canada

Turmoil at DAVIDsTEA Leads to Missed Opportunity

MONTREAL, Quebec DAVIDsTEA President and CEO Joel Silver resigned this week after a vicious proxy battle that returned control of the public company to co-founder Herschel Segal. A block of investors, led by TDM Asset Management Director Benjamin Gisz, and supported by proxy consultants Glass, Lewis & Co., vigorously objected to a seven-member slate...

David’s Tea Initiatives Support Slight Growth

Growing online sales and renovating stores are part of David’s Tea’s fiscal 2018 plans, which were outlined April 19 in its fourth quarter fiscal 2017 financial results and earnings call. “Our leadership team is committed to improving the performance of our Canadian and U.S. network of stores, realizing the value of our brand and...

Q & A With Shabnam Weber, Tea and Herbal Association of Canada

  Shabnam Weber is the newly appointed president of the Tea and Herbal Association of Canada (THAC). Before accepting the position, she resigned from her role as president and chief executive of Tea Emporium, a tea retail and wholesale company she cofounded in 2000. Weber served the past decade as a director of the...

Shabnam Weber to Lead Tea and Herbal Association of Canada

Shabnam Weber, a Toronto-based tea retailer and founder of The Academy of Tea, is the new president of the Tea and Herbal Association of Canada (THAC). Weber, who co-founded the Tea Emporium, a chain of specialty tea shops, serves as a member of the THAC board. “I am hugely delighted, honored and excited –...

Could a Robot Make Tea Faster? This Duo Thinks So

Inspired by long lines at a tea shop, two engineers found a solution: a robot that custom blends loose leaf tea. TeaBOT tea kiosks make brewing personalized single-serve loose leaf tea efficient. Toronto, Canada-based teaBOT was founded in 2013 by Brian Lee and Rehman Merali. Merali was pursuing his doctorate in aerospace robotics and...

Ten Ren Soars in Hong Kong

Bubble tea maker Ten Ren’s parent company B&S International Holdings’ stocks surged 298 percent in its debut on the Hong Kong IPO market last week, making it the city’s strongest mainboard debut in two years. Initial shares sold for HK$1 and closed at HK$3.98, earning kudos for the company as the most oversubscribed among...

Budding Products: Starbucks Adds New Teas to International Menus

Starbucks Japan Debuts Earl Grey Tea Cream Frappuccino Starbucks Japan is offering its Earl Grey Tea Cream Frappuccino for a limited time, reports Bustle. This new beverage, which blends Earl Grey tea, milk and ice and is topped with sweet honey cream, is timely for a spring release when customers typically make the switch...

DAVIDsTEA Considers Sale

MONTREAL, Quebec – Disappointing earnings led DAVIDsTEA executives to admit during a call with investors last week that they are exploring strategic alternatives including a possible sale of the company. Shares have lost more than half their value in the past 12 months. Alternatives include a joint-venture partner, the sale of assets, merger, divestiture,...

Millennia Tea On Dragons’ Den

CHARLOTTETOWN, Prince Edward Island Millennia Tea founders Tracy and Rory Bell first auditioned to appear on the popular Dragons’ Den TV series in March, months before they had brought their flash-frozen tea to market. The audition took place on Prince Edward Island, a small province that borders the couple’s home province of New Brunswick...

DAVIDs Tea Outlines Growth Strategy

DAVIDs Tea’s second-quarter earnings call on Sept. 7 revealed a multitiered strategy for growth in Canada and the United States. At the top of the call, CEO Joel Silver said, “We’re putting the right team in place and many of the measures we’re initiating will help our team achieve improved performance.” Second-quarter results were...