Unilever and Specialty Tea

LOGO-T2 Tea Australia_StackSince Unilever announced its purchase of Australian premium tea company T2 in September of last year, many observers have speculated about how it would leverage this acquisition and which markets it would next target. This week brought some answers in the form of a new T2 tea bar in East London’s Shoreditch district.

This is the first tea shop in Europe for Unilever. T2 London will offer more than 200 teas as well as a range of teaware and accessories and daily tea tastings. Currently 65% of young people ages 25-34 in Britain consume tea daily, but the arrival of Starbucks has certainly invigorated coffee culture. In speaking of the new venture, Kevin Havelock, Unilever’s president of their refreshment business, referenced projections that sales in premium and luxury teas are expected to grow 12-14% annually.

The original T2 opened its doors in 1996 in Melbourne, Australia and grew to include 40 stores T2MelbourneStoreacross Australia by last year.

Unilever expects to open more T2 locations in Britain later in the year and is considering locations in other cities around the world.

Unilever is the parent company of T2, Lipton and Brooke Bond.

Source: Reuters