Starbucks has decided to no longer pursue an expansion of its tea chain, Teavana. It will even shut down or remodel 4 of the 5 current stores into Starbucks stores.
1,000 bars in 10 years
In 2012, Starbucks bought Teavana and opened its first New York-based location 2 years later. It had laid out a plan to build a chain, filled to the brim with tea specialties for customers to enjoy. Originally, it even intended to open about 1,000 tea bars in 10 years’ time.
Teavana currently has 5 locations, but only one will soon remain, close to Starbucks’ headquarters in Seattle. Three remaining locations will be turned into a Starbucks while one will simply shut down.
Teavana’s 350 tea stores, located all across the United States, will remain open. These stores offer packaged tea, equipment and accessories, but there is barely any room to drink tea in the store, although they do sell tea “on the go”.
