Starbucks plans to open its first tea store in Seattle

Starbucks (04337) plans to open its first Tazo tea store in Seattle in October, setting a new milestone for Starbucks to break new ground in its core coffee business.
The world's largest coffee chain unveiled another ambitious plan to expand its retail catering business after opening its first fruit juice store on the outskirts of Seattle in March and announcing a $100m cash acquisition of a bread group two weeks ago. It is hoped that its tea tasting business will be as prosperous as coffee chains.
The Taishu store, located near the university village of Seattle, where the company is headquartered, will sell more than 80 tea drinks as well as condiments such as pastries, chocolate, sugar and honey, a Starbucks spokesman said.
Starbucks, which has more than 17000 stores around the world, bought Taishu for US $8.1 million in cash in 1999 and now has a brand value of US $1.4 billion. Taishu sells products through its stores and other retailers. Starbucks plans to use its new Taishu tea store to kick off the company's foray into the global tea market worth US $95 billion. "Hong Kong Economic Daily"
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