Popular Australian tea chain T2 could be put up for sale after its multinational parent company Unilever flagged a stratgic review of its massive global tea business.
The British-Dutch consumer goods behemoth told investors last Friday morning it was cooling on its €3 billion tea division after a sustained period of low sales growth, which it attributed to shifting consumer preferences and a drift away from traditional black tea to herbal varieties.Unilever's chief executive Alan Jope said on an earnings call with investors the company would conduct a stategic review of its tea business and T2 would be included in the reivew.
"The black tea drinkers are getting older and consuming less and will start to fall over and that is actually the fundamental problem," he said. T2's specialty lies in its unique upmarket blends – such as Lamington, Honey Chai, Peppermint and Watermelon Sorbet brews – and its selection of fancy teapots, mugs, and steepers. At the time of the 2013 acquisition, Unilever mooted plans to expand the Australian success story by opening T2 stores around the world.
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domp So overpriced. How different can it be to any other type of tea?
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Source: SkyNewsAust - 🏆 7. / 78 Read more »