Thoughts on Starbucks' Decision to Close Down Teavana's Retail Stores?
Hey Monkeys, I just read this article on Starbuck's decision to close all of the Teavana retail locations. Below are the key takeaways from the article.
Starbucks Corp.’s decision to close all 379 Teavana stores marks the latest mall retail outpost to meet its end.
Moreover, more than 3,000 people's jobs will be affected.
American malls have struggled mightily from falling traffic as more people shop online, diverting dollars for all sorts of mall offerings, including food and drink, away from these commercial hubs.
Starbucks executives are moving Teavana in that direction as well. Johnson says it expects to sell more than $1.6 billion in Teavana beverages through Starbucks stores globally this year. And its tea business has grown 40% in the five years since it launched Teavana in the U.S.
I believe that this is a smart move from Starbucks to transform Teavana from a retail store into more of a brand for a lack of a better term.
What are your thoughts on Starbuck's closing all Teavana locations?
Do you think that Johnson's estimates for Teavana's global sales is too optimistic?
Do you shop at Teavana?
i've actually never even heard of Teavana before reading this
As another commenter said, if your are in a 5 mile radius as a Teavana store, they will find you and make you drink their sample tea.
Never been in, seen one on the UES.
The Teavana drinks they have brought in to the Starbucks stores look good though.
Do you think that Starbucks will expand into some of the existing Teavana locations?
My thought is maybe just maybe there isn't a market in the US of tea aficionados looking to buy overpriced tea and $600 tea kettle and cup sets.
Yeah, I agree with you. The Starbucks subbrand is better
I don't care about the financial aspect of this, but man, am I happy that I will no longer be chased down and pestered to try their tea when I am in the mall.
That's too true! Plus their tea tastes like shit
Their tea is good. However, clearly there is not enough of a draw. Perfectly fine with me. I bought my wife one of their brewing pitchers and she uses it. The issue for teavana is all that she needed was just tea leaves, which do not require a special store.
Really? In China, the teas I tried tasted amazing and it had a clean flavor. I didn't like the extra pizzazz that Teavana teas have.
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