Starbucks Lauches Teavana In 6,200 Stores Across China, Asia-Pacific Region

Starbucks Corp. said Monday that it is introducing Teavana beverages and teas across 16 markets in China and the Asia-Pacific region, a total of 6,200 stores. Starbucks' tea business in the U.S. grew 12%, according to a release, and the company aims to increase its tea business to $3 billion in the next five years. The company has created a number of tea drinks especially for the Asian market, including black tea with ruby grapefruit and honey, and iced shaken green tea with aloe. Starbucks is also making full-leaf tea sachets available in nine flavors. Starbucks shares are down 0.7% in premarket trading, and down 9.5% for the year so far. The S&P 500 Index is up 4.1% for the year to date.