Starbucks established a bold presence in Shanghai last December with the opening of their two-storied Reserve Roastery, which delivers a multi-sensory, interactive coffee and tea experience like no other. With 3000 stores located in 136 cities across China - including 600 in Shanghai alone - the Seattle-based company is taking advantage of the booming Chinese economy, which…
Starbucks Takes the Steam Out of Teavana
In a surprise move, Starbucks announced on Thursday that all 379 Teavana stores, mainly based in malls across the country, have been under-performing and the Teavana brand will be shut down.The closings will impact 3,300 workers. Starbucks CEO Kevin Johnson noted declining foot traffic at malls.“We felt it was an appropriate time to take the decision…