Tupperware, the iconic food storage brand that was once a staple in American kitchens, may be headed towards default. The brand, which was made popular through its direct sales model where women could earn money hosting Tupperware parties, has struggled to recapture its former glory.
Tupperware's sales peaked in the mid-20th century, but the brand has struggled to adapt to changing consumer preferences and new competition. While Tupperware did see a sales boost during the pandemic as more people cooked at home, it was short-lived. Many younger consumers may not even be familiar with the brand.
However, Tupperware is now hoping to turn things around by expanding its sales channels to include Target and Amazon. The company is hoping that this move, combined with its independent sales team, will allow it to meet consumers where they shop and help prevent it from closing down.
• Default : failure to meet financial obligations
• Recapitalize : to increase a company's capital by obtaining new funds
• Direct sales model : a method of selling products directly to consumers
• Cohorts : a group of people with a shared characteristic
• Adapting to changing consumer preferences : modifying products or services to meet evolving customer needs
• Expansion : the act of increasing in size or scope
• Sales channels : the different ways in which products are sold to customers
• Staple : something that is essential, necessary, or commonly used.