Starbucks is Launching its Teavana Across Asia – Does its 21-Month Chart Reveal a Buying Opportunity?
Starbucks is preparing to launch 6,200 locations of its tea brand, Teavana across 16 markets in China and the Asia-Pacific region.
Tea is a $125 billion global business and is the second-most consumed beverage in the world behind water, according to a company statement. In 2015, Starbucks’ U.S. tea business advanced by 12%, vs. a general U.S. sales growth of 7%. Over the next five years, the company hopes to grow its global tea business to $3 billion in annual revenue. (Bloomberg)