Starbucks to shutter all Teavana stores as sales disappoint
- Last Updated:
- Jul 31st, 2017 5:42 pm
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- SCORE
- winner2000 [OP]
- Deal Addict
- Feb 7, 2006
- 2470 posts
- 1415 upvotes
17 replies
- ChicoQuente
- Deal Fanatic
- Jun 21, 2003
- 6324 posts
- 3871 upvotes
- Stoney Creek, ON
I'm definitely disappointed to read this news. I hope that the website remains in tact as there are a few teas from Teavana that my wife and I really enjoy and always keep in stock at home.
- cgtlky
- Deal Fanatic
- Jan 31, 2006
- 8541 posts
- 2655 upvotes
- Toronto
Its too expensive thats why
- playnicee1
- Deal Expert
- Feb 9, 2012
- 21709 posts
- 9001 upvotes
- Toronto
David's tea must be very happy to hear this news...ah, but how are they doing?
Could they be next? Looks like they're also having some trouble...hopefully just in the States... http://www.ctvnews.ca/business/davidste ... -1.3449917
"Since reaching a stock price of US$27 following its public offering two years ago, DavidsTea's shares have plunged to $5.97 in Thursday trading." OUCH!!!!
Could they be next? Looks like they're also having some trouble...hopefully just in the States... http://www.ctvnews.ca/business/davidste ... -1.3449917
"Since reaching a stock price of US$27 following its public offering two years ago, DavidsTea's shares have plunged to $5.97 in Thursday trading." OUCH!!!!
If it ain't broke, don't fix it!
- EastGTARedFlagger
- Deal Addict
- Feb 22, 2016
- 4745 posts
- 4409 upvotes
You can get almost all of Teavana's products at Starbucks:ChicoQuente wrote: ↑ I'm definitely disappointed to read this news. I hope that the website remains in tact as there are a few teas from Teavana that my wife and I really enjoy and always keep in stock at home.
http://store.starbucks.ca/tea/tea,en_CA ... Tea%20Bags
Starbucks did the same thing with La Boulange -- bought that company, incorporated its products into its regular stores (the newer baked goods)... then shut down that chain a few years later.
- yesstyle
- Deal Fanatic
- May 18, 2009
- 7863 posts
- 2841 upvotes
- Richmond Hill
Will miss their samples.
- User381785
- Deal Addict
- Apr 28, 2017
- 2204 posts
- 3203 upvotes
There are Teavana stores?
- kreisleriana
- Deal Addict
- Jun 20, 2009
- 1428 posts
- 787 upvotes
- Edmonton
I better redeem my SB Rewards soon. The only reason why I try to frequent SB often is that I can get loose-leaf tea as a reward at Teavana. This might reduce my SB frequency. The store here is always packed. Probably others aren't doing so well.
- FatherOfJohanna
- Member
- Oct 5, 2008
- 270 posts
- 108 upvotes
- North York
The biggest thing about tea is, that a little bit goes a LONG way. I have bought tons of tea from all different places over the years, and I still have way too much to drink than I could drink.
- darksith31
- Deal Addict
- Nov 23, 2007
- 2625 posts
- 503 upvotes
- Thornhill
I have worked at Teavana, as a part-time sales associate, for the past four years. I'm honestly not surprised in the least. When Starbucks acquired Teavana, there was hope that things would change for the better, but it seems that was wishful thinking. Oh, and FYI guys, expect a 75% off everything sale very, very shortly. Hehe.
- ThermKitty
- Member
- Aug 4, 2012
- 328 posts
- 262 upvotes
- Cambridge
The Teavana locations in my area really went downhill after the Starbucks acquisition. I've got a bit of social anxiety, and every time I went to Teavana after that point the staff would try their hardest to push me into a sale. Never had that issue with Teaopia or the old Teavana. That's genuinely the reason why I avoid the place like a plague now, tea buying and drinking should be a calm experience and I'm more than willing to blow $100 on my own terms at a local loose-leaf store or David's Tea.
- Ottomaddox
- Deal Fanatic
- Oct 22, 2007
- 9280 posts
- 3006 upvotes
- London
it's like Starbucks but for tea! How could it go wrong.CEO Howard Schultz noting the huge potential for the tea market
Note to self: divest myself of all HotChocolarama stock.
- ES_Revenge
- Deal Expert
- Mar 23, 2004
- 35606 posts
- 18999 upvotes
Another one bites the dust in Canadian retail.
- warpdrive
- Deal Expert
- Mar 6, 2003
- 19713 posts
- 13577 upvotes
- Ottawa
Could this be a case of "Teavana stores don't have a 500000% profit margin like regular Starbucks stores so we're closing them"?
Please update your profile to include your city https://forums.redflagdeals.com/ucp.php?i=ucp_profile&mode=profile_info
- ES_Revenge
- Deal Expert
- Mar 23, 2004
- 35606 posts
- 18999 upvotes
Have you ever shopped at Teavana to see the ludicrous prices they have? It's not cheap because it's tea, if that's what you're thinking.
IMO, more the problem with these "boutique" teas is that it's a real niche market. Most people that come from cultures/countries/backgrounds where tea is popular and commonly drunk, do indeed drink a crap ton of tea. Growing up all I ever drank was tea because that's what my parents drank at a rate of several cups a day, everyday. Coffee was a thing we only had/made at like get togethers/parties or whatever. And then, as a kid, the only way I knew how to drink coffee was to cram it full of sugar LOL. I only really started drinking coffee as an adult and yeahhh sugar totally ruins it so I never add it to coffee, that's for sure. Even today I basically only drink coffee outside the house but at home 90% of the time it's tea. But anyway, my point is, though some people do drink tons of tea, the kind of tea is basically just orange pekoe or some other black tea where you buy like 144 bags in a box from the grocery store. None of these tea drinkers go to places like Teavana to stock up on these weird and eccentric teas they have there, lol.
So basically you're just left with hipsters and people that think tea is healthy and "better for you" than coffee but never really had a high level of tea consumption from childhood. It's not a huge market and nowhere near the market for coffee. It's just a niche-market boutique and when regular retail stores can't stay afloat in Canada as it is, boutiques aren't going to be around long either, esp. when they're all in places like malls which have high overhead and operating costs.
- hdom
- Deal Fanatic
- Aug 29, 2006
- 7750 posts
- 1635 upvotes
Think part of their problem is they used to be the only game (Teaopia days) in most malls I have been too. Now, David's tea is sort of seen as the Starbucks of tea, so they are no longer leading the market.
The Devil made me buy it - RFD.
- earthpetal
- Deal Addict
- Sep 14, 2015
- 1838 posts
- 1581 upvotes
- Mont-Royal, QC
Starbucks stores sell Teavana tea as well, overpriced teas...
Prefer David's Tea than Teavana btw
Prefer David's Tea than Teavana btw
- JonathanB920
- Newbie
- Aug 4, 2017
- 1 posts
- 1 upvote
I used to work for Starbucks and loved the Teavana brand! I am disappointed that hey are closing, yes!
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