Starbucks Coffee in disguise squeezes China's Wealth for 90 billion to open a Chinese tea shop in New York

Starbucks Coffee is still methodically implementing its expansion plans after being accused by Chinese media such as CCTV of squeezing huge profits in the Chinese market. But this expansion is aimed at the United States, trying to open a number of Chinese tea shops to seize the $90 billion market gap, and Chinese tea culture has become a new money-making tool for Starbucks. Starbucks

Starbucks CEO Schultz said, "the tea era is coming, and we plan to open thousands of tea shops in five years." The first store will open in New York, while the second store will open in Seattle in mid-November. According to market research data from Euromonitor, the global tea market has a business opportunity of US $90 billion a year, while the current sales of tea products in Starbucks coffee shops account for only 1%, and there is still a lot of room for development for Starbucks. So, despite previous failures in the tea market, Starbucks bought the tea brand Teavana for 620 million and opened its first tea shop in New York, announcing a formal entry into the tea market and plans to open 1000 stores in the United States in five to 10 years. Starbucks

Tea is the second most popular drink in the world, second only to water, but most Americans still like to drink iced tea, one of the barista's morning ceremonies, iced tea with lunch and scented tea for dinner. Since 324 cases of tea were thrown into Boston Bay in 1773, common teas around the world have not been very popular in the United States. However, Americans' love of tea is on the rise. Last year, Starbucks bought Teavana for $620 million and plans to enter the "global hot and cold tea market" with a market capitalization of $90 billion. Starbucks opened its first Teavana-branded hot tea store on the Upper East side of New York on October 24. Cliff Burrows, a Starbucks executive, said the acquisition of Teavana would help Starbucks expand into the growing flavor hot tea market.

Starbucks

The billionaire behind Starbucks is controlling his caffeine intake. The coffee giant's CEO Schultz will stop drinking coffee after 5pm. Recently, he has become more like a tea addict, and Xi Huan is interested in the "Prince Oolong Tea" sold by Teavana. Schultz sipped a cup at the first Teavana tea bar and sold for 4.95.

Tea in dollars. The Teavana Tea Bar opened in New York City on the morning of October 24th. Next, another Teavana tea bar in Seattle will open on the eve of Thanksgiving.

Starbucks has occupied the Chinese market with high-priced coffee, and now it is once again using Chinese tea and tea culture as a money-making tool to occupy the American market. How do the Chinese feel?