Wider availability in Starbucks stores for Teavana
Starbucks announced strategic changes for its Teavana brand, which include shifting focus to expand the brand in Starbucks stores, as opposed to growing the number of tea outlets in malls. When Starbucks purchased Teavana back in 2012, the coffee giant had plans for 500 stores by 2015, although only 360 currently exist. This discrepancy is due to Starbucks opting to heavily promote Teavana's products in its own stores by phasing out its Tazo brand and the company confirmed plans to build on the success. Starbucks also chose to pursue this route in select international markets to grab a larger a slice of the $125 billion global tea industry. Finally, Starbucks announced a reshuffling of the line of reporting for managers of its Teavana division, with the companys global chief marketing officer overseeing operations from now on.