DavidsTea

DavidsTea
Public company
Traded as NASDAQ: DTEA
Founded Toronto, Ontario, Canada (2008)
Founders David Segal
Herschel Segal
Headquarters Montreal, Quebec, Canada
Key people
 Joel Silver (President, CEO, Director)
Luis Borgen (CFO)
Products Loose-leaf tea
Website davidstea.com

DavidsTea (often stylized as DAVIDsTEA) (in French Les Thés DavidsTea) is a Canadian specialty tea and tea accessory retailer based in Montreal, Quebec.[1] It is the largest Canadian-based specialty tea boutique in the country, and competes directly with Teavana in many markets. Following the company's initial public offering, common stock began trading on the NASDAQ Global Market on June 5, 2015.

History

In 2008, David Segal and his cousin Herschel Segal founded DavidsTea in Montreal, and opened its first store on Queen Street in Toronto the same year,[1] followed by its first Montreal store in 2009.[2] In 2010 it had stores located across Canada, opening its 50th store in Waterloo, Ontario in 2011. In November that same year it opened its first store outside of Canada in New York City. Fed by a growing tea boutique industry,[3] by 2012 it had expanded to more than 75 stores across Canada and the United States. Since its inception, DavidsTea offers over 150 varieties of teas, numerous tea accessories, and seasonal offerings.[4] The company conducted an initial public offering in the United States in June 2015, the proposed NASDAQ stock symbol being DTEA.[5][6]

In 2013, former talkshow host Oprah Winfrey surprised the small company by promoting the brand[7] in live shows, and later in O, The Oprah Magazine.

In March 2016, co-founder David Segal resigned from DavidsTea.[8]

On May 24, 2016, Christine Bullen was appointed Managing Director of U.S. Markets. On December 8, 2016, Bullen was named Interim President and CEO, effective February 1, 2017.

On March 13, 2017, DavidsTea appointed Joel Silver as President and Chief Executive Officer [9]

References

  1. 1 2 DavidsTea | About Us
  2. ↑ Jasmine Budak (Jun 8, 2011). "Steeped in success". Canadian Business.
  3. ↑ From Starbucks to DavidsTea: Why big business is betting on Tea | The Current with Anna Maria Tremonti | CBC Radio
  4. ↑ "the davidstea experience". DAVIDsTEA. Retrieved 2016-01-19.
  5. ↑ Schultz, Clark (June 5, 2015). "DAVIDsTEA pops on IPO open". Seeking Alpha.
  6. ↑ Schultz, Clark (April 7, 2015). "David's Tea files for U.S. IPO". Seeking Alpha.
  7. ↑ Bryan-Baynes, Elysia (12 April 2013). "Montreal tea company gets plug from Oprah". Global News.
  8. ↑ Shaw, Hollie (21 March 2016). "DavidsTea co-founder, namesake, David Segal resigns as chain’s brand ambassador". Financial Post.
  9. ↑ http://ir.davidstea.com/phoenix.zhtml?c=253953&p=irol-newsArticle&ID=2253584
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