Sipping tea, Arsen Avakian envisioned a tea revolution. Argo Tea began in Chicago in June 2003. Three partners launched Argo Tea. They were Arsen Avakian, Simon Simonian, and Daniel Lindwasser.
Avakian and Simonian were boyhood friends from Armenia. They immigrated to the United States in the 1990s. Simonian was a computer scientist. Avakian was a startup company specialist. Lindwasser was a Frenchman and a former management consultant.
The first Argo Tea cafe opened at 958 West Armitage Avenue in Chicago. It was the first tea cafe in Lincoln Park. It was across the street from a Starbucks. The name Argo Tea comes from Jason and the Argonauts. The founders financed the store themselves. They used credit cards.
Initially, Argo Tea sold boxed dry tea at Whole Foods. But, they changed their strategy. Six months later, Argo planned to expand. By 2006, Argo Tea had three locations. One was at Loyola University. Another was on Randolph Street. In March 2006, Argo Tea opened a teaosk at the University of Chicago Medical Center.
By 2007, Argo Tea wanted consistency. It began brewing tea concentrate centrally. After five years, there were 10 Argo Tea locations in Chicago. Some Argo Tea cafes were near Starbucks. The idea was that Starbucks increased demand for tea.
Argo Tea opened in New York City in 2010. They signed a 10-year lease in the Flatiron Building. They opened four cafes in New York City in 2010. Investors included Sam Zell and Glen Tullman. By 2010, Argo Tea stopped trying to be the Starbucks of tea. Avakian wanted Argo Tea to be like Apple. In 2011, Argo Tea had 18 stores. Fourteen were in Chicago. Four were in New York. Annual sales were 10 million dollars.
The San Francisco Chronicle said Argo Tea caused the 21st century tea shop revolution. Time claimed Argo Tea got America to drink tea. In 2011, the US had over 3000 tearooms. Between 2006 and 2009, coffee consumption decreased. Tea consumption increased. Starbucks started building the Tazo brand because of tea’s growth.
In 2013, Argo Tea did not renew the lease on its original location. They opened a greenhouse location near Rush Street. By 2013, bottled drinks were 20% of Argo Tea’s business. Argo Tea opened in Beirut. They planned to open in Doha.
In 2020, Argo Tea focused on bottled tea drinks. Golden Fleece Beverages acquired it. They made a deal with Walgreens. In 2023, Planting Hope bought Argo Tea. They planned to focus on licensing Argo Tea cafes.
Argo Tea sells hot and cold tea drinks. It offers loose-leaf teas, coffee, baked goods, and teaware. The tea menu includes black, green, white, and herbal teas. Argo Tea has a relationship with Whole Foods Market.
Argo Tea started with 35 teas. These teas came from around the world. One signature drink came from a trip to Ipanema Beach in Rio de Janeiro. Avakian paid a juice bar operator to experiment with flavors. One signature drink is the teappuccino.
Originally, Argo Tea sold Illy brand coffee. The company imports teas. It brews them in downtown Chicago. Argo Tea sells loose tea in bags. Argo Tea also serves a Mate latte.
Argo Tea supports tea research. It donated white teas to the University of Chicago Hospitals. The company holds tea seminars. Argo Tea promotes sustainability. It encourages reusable service ware. Argo Tea sells reusable tea tumblers.
In 2011, 80 percent of Argo Tea’s sales came from tea beverages. In August 2011, Argo Tea developed a store in Connors Park.
Argo Tea aimed to redefine tea. They wanted to create healthy, all-natural tea beverages. They wanted to provide customer experiences that reflect modern design. They also wanted to be environmentally conscious.