Royal Black Tea Company Ltd (RBT) has said it will stop selling its premium Black tea, saying it will “rethink its strategy and focus on other markets”.
The company said the decision to make the change was a “tough decision” and will be communicated to its customers by the end of March.
The company is set to sell the brand of premium tea, which is produced in Scotland, and the company said it would be working with other retailers and brands to continue to sell it.
RBT said it is making “significant changes to our business to be more effective” to meet customers’ needs.
“As we continue to evolve our strategy and product mix, we are exploring the next step of our strategy by considering the future,” it said in a statement.
The announcement came as the UK’s largest retailer, Tesco, announced plans to sell its premium tea in its stores across the country.
Tesco said it had been in discussions with RBT for several years to create a new range of premium Black teas, but that they were “not yet ready” to do so.
It said it was looking at “a number of strategic options” to expand its offerings of Black teabags, but it would not be commenting further.
Consumers are likely to buy more premium tea and the market for it is becoming much more diverse. “
The UK market is a very mature market.
A spokesman for RBT, which owns Royal Black, said: We are deeply saddened by this news and will have more to say in due course. “
RBT’s decision is a tough one to take and could well impact on its business as it is looking to focus its efforts on other market segments.”
A spokesman for RBT, which owns Royal Black, said: We are deeply saddened by this news and will have more to say in due course.
“This is an incredibly challenging time for our company and our customers and we remain committed to supporting them.”