Shopping Discussion

Starbucks to shutter all Teavana stores as sales disappoint

  • Last Updated:
  • Jul 31st, 2017 5:42 pm
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Deal Fanatic
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Jun 21, 2003
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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.
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Jan 31, 2006
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Toronto
Its too expensive thats why
Deal Expert
Feb 9, 2012
21709 posts
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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!!!!
If it ain't broke, don't fix it!
Deal Addict
Feb 22, 2016
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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.
You can get almost all of Teavana's products at Starbucks:
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.
Deal Fanatic
May 18, 2009
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Richmond Hill
Will miss their samples.
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Jun 20, 2009
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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.
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.
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Nov 23, 2007
2625 posts
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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.
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.
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Oct 22, 2007
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London
CEO Howard Schultz noting the huge potential for the tea market
it's like Starbucks but for tea! How could it go wrong.

Note to self: divest myself of all HotChocolarama stock.
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Mar 6, 2003
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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
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Mar 23, 2004
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warpdrive wrote: Could this be a case of "Teavana stores don't have a 500000% profit margin like regular Starbucks stores so we're closing them"?
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.
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Aug 29, 2006
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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. :twisted:
Deal Addict
Sep 14, 2015
1838 posts
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Mont-Royal, QC
Starbucks stores sell Teavana tea as well, overpriced teas...
Prefer David's Tea than Teavana btw
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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