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The death of the American shopping mall just took another victim. Starbucks announced that it will close all 379 Teavana locations over the next year.
Teavana Corporation was an American tea company, which previously had locations throughout the United States, Canada, Mexico, and the Middle East. [1] Starbucks acquired Teavana in 2012, and in 2017, Starbucks announced it would close all Teavana locations by 2018. As of 2022, a very limited variety of Teavana products continue to be sold at ...
Starbucks acquired Teavana for an aggregate acquisition price of approximately $620 million in cash and is expecting the acquisition to be accretive to earnings by approximately $0.01 per share in ...
Teavana. Starbucks said in 2017 that it planned to close all 379 of its underperforming Teavana stores, but mall operator Simon Property Group sued to keep 77 mall-based stores open. ...
Teavana announced plans in 2017 to close all 379 of its stores by 2018, with parent company Starbucks citing lower mall traffic, and on August 29, 2017, Simon Property Group sued Starbucks over the Teavana closures. [294] [295]
In January 2015, Starbucks began to roll out Teavana teas into Starbucks stores, both in to-go beverage and retail formats. [290] Starbucks shut down Teavana in early 2018. [ 291 ] [ 292 ]
In 2012, the chain forked over $620 million in cash for the tea line -- but now the company says it may be time to say goodbye.
Under Johnson, Starbucks acquired 100% of its East China joint venture for $1.3 billion. He also closed Teavana stores and the e-commerce unit, and sold Tazo to Unilever for $384 million. [28] Analyst commentary on his first year was mixed.