British tea firm Ringtons is turning over new leaf in US
BRITISH tea merchant Ringtons is expanding into the US to try to tap into a market worth $2 billion (£1.3 billion).
The firm sees potential in the US tea market
Chief executive Simon Smith said: “We have signed with two distributors, one in the East and one in the West.
"There is a massive tea market in the US, so the potential is huge.”
There is a massive tea market in the US, so the potential is huge
The North East based firm, which was founded in 1907, is already in Japan and Australia and Smith added that it will expand to “every country that wants us”.
Ringtons sells tea door-to-door and online in the UK to 260,000 customers.
It turned over £47 million in 2013 and Smith said Ringtons would pull in about £50 million for 2014.