Teavana opens new store in Chicago, announces at least two more
The third Teavana Fine Teas + Tea Bar opens for business this week in Chicago, IL. Teavana, owned and operated by Starbucks, is admittedly taking its time perfecting the concept of a high-end tea store and bar before a nationwide rollout. The store opening in Chicago pits Teavana against local tea retail chain Argo Tea, which has 16 locations in the area, as well as Adagio Teas and DavidsTea, which have 3 outlets each in and around Chicago. Industry experts say the US tea market is ripe for a revolution, with most tea shops operated as small businesses and only several independent chains throughout the country. Hundreds of Teavana locations are expected to pop up in the years ahead, with at least two more announced for this year: a second one in New York City and one in Los Angeles.