Party is over for bankrupt Tupperware

Tupperware, the company behind the iconic plastic food storage containers, is bankrupt.

Tupperware's rise began in the 1940s when Earl Tupper, a chemist, invented a lightweight, airtight plastic container that revolutionized food storage. But the real genius behind Tupperware's success was Brownie Wise, a single mother who pioneered the now-famous "Tupperware Party" sales model. In the 1950s, she saw potential in direct selling through social gatherings, turning housewives into salespeople. This grassroots strategy catapulted Tupperware to household fame and, having now expanded to individual sellers hawking their, um, wares on social media, still accounts for the company's sales. But it ain't enough.

From NPR:

The strengths of this model recently have "begun to turn into weaknesses," Tupperware said in its bankruptcy filing, in part because it came at the cost of developing an online strategy. The company says it's planning "no current changes" to agreements it has struck with independent sales consultants.

Except for a spike in kitchenware shopping during the pandemic, interest in Tupperware from either shoppers or sellers has waned in recent years. And new costs, including pricier raw materials, labor and shipping, have stacked up.

"Over the last several years, the Company's financial position has been severely impacted by the challenging macroeconomic environment," CEO Laurie Ann Goldman said in a statement. "[The bankruptcy proceeding] is meant to provide us with essential flexibility as we pursue strategic alternatives to support our transformation into a digital-first, technology-led company better positioned to serve our stakeholders."

Previously:
• Tupperware's party is over