BUSINESS

Starbucks Set To Go Big On Tea

The drinking of tea is gaining popularity in the U.S. and Starbucks is one company that is not losing sight of this.

According to the Tea Association of the U.S., 85 percent of the tea consumed in America is iced tea.

Starbucks Set To GoIn a message to Starbucks partners, chief operations officer Kevin Johnson said, “Tea is a $125 billion market and the second most consumed beverage in the world, next to water. Tea represents a very compelling strategic opportunity for Starbucks around the world and we are well under way of executing on our plan to increase our tea business to $3 billion over the next five years.”

The company has formed a strategic alliance with Teavana to market the beverage within its stores locally and internationally.

“Tea is on the rise across America, with iced tea now the most consumed beverage at lunch time. In our Starbucks stores where Teavana tea is served; our tea sales rose 15 percent year-over-year mostly due to the popularity of our Teavana shaken iced tea,” said Annie Young-Scrivner, president, Teavana.

“We have hundreds of iced tea options, and we welcome customers to join us at Starbucks or Teavana to experience some of the highest-quality and most delicious teas,” Young-Scrivner further stated.

Teavana boasts some of the most unique and flavorful premium loose leaf teas using some of the finest full tea leaves along with ingredients like fruits, flowers, and spices.

According to the company, Teavana loose leaf teas are made from some of the finest whole tea leaves and the epicurean blends combine the best of science and artistry to bring out bold and exotic flavors.

Starbucks plans to expand Teavana offerings within its stores and create global awareness of the Teavana brand and elevate the innovation and merchandising of Teavana in Starbucks retail stores.

Yvad Billings, Readers Bureau, Fellow

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