Teavana
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| Type | Public |
|---|---|
| Traded as | NYSE: TEA |
| Industry | Restaurants Retail Tea |
| Founded | In 1997 at Phipps Plaza in Atlanta, Georgia. |
| Headquarters | Atlanta, Georgia, USA |
| Products | Loose-Leaf Tea Made-to-order tea beverages Tea-Related Products |
| Website | Teavana.com |
Teavana is a specialty tea and tea accessory retailer based in Atlanta, Georgia. Teavana currently operates 220 company-owned stores in 36 U.S. states and Mexico.[1]
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[edit] History
Teavana started in Atlanta, Georgia in 1997, with the opening of the first teahouse at Lenox Square Mall. The husband and wife team that created Teavana invested their life savings into the teahouse concept after traveling abroad, noticing the gravitation of Americans towards fine wines and coffees in the United States.[2]
In July 2011, Teavana filed terms with the SEC to raise $100 million in an initial public offering.[3]
[edit] Products
[edit] Tea types
Teavana currently offers teas and herbal infusions, with categories such as: white, green, flavored & scented green, "blooming" white, black, flavored & scented black, oolong, and pu-erh teas along with rooibos, "herbal", and Maté Yerba infusions. Teavana retail stores generally offer various blends of each type of tea, and consistently promote cross blending different types of tea.[citation needed]
[edit] Tea products
Teavana also specializes in the merchandising of tea products, including cast iron tetsubin teapots, decorative teapots, Asian-inspired teapots and cups, tea ware, tea kettles, various Japanese hot water dispensers and electric tea makers, tea measures, tea infusion and steeping ware, honey, world music, and tea and Asian books. Teavana also markets rock sugar.
[edit] Stores
Teavana retail stores are designed to be "part tea bar, part tea emporium."[4] Asian and other cultural music is often played in the background. Retail locations offer samples of various tea blends and tea varieties at their front door and within the store.
[edit] Locations
By the end of 2011 Teavana will have over 200 stores in the United States along with numerous international locations in Mexico.[5]
[edit] Teavana CAREs
Teavana has a longstanding relationship with CARE International.[6] Through CARE, they donate 1% of profits from teas to the tea growing regions of the world. In July 2010, they extended this relationship in order to raise awareness to the plight of women in impoverished areas.[7] A microsite was also launched at TeavanaCares.com to increase personal donations to CARE International.[8] In addition, Teavana reacts to world events through CARE International as needed.[9]
[edit] Sales practices
A Pennsylvania Teavana location was criticized by an online article in The Consumerist, for aggressive and dishonest upselling practices which involved scooping out much more tea than was requested, including tea in an expensive tin without the customer asking for the tin and without announcing the price of the tin. Writes author of blog: Customer states "I am not sure how widespread [Teavana] is, but it was my first experience with them (and my last). I do feel that my story should be taken with a grain of salt, as I have no idea whether this is a common business practice throughout the chain." [10]
[edit] Teavana App
Teavana released their first iPhone/iPod touch Application through the iTunes Store in late December 2009 for free called "Teavana Perfect Tea Touch". The App includes a browse section entitled "Tea Touch", a musical timer for steeping tea, a tea blending suggestor that advises mixing certain teas together, a store locator, and a favorites section.
[edit] References
- ^ Teavana: The Little Tea Company That Could Deserve Its Above-Range Pricing. Seekingalpha. July 27, 2011
- ^ last accessed January 23, 2008. Atlanta.bizjournals.com. Retrieved on 2011-10-13.
- ^ "Teavana sets IPO terms, kicks off road show". Renaissance Capital. 18 July 2011. http://www.renaissancecapital.com/ipohome/news/Teavana-sets-IPO-terms-kicks-off-road-show-9985.html.
- ^ last accessed January 23, 2008. Teavana.com. Retrieved on 2011-10-13.
- ^ Find a Teavana tea store near you. Teavana. Retrieved on 2011-10-13.
- ^ Shop for tea at Teavana.com. Teavana. Retrieved on 2011-10-13.
- ^ Tea-growing Communities empowered by. Teavana (2010-07-29). Retrieved on 2011-10-13.
- ^ Helping Global Tea Growing Communities Thrive. Teavana CAREs. Retrieved on 2011-10-13.
- ^ Partners with CARE on the Haiti Emergency Response Fund. Teavana. Retrieved on 2011-10-13.
- ^ Laura Northrup, "Teavana Salesperson Throws Involuntary Tea Party", The Consumerist, Jul. 7 2009.
