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Starbucks Is Closing All Of Its 379 Teavana Stores Due To Performance Issues

Photo: Shella Thomson on Flickr.

Just five years after acquiring the tea retailer for $620 million, Starbucks has decide to shutter all of Teavana’s stores due to performance issues.

In a press release sent out by Starbucks’ corporate branch, the company announced the closure of the 367 storefronts, which are primarily in malls, due to what’s been described as a persistent lack of performance. All of the stores will be closed by Spring 2018, and the 3,300 employees whose jobs are affected by the shutterings will be receive the chance to apply for positions at Starbucks stores.

Teavana was a retail brand and storefront primarily found in shopping malls, which have been suffering from dramatically decreased foot traffic over recent years and have caused other mallplace mainstays like JC Penny and GameStop to shut down many stores, according to CNN Money. Leading global financial services company Credit Suisse has also suggested in a recent report that as many as a quarter of America’s shopping malls will close within the next five years, meaning that brands like Teavana, which used to thrive in malls, would suffer massive blows.

Based on that, it’s smart for Starbucks to be pulling the plug on Teavana’s brick-and-mortar locations as they look to continue growth across the world. The coffee giant aims to create 68,000 more jobs over the next five years in the United States, so hopefully those Teavana staffers won’t have too hard of a time finding a new job.

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Fast Food

Starbucks x Teavana Roll Out Green Tea Miso Soup and Tea Smoothies

misotea

At Teavana Tea Bars, you can drink your teas and eat them too.

Earlier this week, Starbucks brand Teavana opened its latest Tea Bar location in Beverly Hills, toting along a slew of new menu items perfect for its fancy new digs. Sure there are a few duds, like the Butternut Squash Couscous Salad and Mediterranean Veggie Sandwich, that don’t contain nearly enough caffeine. But the rest of the line more than makes up for it.

There’s the Sparkling Kona Breeze Iced Tea, a blend of Teavana’s Pineapple Kona Pop, Peach Tranquility Tea, and carbonated pineapple coconut water. There’s the Apple Oolong Chia Fresca: oolong and pu-erh with apple juice and chia seeds.

Most exciting though are the tea smoothies and Genmaicha Green Tea Miso Tea Soup: true tea lovers’ soggy tea bag wet dreams. The smoothies are blended with Greek yogurt and fresh fruit, with flavors including Mixed Berry, Banana Chai, and Matcha Avocado, while the soup features a miso and ginger broth that’s been spiked with genmaicha (brown rice green tea) and loaded with tofu, spinach, and scallions.

According to a press release, the new menu will also be available at the Teavana tea bars in Chicago, New York, and Seattle.

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Deals

Treat Mom to a Free Oprah Chai Tea Latte This Mother’s Day

Starbucks-Iced-and-Hot-Oprah-Chai-Tea-Lattes

Who: Starbucks
What: Buy one get one free Oprah Chai Tea Lattes (You get a latte! YOU get a latte! EVERYBODY GETS A LATTE!)
Where: Participating U.S and Canada Starbucks locations as well as Teavana Fine Tea + Tea Bars
When: May 11, in honor of Mother’s Day

H/T + PicThx Brand Eating

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Hit-Or-Miss

New Starbucks Oprah Tea Isn’t Made with Tiny Bits of Oprah

starbucksoprah

If you’ve ever wondered how the most successful woman in the world starts her day, a new collaboration between coffee giant Starbucks and media mogul Oprah Winfrey could be just the thing to put your questions to rest.

At its annual shareholders meeting on Wednesday, Starbucks, which acquired the Teavana brand back in 2012, announced its new blend of Teavana Oprah Chai Tea. Personally developed by Winfrey herself, the tea features cinnamon, ginger, cardamom, and cloves, and will be available in Starbucks and Teavana stores and tea bars starting April 29.

“My daily tea ritual is a vital part of my morning,” Winfrey told shareholders at Wednesday’s meeting, according to Forbes.

“With the introduction of Teavana Oprah Chai,” added Starbucks CEO Howard Schultz, “we are going to elevate the tea experience in the same way we did for coffee.”

Portions of each purchase go to the Oprah Winfrey Leadership Academy for Girls. Here’s to hoping for specially branded cups with daily Winfrey-isms printed on them, too.

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Hit-Or-Miss

Starbucks Reaches Teavana With New Tea Bar

Teavanna bar
Starbucks hopes to do for tea what it’s done for coffee with the debut of its first teahouse, Teavana Fine Teas + Tea Bar.

Located in the Upper East Village, the chain’s first step outside the coffee world is described by CEO Howard Schultz as being the complete opposite of the Starbucks cafes we know and love. “The difference between a Starbucks coffee shop and a Teavana teahouse “is like night and day, it’s much more zen-like than anything you’ll find in a Starbucks store.”

Other differences between the two shops include the fact that you can order a shaken iced tea at your favorite Starbucks but don’t expect to find a grande caramel macchiato at Teavana, the tea bar doesn’t sell any coffee.

The Tea Bar couldn’t look or feel more different than it’s coffee pushing counterpart. Adorned with warm colors, mood lighting and a wall of loose leaf teas, Teavana aims to appeal to customer’s comfort, inviting them to sit and savor their order.

Teavanna Cafe Snacks
With a wide array of gourmet menu items Teavana’s prices are a bit steeper than what Starbucks customers are used to. Featuring dishes such as Lemongrass Ginger Chicken Rice Balls and Roasted Butternut Squash Strata prices can be upwards of $14.95 for their most expensive salad to $3.95 for standard baked goods such as scones. Tea lattes start at about $5.95 which is about $1 more than your favorite venti Starbucks drink.

Starbucks hopes to break into the tea industry with its new Teavana Bars with plans to open at least 1,000 more tea bars in the next 5-10 years. These specialty tea bars shouldn’t compete with existing Starbucks stores as most tea drinkers strictly stick to their loose leaf beverage of choice.

Seattle is said to be the future home of Teavana Fine Teas + Tea Bar’s second nationwide location.

H/T + PicThx USA Today

Categories
Hit-Or-Miss

Today in Grow or Die, Starbucks Buys Teavana for $620 million

I don’t drink coffee, preferring to get my caffeine jolts from refreshing iced tea because I generally find it very drinkable without adding the calories of cream and sugar. I’ve had Starbucks passion iced tea, that fruity lime iced drink that they claimed was coffee, and the Tazo tea bags from the company they bought for $8.1 million in 1999 – they’re good, I guess, but not great.

Perhaps that’s why Starbucks has plunked down $620 million for Teavana, a retail tea store chain. Company head Howard Schultz claims that Teavana offerings from Starbucks will form a second, higher-end brand alongside their existing Tazo products. The company is probably emboldened by the early success of their Verismo system and is feeling frisky about throwing money at new ventures. I won’t venture inside Starbucks’ tea experience shops if they ever make it to the mass market, but if they try to sell me some new top shelf Teavana drink the next time I visit, I’ll give it a try.

via Nation’s Restaurant News