay Bread LLC last year. Starbucks acquired Atlanta-based Teavana in January for about $620m – the company’s biggest acquisition so far.
“We are excited to celebrate the first retail example of how our two companies are coming together,” said Starbucks CEO Howard Schultz.
The global tea hot and iced tea category is worth about $90 billion, and tea is the most consumed beverage behind water around the world, Schultz said.
“By selecting only the finest premium loose leaf teas and botanicals to be sold in Teavana mall stores, Teavana has built a strong reputation among tea enthusiasts and introduced casual tea drinkers to new experiences in tea,” said Cliff Burrows, Starbucks group president, Americas, Europe, Middle East and Africa, and Teavana. “We are excited to work together to help create new and innovative ways to delight tea drinkers and continue growing the overall tea category in a variety of ways. The Teavana Tea Bar is a critical first step for us to meet the needs of tea drinkers everywhere by providing a place where tea enthusiasts and casual tea drinkers alike can learn about, enjoy and share in the tea experience.”
Source: Starbucks/Global News
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