View source for Teavana

{{Short description|Tea company owned by Starbucks}}
{{Use mdy dates|date=November 2022}}
{{Refimprove|date=February 2017}}<!--Do not change to was, they are still a tea company, just without locations-->{{Infobox company
| name = Teavana Corporation
| logo = Teavana logo.svg
| type = [[Subsidiary]]
| hq_location = 2401 Utah Avenue South
| hq_location_city = Seattle, Washington
| hq_location_country = U.S.
| industry = [[Beverage]]
| products = [[Tea|Loose-Leaf Tea]]<br>Made-to-order tea beverages <br>[[Merchandise|Tea-Related Products]]
| parent = [[Starbucks]] (2012–present)
| founded = {{start date and age|1997}}<br>[[Phipps Plaza]]<br>[[Atlanta]], [[Georgia (U.S. state)|Georgia]], U.S.
| website =
}}
'''Teavana Corporation''' was an American [[tea]] company, which previously had locations throughout the United States(650 stores), Canada, Mexico, and the Middle East.<ref>{{Cite web|url=http:// teavana /retail|title=Map of retail locations.|website=Teavana|archive-url=https://web.archive.org/web/20110503230235/http:// teavana /retail|archive-date=2011-05-03|url-status=dead|access-date=2011-05-03|df=mdy-all}}</ref> [[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.<ref name= ":1" >{{Cite news|url=http://seattletimes /html/businesstechnology/2020031178_starbucksteavanaxml.html|title=Starbucks closes Teavana deal|last=Allison|first=Melissa|date=2012-12-31|work=The Seattle Times|access-date=2013-03-01|df=mdy-all}}</ref>

== History ==
[[File:Teavana NYSE 2011 Shankbone.jpg|thumb|upright|The [[New York Stock Exchange]] on July 28, 2011, when Teavana had its [[initial public offering]], which raised roughly $121 million|alt=]]
Teavana was started in [[Atlanta]], Georgia, in 1997, with the opening of a teahouse at [[Phipps Plaza]].<ref>{{Cite web |last=SanSone |first=Arricca Elin |last2=Frere |first2=Jackie |last3=Chilton |first3=Charlotte |date=2019-10-04 |title=The Iconic Stores You Grew up With That Are No Longer Around |url=https:// goodhousekeeping /life/g25135266/iconic-stores-no-longer-around/ |access-date=2020-04-06 |website=Good Housekeeping |language=en-US}}</ref> Teavana was founded by Andrew T. Mack, and his wife, who invested their life savings into the business.<ref>{{Cite web|url=https:// forbes /sites/ronaldholden/2017/07/27/starbucks-shutters-all-of-its-300-teavana-stores/|title=Starbucks Shutters All 379 Teavana Stores|last=Holden|first=Ronald|website=Forbes|language=en|access-date=2020-04-06}}</ref> Their idea was inspired by a road trip, noticing the gravitation of Americans towards fine wines and coffees in the United States.<ref>{{Cite news|url=https:// bizjournals /atlanta/stories/2005/02/07/story5.html|title=Leaves of Green|last=Rubner|first=Justin|date=2005-02-07|work=Atlanta Business Chronicle|access-date=2019-01-03|df=mdy-all}}</ref>

In late 2012, [[Starbucks]] stated that it would pay $620 million in cash to buy the company.<ref>{{cite news |last=Choi |first=Candice |date=2012-11-15 |title=Starbucks Buys Teavana |work=Huffington Post |url=http:// huffingtonpost /2012/11/15/starbucks-buys-teavana-holdings_n_2136048.html |archive-url=https://web.archive.org/web/20121118032244/http:// huffingtonpost /2012/11/15/starbucks-buys-teavana-holdings_n_2136048.html |archive-date=November 18, 2012}}</ref> Three [[class action|class-action lawsuits]] were commenced by shareholders of Teavana concerning the Starbucks buyout; these were settled on December 14, 2012 (subject to court approval).<ref>{{cite news|url=https://blogs.wsj /deals/2012/12/14/teavana-reaches-settlement-with-shareholders-over-starbucks-deal/|title=Teavana Reaches Settlement With Shareholders Over Starbucks Deal|last=Gasparro|first=Annie|date=2012-12-14|work=Deal Journal|access-date=2013-03-01|publisher=Wall Street Journal}}</ref> The acquisition of Teavana by Starbucks was formally closed on December 31, 2012.<ref name= ":1" /><ref>{{cite press release |title=Starbucks Closes Teavana Acquisition |url=http://news.starbucks /article_display.cfm?article_id=735 |publisher=Starbucks Newsroom |date=2012-12-31 |access-date=2013-03-01 |archive-url=https://web.archive.org/web/20130305003048/http://news.starbucks /article_display.cfm?article_id=735 |archive-date=2013-03-05 |url-status=dead }}</ref> On July 27, 2017, Starbucks announced it would close all 379 Teavana stores by 2018, partly due to underperformance.<ref>{{Cite news|url=http:// latimes /business/la-fi-teavana-closing-20170727-story.html|title=Starbucks is shutting all Teavana stores|date=2017-07-27|work=[[Los Angeles Times]]|access-date=2019-01-03|agency=[[Associated Press]]}}</ref><ref>{{Cite news |last=Hirsch |first=Lauren |date=2017-11-02 |title=Starbucks tanks on revenue miss, to sell Tazo tea brand to Unilever |work=CNBC |url=https:// cnbc /2017/11/02/starbucks-earnings-q4-2017.html |access-date=2017-11-03 |df=mdy-all}}</ref>

[[Simon Property Group]], one of the largest U.S. mall operators, demanded Starbucks keep running the Teavana shops located in its malls, arguing in part that their closing would reduce traffic to surrounding stores and in December 2017 a judge ruled in Simon's favor.<ref>{{Cite web |last=Peterson |first=Hayley |date=2018-01-01 |title=A tsunami of store closings is about to hit the US — and it's expected to eclipse the retail carnage of 2017 |url=https:// businessinsider /store-closures-in-2018-will-eclipse-2017-2018-1 |access-date=2019-01-03 |website=Business Insider}}</ref> On September 15, 2017, [[Cadillac Fairview]] sued Starbucks over Teavana closures in Canada.<ref>{{Cite news |date=2017-09-18 |title=Cadillac Fairview Sues Starbucks Over Teavana Closures |language=en-CA |work=Retail Insider |url=https:// retail-insider /retail-insider/2017/9/cadillac-fairview-lawsuit-starbucks-teavana |access-date=2018-01-11 |df=mdy-all}}</ref>

However, on January 18, 2018, Simon and Starbucks reached an agreement that would close the remaining 77 Teavana stores in Simon malls, ending the tea shop's existence as independent storefronts after nearly 21 years in business.<ref>{{Cite news |date=2018-01-18 |title=Starbucks and Simon Reach Agreement in Teavana Store Closure Dispute |language=en-US |work=Commercial Observer |url=https://commercialobserver /2018/01/starbucks-and-simon-reach-agreement-in-teavana-store-closure-dispute/ |access-date=2018-01-21}}</ref>

== Products ==
Teavana offered hot tea [[Sachet|sachets]] and premade [[iced tea]] which are sold at Starbucks locations, as well as at supermarkets and external retailers where tea is sold.

Prior to the closure of all of their storefront locations, Teavana's retail stores were usually located in upscale shopping malls and designed to be "part tea bar, part tea emporium." <ref>{{Cite web |title=About Us |url=http:// teavana /about-us |archive-url=https://web.archive.org/web/20100302113915/http:// teavana /about-us |archive-date=2010-03-02 |access-date=2011-10-13 |website=Teavana}}</ref> Individual cups of tea to go were offered for sale, and the retail locations offered free [[Product sample|samples]] of various tea blends and tea varieties at their front door and within the store. Accessories for tea-drinking, such as cups and pots were also available in the stores.<ref>{{Cite web |last=Taylor |first=Kate |title=Starbucks is the latest victim of the retail apocalypse |url=https:// businessinsider /teavanas-stores-closing-2018-1 |access-date=2020-04-06 |website=Business Insider}}</ref>

Teavana previously offered loose-leaf teas and herbal infusions, with tea categories such as: [[white tea|white]], [[black tea|black]], [[green tea|green]], flavored & scented green, "blooming" white, flavored & scented black, [[oolong tea|oolong]], and [[pu-erh tea|pu-erh]] teas, along with [[rooibos tea|rooibos]], [[herbal tea|herbal]], organic matcha green tea, [[Flowering tea|blooming tea]], and [[Maté tea|Yerba Maté]] infusions. Teavana retail stores had previously offered various blends of each type of tea, and frequently promoted cross-blending different types of tea.<ref>{{cite web|title=Teavanna Tea Blends|url=http:// teavana /the-teas/best-tea-blends|access-date=23 October 2013|archive-url=https://web.archive.org/web/20131113053404/http:// teavana /the-teas/best-tea-blends|archive-date=2013-11-13|url-status=dead}}</ref> Teas were offered in several formats, such as loose-leaf tea, pre-filled tea tins, and tea sachets, or brewed as a to-go beverage.

In addition to loose tea, Teavana sold teaware products, including cast iron [[Tetsubin]] [[Teapot|teapots]], [[Bone China]] teapots, Japanese porcelain teapots and cups, stove-top [[Kettle|kettles]], electric kettles, milk frothers and automatic tea makers (produced by Australian company [[Breville]]), Japanese hot water dispensers and electric tea makers (produced by [[Zojirushi]]), tea measures, tea infusion and steeping wares such as the Teavana 'Perfectea Maker', contour tumblers, and tea infuser mugs. Teavana also sold all-natural [[Rock candy|rock sugar]] (non-GMO beet sugar) sourced from Belgium.<ref>{{Cite web|url=http:// teavana /us/en/tea/tea-rock-sugar/teavana-belgian-rock-sugar-1-lb-011036329.html|title=Teavana® Belgian Rock Sugar 1 Lb|website=Teavana Store|language=en-US|access-date=2018-01-11|archive-url=https://web.archive.org/web/20180112155950/http:// teavana /us/en/tea/tea-rock-sugar/teavana-belgian-rock-sugar-1-lb-011036329.html|archive-date=2018-01-12|url-status=dead}}</ref>[[Image:Teavana Nashville.jpg|thumb|200px|Teavana in Nashville, Tennessee, as shown in 2008|alt=]]

== Philanthropy ==
===Supporting education===
In April 2014, Starbucks and Teavana collaborated with [[Oprah Winfrey]] to develop a tea called Teavana Oprah Chai Tea, along with additional tea accessories. For every sale of Oprah Chai Tea products, Starbucks would make a donation to the Oprah Winfrey Leadership Foundation Academy, which supports youth education and funds the [[Oprah Winfrey Leadership Academy for Girls]] in South Africa.<ref>{{Cite web |date=April 29, 2014 |title=Teavana Oprah Chai Tea Debuts at Starbucks and Teavana Stores in the U.S. and Canada |url=https://stories.starbucks /stories/2014/teavana-oprah-chai-tea-debuts-at-starbucks-and-teavana-stores-in-the-u-s-a/ |url-status=live |archive-url=https://web.archive.org/web/20210419192040/https://stories.starbucks /stories/2014/teavana-oprah-chai-tea-debuts-at-starbucks-and-teavana-stores-in-the-u-s-a/ |archive-date=April 19, 2021 |access-date=2022-11-18 |website=Starbucks Stories |language=en-us}}</ref> Teavana and Starbucks have raised $5M in support of education for young people with the chai tea. In result of the partnership, Teavana then partnered with the New York-based organization Girls, Inc. to further support youth education and mentorship.<ref name= ":0" >{{Cite web |title=Giving Back |url=http:// teavana /us/en/giving-back |url-status=dead |archive-url=https://web.archive.org/web/20161106171725/http:// teavana /us/en/giving-back |archive-date=2016-11-06 |access-date=2016-11-03 |website=Teavana |df=mdy-all}}</ref>

Teavana and Starbucks also had a program to assist employees in enrolling with Arizona State online classes through their College Achievement Plan.<ref name= ":0" />

===Ethical tea partnership===
On April 1, 2015, Teavana joined the [[Ethical Tea Partnership]] (ETP), an initiative that ensures ethical production and distribution of tea products, by "factory health and safety, safe use of [[Agrochemical|agrochemicals]], human resource management, and environmental management." The ETP also monitors for issues that cannot be tracked with audits and certification, such as discrimination and living conditions of the workers.<ref>{{Cite web|url=http:// ethicalteapartnership.org/about-etp/what-we-do/|title=What We Do|website=Ethical Tea Partnership|access-date=2016-11-08}}</ref>

==See also==
* [[Tazo]], another tea brand, formerly owned by Starbucks

==References==
{{Reflist|2}}

{{Starbucks}}
{{Fast-food chains of the United States}}

[[Category:Companies formerly listed on the New York Stock Exchange]]
[[Category:Tea brands in the United States]]
[[Category:Tea companies of the United States]]
[[Category:Food and drink companies established in 1997]]
[[Category:American companies established in 1997]]
[[Category:Food and drink companies based in Washington (state)]]
[[Category:Food and drink companies based in Seattle]]
[[Category:1997 establishments in Georgia (U.S. state)]]
[[Category:2011 initial public offerings]]
[[Category:2012 mergers and acquisitions]]
[[Category:Starbucks]]
[[Category:Defunct restaurant chains in the United States]]