News

Starbucks to open first Teavana store

Starbucks to open first Teavana store

STARBUCKS EXPANDING: Starbucks plans to open Teavana stores. Photo: Reuters

(Reuters) – Having made its mark in the global coffee market, Starbucks Corp is setting its sights on tea – the world’s most consumed beverage after water – which it dubs a $90 billion market opportunity.

On Thursday, the Seattle company will open its first Teavana tea store and bar on Manhattan’s Upper East Side. The debut comes as Starbucks expands its reach with new shops focusing on everything from premium tea to pressed juices.

“This new store concept elevates the tea experience in the same way we’ve done for coffee,” Starbucks Chief Executive Howard Schultz said in a statement.

Starbucks’ $620 million purchase of tea store chain Teavana Holdings Inc. last year was the coffee chain’s largest acquisition to date.

Its new Teavana store will have a tea bar serving hot and cold drinks, including tea lattes and sparkling tea-based drinks. It also will sell food ranging from sweets to salads and flat breads as well as loose-leaf teas and merchandise such as teapots.

Teavana had about 300 shopping mall stores that sold loose-leaf, exotic teas when it was bought by Starbucks. The coffee chain said it would decide later whether to add tea bars to those existing stores.

Tea is not new territory for Starbucks. It bought Tazo tea for $8.1 million in 1999 and built it into a billion-dollar brand through sales at Starbucks stores and the grocery aisles of other retailers.

The company opened a Tazo tea store in Seattle last year and now plans to convert it to a Teavana store that will open in mid-November.

Starbucks also has opened four Evolution Fresh juice bars since its $30 million purchase of the juice maker in 2011.

Recent Headlines

in Sports

SNF on KPUG: Manning breaks Favre’s TD mark in 42-17

Fresh
Denver Broncos quarterback Peyton Manning (18) warms up prior to an NFL preseason football game against the Houston Texans, Saturday, Aug. 23, 2014, in Denver.

He surpassed Favre's mark with an 8-yard strike to Demaryius Thomas late in the second quarter. As he went to retrieve the football, his teammates decided to have some fun.

in Local Sports

Sounders rally for 2-2 tie with LA Galaxy

Seattle Sounders head coach Sigi Schmid applauds as he leaves the field after the first game of the Western Conference semifinals in the MLS Cup soccer playoffs against the Portland Timbers, Saturday, Nov. 2, 2013, in Seattle. The Timbers won 2-1 in the first of the two-game aggregate playoff series.

Clint Dempsey and Lamar Neagle scored in the second half, rallying the Seattle Sounders to a 2-2 tie with the LA Galaxy on Sunday night.

in Local Sports

Bellingham beats Orcas Island

football helmet

The Red Raiders have won four straight games for the first time since 2008.

in Sports

NFL week 7 scoreboard

A football before the first half of an NFL preseason football game between the Green Bay Packers and the Seattle Seahawks Friday, Aug. 23, 2013, in Green Bay, Wis.

All the scores from around the National Football League

in Local Sports

Canucks assign center Bo Horvat to AHL Utica

Canucks fans

The 6-foot-1, 216-pound center was selected by Vancouver with the ninth overall pick in the 2013 draft.