TeaGschwendner pulls out of US tea retail market
TeaGschwendner, the largest gourmet tea retailer in the world, has decided to ditch its brick and mortar business in the US. The Germany-based company, with 145 outlets in nine countries on four continents, has 4 stores in the US - two in New York City and two in Illinois. The company was hoping to expand its reach by means of franchise stores. However, there appears to be insufficient interest in this business model from American entrepreneurs. Approximately 60 stores were planned to open until 2012. The US arm of TeaGschwendner will now concentrate solely on its online business.
Retraction and Apology: TeaGschwendner not leaving US tea retail market
Adagio Teas apologizes to TeaGschwendner and the tea community at large for recently publishing a story inaccurately indicating that TeaGschwendner is pulling out of the US tea retail market. In fact, it has come to our attention that TeaGschwendner is not pulling out of the US tea retail market and it continues to grow its brick and mortar business in the US.