Starbucks wants to do the same thing for tea that it did for coffee. That's the intention behind the grand opening of Teavana Fine Teas + Tea Bar today on New York's Upper East Side.
The idea is similar to Starbucks in that the company is looking to elevate the experience of tea drinking and get consumers to pay for it in the process. The new tea bars, according to Starbucks, will deliver "a carefully curated assortment of handcrafted tea beverages, premium loose leaf teas, tea-inspired food offerings and beautifully made tea merchandise."
Tea, according to Starbucks, is the second most consumed beverage across the globe. Water is the first.
Mr. Schultz is looking to open at least 1,000 tea bars in North America over the next five to 10 years. Starbucks will also look to open shops in other spots of the globe during the same period. The second Teavana Tea Bar is scheduled to open in Seattle next month.
According to USA Today, the new concept's fare is "a bit pricier than Starbucks" with a 16-ounce tea latte selling for $5.95, scones for $3.75 and the priciest salad, $14.95.
How likely is Starbucks to do for tea what it's done for coffee?