 | |
 Argo Tea former headquarters on Randolph St. in the Chicago Loop | |
| Company type | Subsidiary |
|---|---|
| Industry | Restaurants Retail Tea and Coffee Wholesale Tea |
| Founded | June 2003 at 958 West Armitage Ave. Chicago, IL 60614 |
| Founder | Arsen Avakian Daniel Lindwasser Simon Simonian |
Number of locations | 8 (2023),[1] all located on college campuses |
| Products | Signature tea drinks Loose tea leaves Bottled beverages Coffee Teaware |
| Parent | Planting Hope |
| Website | www |
Argo Tea began as a chain of tea cafes that was founded in the Lincoln Park community area in Chicago, Illinois, in June 2003.
In 2020, the company was sold to Golden Fleece Beverages which tried to focus on distributing read-to-drink Argo's products in retail stores and eliminating company-owned cafes. The company was sold again in 2023 to Planting Hope two years after Golden Fleece filed for Chapter 11 bankruptcy protection. Planting Hope discontinued the distribution of read-to-drink retail store products to focus in selling licenses to franchisees to operate Argo branded cafes. At the end of 2023, Argo Tea had licenses for eight cafes, all located on college campuses and operated by commercial food services operators such as Aramark and Sodexo.
It was headquartered in Chicago's Loop community area. It had more than a dozen locations in the Chicago metropolitan area before expanding in 2010 to New York City, where it opened four locations that year and then expanded to St. Louis and Boston.[2] As of October 2011[update] the chain had 26 locations and distribution in over 3,000 grocery stores.[3] In its first decade, it has grown simultaneously with the tea market. Its expansion into grocery stores occurred in 2010 and 2011. Arsen Avakian is the current chief executive officer.[2] By spring 2013, it had opened in Beirut with plans to add locations in five Middle East cities by year end.
Argo Tea primarily sells a variety of hot and cold tea-based signature drinks. In addition, it offers about three dozen international varieties of loose-leaf tea (tea brewed from loose tea leaves, as opposed to tea leaves in bagged tea), coffee, baked goods, small entrées, and teaware.[4] The tea menu included a variety of black, green, white teas, and natural herbal teas, served hot or iced. Argo Tea has formed a special relationship with Whole Foods Market to distribute Argo products.[5] According to the description in Bloomberg Businessweek, Argo's specialty foods include pastries, sandwiches, salads, and quiches. Argo markets from a lifestyle perspective with awareness of modern design and sustainable environment. It also sells audio CDs.[6]
In 2020, Argo Tea began selling bottled tea in Walgreens and other stores, “shifting its focus to a ready-to-drink premium tea line derived from one of its most popular café beverages.” [from cafés], and it was acquired by Golden Fleece. “Golden Fleece Beverages, Inc. took ownership of the Argo Tea brand, and has continued to operate the business as Argo Tea.”[7][8] Loose tea is sold online.[8]
- ^ Cite error: The named reference
crain-2023sep28was invoked but never defined (see the help page). - ^ a b Cite error: The named reference
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TAwas invoked but never defined (see the help page). - ^ Ortiz, Ruby (February 10, 2004). "Chicago Beat: Tea time". Chicago Flame. Retrieved December 13, 2006.
- ^ Simone, Patricia (July 1, 2006). "You Can Do It!". Entrepreneur. Archived from the original on May 27, 2012. Retrieved December 13, 2006.
- ^ "Argo Tea, Inc". Bloomberg Businessweek. Archived from the original on January 14, 2013. Retrieved September 30, 2011.
- ^ "Growing Tea Buds". Argo Tea. Retrieved September 17, 2021.
- ^ a b Johnston, Lisa (November 6, 2020). "Loud and Clear: Driving Excitement and Visibility During Argo Tea's Relaunch". Consumer Goods. Retrieved September 17, 2021.