canada

DAVIDsTEA 2nd Quarter Earnings Call Executes Turnaround

During a second-quarter earnings call, Executive Chairman and Interim CEO Herschel Segal described the changes he believes will return the company to profitability following several quarters of declines. In the first quarter, DAVIDsTEA reported a $10 million net loss following board upheaval that led to a change in management. Sales declined 12 percent compared...

North American Tea Conference Infuses Niagara Falls

The Tea and Herbal Association of Canada and the Tea Association of the USA are joining forces again to host the tenth annual North American Tea Conference in Niagara Falls, Ontario, Canada, Sept. 25-27 at the Hilton Niagara Falls/Fallsview Hotel & Suites. The mission of the event, which is run by and for the tea...

DAVIDsTEA Investment Partners Sue to Remove Executive Chairman

Shares of DAVIDsTEA fell to a 12-month low of $2.30 last week following a proxy fight, board resignations and a shareholder’s lawsuit seeking to remove co-founder Herschel Segal as executive chair. The company operates 240 tea shops in the U.S. and Canada. Shares were $30 when the company went public in 2015 and were...

Budding Products: Creative Kombuchas

Taste GT’s Unity Kombucha Beverly Hills, California-based GT’s Living Foods introduced its limited-edition Unity kombucha for the summer. Two hands clasping in unity distinguishes its package design. The Unity kombucha flavor is a blend of cherry, coconut and lemongrass. It is available through Aug. 31. GT’s also is promoting its “Unity” Spotify playlist by...

Camellia Sinensis Wins 2 World Tea Awards

Quebec’s Camellia Sinensis took home two World Tea Awards at the World Tea Expo in Las Vegas in June. The 20-year-old Canadian business was named Best Retail Tea Shop, Café, Bar and also won Best E-commerce Tea Website. Helmed by four business partners with interests in different aspects of tea, Camellia Sinensis has grown...

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...