They built an empire on face-to-face shows. Today they are on the verge of bankruptcy.

The American company Tupperware has actually revolutionized the way we store products and move them to another place. For 77 years, plastic containers of various shapes, with different opening methods, with and without compartments, not only met in hundreds of thousands of kitchens, but also found imitators. You can find a wide range of boxes at any home improvement store, and not necessarily with the Tupperware logo, but let’s be honest, that’s where it all started.

The company is looking for an investor, and the three presidents did not develop a good strategy

Will this story end soon? The company is experiencing financial difficulties and needs an investor. Previously, the company wanted to maintain sales by expanding the range, for example, baby bottles. Unfortunately, this was not enough. If the way to save money was a personnel carousel - with the hope that the next president will develop an effective strategy - then this idea did not work either. Tupperware has gone through three CEOs in five years.

Tupperware said in a statement that Andthe company’s shares may be delisted from the New York Stock Exchange because the company has not yet filed its annual report. It is also due to renegotiate its loans for the third time from August 2022. Faced with rising debt repayments, the company predicts it “may not have sufficient liquidity anytime soon” and warns that “there are serious doubts about its ability to continue as a going concern for the foreseeable future.”

Tupperware shares fell nearly 50% on Monday but rose 5.6% on Tuesday.

The company also said it is working with financial advisors to raise more funds and investment. He also checks to see if he can sell the property and cut employment.

Tupperwar party. A long tradition that you can still take part in

Tupperware still maintains a sales model that is essentially a thing of the past - you can purchase products not only in an online store or discount store, but also invite a seller to conduct a demonstration. Neighbors can be invited to such a meeting.

The first Tuppenware party (the name really refers to performances organized for large groups of friends during which snacks are served) took place in 1948. It proved to be a hit: from 1951, the Tupperware party system worked so well that all Tupperware products were taken off store shelves and could only be purchased during the show. “The Direct Selling Show has become a welcome entertainment for women, whose participation in public life has been centered primarily around their family,” the company’s website says.

“Selling Tupperware in batches was an attractive career for those women who had few career opportunities after the men returned from the war. As consumers moved from large urban centers to homes in the suburbs, backyard barbecues have become a favorite pastime for families and neighbors,” the company continues.

You can still invite a representative of the company to your place (although not in every region - “parties” are still popular in Germany, although the company offers this method of sales in Poland. If you are interested, be sure to visit the company’s website and make an appointment with consultant).

However, such a meeting is becoming increasingly difficult: in March of this year, the company announced a 20 percent increase. a decrease in their number in 2022 compared to the previous year. This is the result of a habit from the pandemic, when people limited meetings, and certainly did not invite strangers to their place.