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Looks like Teavana was not Starbuck’s cup of teaStarbucks is one of the most popular coffee chains in the world, if not the most popular. In 2012, they bought out Teavana, a well-known tea company, and opened stores country wide. Recently they shockingly announced that they will be closing all 379 locations by spring of 2018. Most might assume that removing all Teavana stores may result in a loss in revenue, but what people do not realize is that keeping the stores alive is what actually causing a decline in sales. Although Starbucks is shutting down all of the Teavana stores that does not mean that they are fully doing away with this brand in general. They will still be selling the Teavana products in stores. Also, they recently started a brand new partnership with Anheuser-Busch InBev. What they will be doing is distributing ready-to-drink Teavana teas in four different flavors. So far it seems to be successful but only time will tell. Another surprise is that they plan to release packaged tea to be sold in grocery stores under the Teavana brand sometime next year. Different sources have different opinions on Starbucks success after closing the Teavana stores. Some say that Starbucks will actually lose money but others say that it will start to gain a higher revenue. Although it is disappointing that the Teavana stores are closing, it was a smart business decision chosen by Starbucks. -###- ................
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