Shearman & Sterling represented Bank of America Merrill Lynch and Goldman, Sachs & Co. as lead underwriters in connection with the initial public offering of Teavana Holdings, Inc. Morgan Stanley, Piper Jaffray, William Blair & Company and Stifel Nicolaus Weisel also participated as co-managers in the offering.

Teavana priced its offering at $17 a share on July 27, 2011, above its expected range of $13 to $15 a share. The company is a rapidly growing specialty retailer offering more than 100 varieties of premium loose-leaf teas, authentic artisanal teawares and other tea-related merchandise. Teavana offers its products through 161 company-owned stores in 35 states and 19 franchised stores primarily in Mexico.

The Shearman team included partner Russell Sacks (New York–Financial Institutions Advisory & Financial Regulatory), and associates Shihani Soysa (New York–Capital Markets), Jennifer A. Val (New York–Capital Markets), Luna Bloom (New York–Capital Markets), Veronica Wissel (New York–Executive Compensation & Employee Benefits), Shriram Bhashyam (New York-Financial Institutions Advisory & Financial Regulatory), Steven Blau (New York-Financial Institutions Advisory & Financial Regulatory) and Clara Lim (New York-Tax).