There’s something new brewing in David Segal’s life.
The co-founder of DAVIDsTEA is getting ready to launch a new fast casual restaurant in Ottawa in June. His goal is for the eatery to go nation-wide.
“I think we have a very unique value proposition, for sure,” Segal told The Sault Star during a lunch break at Algoma University’s 11th annual Northern Ontario and Michigan Case Competition. The event ran Thursday at The Water Tower Inn.
Segal parted ways with DAVIDsTEA last March. He’s spent the last year speaking, investing and working on his restaurant project. Segal was the third-largest shareholder of the Mont-Royal, Que.-based DAVIDsTEA (NASDAQ: DTEA). He has since sold all his shares and has no affiliation with the company he helped launch in 2008. A Sault Ste. Marie location opened at Station Mall in November 2015.
“Leaving the company that you started is never easy,” said Segal. “It just felt like it was time.”
He’s “grateful” for his experience with the tea retailer, “had some issues with the direction of the company” and decided the time was right “to go off and start some new things.”
Segal’s idea, now featured at about 190 locations in North America, was to put some pizzazz in selling tea.
“No one was doing it in a fun way,” he said. “It was about making tea accessible and fun for the masses, giving it more of a youthful face rather than a stodgy drink. I think we were able to come up with some really unique flavours and really redefine what tea is.”
DAVIDsTEA sells about 150 different kinds of loose-leaf tea. Selections include Chocolate Cake, Live Wire Lemon, Power Berry and Happy…
click here to read more.