Teavana
Teavana Corporation is an American tea company, which previously had locations throughout the United States, Canada, Mexico, and the Middle East. On December 31, 2012, Starbucks acquired Teavana in a deal with an estimated value of $620 million. On July 27, 2017, Starbucks announced it would close all 379 Teavana stores by 2018. However, a very limited variety of Teavana products continue to be sold at Starbucks. History. Teavana was started in Atlanta, Georgia in 1997, with the opening of a teahouse at Phipps Plaza. Teavana was founded by Andrew T. Mack, and his wife, who invested their  life savings into the business. Their idea was inspired by a road trip, noticing the gravitation of Americans towards fine wines and coffees in the United States. In late 2012, Starbucks stated that it would pay $620 million in cash to buy the company. Three class-action lawsuits were commenced by shareholders of Teavana concerning the Starbucks buyout; these were settled on December 14, 2012 (subject to court approval). The acquisition of Teavana by Starbucks was formally closed on December 31, 2012. On July 27, 2017, Starbucks announced it would close all 379 Teavana stores by 2018, partly due  to underperformance. However, in 2017, Simon Malls sued Starbucks over Teavana closures. Products. Teavana currently offers two types of tea after being downsized: hot tea sachets and premade iced tea. Their drinks can be found at most Starbucks locations, as well as at supermarkets and external retailers where tea is sold. Teavana previously offered loose-leaf teas and herbal infusions, with tea categories such as: white, black, green, flavored & scented green, "blooming" white, flavored & scented black, oolong, and pu-erh teas, along with rooibos, herbal, organic matcha green tea, blooming tea, and 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. 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 teapots, Bone China teapots, Japanese porcelain teapots and cups, stove-top 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 sugar (non-GMO beet sugar) sourced from Belgium. Stores. Teavana's retail stores were usually located in upscale shopping malls and designed to be "part tea bar, part tea emporium." Individual cups of tea to go were offered for sale, and the retail locations offered free 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. On July 27, 2017, parent company Starbucks  announced the full closure of all 379 Teavana retail locations, to be completed by the second quarter of 2018. 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. On September 15, 2017 Cadillac Fairview sued Starbucks over Teavana closures in Canada. 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. 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. 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. Teavana and Starbucks also have a program to assist employees in enrolling with Arizona State online classes through their College Achievement Plan. 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 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.