Tupperware once changed women’s lives. Now it struggles to survive – Gist It

Tupperware once changed women’s lives. Now it struggles to survive

Tupperware faces financial struggles despite its storied past in revolutionizing women’s lives and kitchen storage.

From revolution to decline: Once a symbol of modern home life and a source of income for many women, Tupperware now deals with its value being less than a tenth the size of its debt and possible bankruptcy.
* Sales stagnated and declined over the past decade, leading to a decrease in the sales force.
* Tupperware’s growth now mostly comes from overseas, with nearly half of the active sellers in South America.

Pandemic boost short-lived: The COVID-19 pandemic saw a temporary increase in Tupperware’s profits when home cooking surged, but the sales boost didn’t last.
* The company cited reasons such as inflation and high interest rates for its continued decline.

New partnerships and approach: Tupperware recently partnered with Target to sell products on store shelves in the US and offers vintage-inspired items on Amazon.
* CEO Miguel Fernandez aims to grow Tupperware’s business to match the size of its brand.

View original article on NPR

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