Starbucks opens the first Teavana Fine Teas + Tea Bar in New York City’s Upper East Side. What Starbucks is for coffee, this Teavana bar plans to be for tea. The tea bar features the renowned Teavana “Wall of Tea” as well as special pastries, salads and flatbreads sandwiches meant to specifically compliment the flavors of tea offered. Schultz, Starbucks chairman, president and chief executive officer:
Tea has been a part of Starbucks heritage since 1971, when we were founded as Starbucks Coffee, Tea and Spices, and this new store concept elevates the tea experience in the same way we’ve done for coffee. As the second most-consumed global beverage behind water, tea presents a $90 billion global market opportunity, and we are excited to celebrate the first retail example of how our two companies are coming together.