The recently opened Starbucks Teavana store in Seattle is an example of future retail locations for the coffee brand's tea subsidiary. The Seattle shop, located within the city's Pacific Place, is the first retail location that combines the Starbucks aesthetic with Teavana's line of superior tea products and so is well-suited to the coffee brand's home city.
The introduction of this Starbucks Teavana store experience follows the release of two Teavana teas at Starbucks locations in 2014. The Teavana Shaken Iced Tea and Teavana Oprah Chai Tea are the tip of the iceberg when it comes to the brand's towering wall of tea.
Founded in 2007, Teavana was bought by Starbucks in 2012 as apart of the brand's efforts to expand into the growing tea market.
Cobranded Tea Shops
The New Starbucks Teavana Store Will Serve as Inspiration for the Brand
Trend Themes
1. Co-branded Retail - The Starbucks Teavana store concept inspires other retail brands to collaborate and create unique co-branded experiences.
2. Premium Tea Market - The success of Teavana's line of superior tea products paves the way for other premium tea brands to enter the market.
3. Brand Expansion - Starbucks' acquisition of Teavana demonstrates the potential for established brands to expand into new markets and product categories.
Industry Implications
1. Food and Beverage - The co-branded tea shop trend presents opportunities for food and beverage brands to collaborate and offer unique experiences to customers.
2. Retail - The success of the Starbucks Teavana store highlights the potential for co-branded retail spaces to attract customers and increase sales.
3. Tea - The premium tea market is experiencing growth due to the popularity of brands like Teavana, creating opportunities for new players to enter and compete in the industry.