Tupperware Brands

Last updated
Tupperware Brands Corporation
Company type Public
NYSE:  TUP
IndustryConsumer products, household goods
Founded1938(86 years ago) (1938) in Grafton, Massachusetts
Founder Earl Tupper
Headquarters14901 South Orange Blossom Trail,
Kissimmee, Florida
,
United States
Key people
Susan Cameron, Chair
Laurie Ann Goldman, CEO
ProductsFood storage, kitchen preparation, serving, microwave, on-the-go, baking, cookware, great cutlery, cosmetics, personal care products
RevenueIncrease2.svg$1,602.3 million (2021)
Increase2.svg US$250.5 million (2021)
Increase2.svg US$155.6 million (2021)
Total assets Increase2.svg US$1,255.4 million (2021)
Total equity Increase2.svg US$207.1 million (shareholders' equity) (2021)
Number of employees
10,000 (2021)
Website www.tupperwarebrands.com
Footnotes /references
[1]

Tupperware Brands Corporation, formerly Tupperware Corporation, is an American multinational company that produces home product lines that include kitchen gadgets, preparation, storage containers, and serving products for the kitchen and home. [2] Its main focus is kitchen and household products, and it is particularly known for its line of plastic containers for food storage and preparation. By extension, plastic food containers in general, regardless of brand, are sometimes referred to as Tupperware. [3]

Contents

History

Tupperware Brands Corporation was founded as The Tupperware Company in 1938 in South Grafton, Massachusetts by Earl Tupper. [4] In 1951, Tupper and his wife moved the company's headquarters to Kissimmee, Florida, where they had purchased 1,000 acres of land. [5] In 1958, Tupper sold The Tupperware Company for $16 million to Rexall. [5] In December 2005, Tupperware Corporation changed its name to Tupperware Brands Corporation to reflect the company's increasing product diversity. [6]

Starting in 1997, Tupperware was directed by Rick Goings. [7]

In 2020, Tupperware Brands Corp. appointed Miguel Fernandez as a new chief executive, who previously served in executive positions at Avon Products Inc. and Herbalife Nutrition Ltd., as CEO. He took over the top position at the company April 6, 2020. [8]

A stand selling Tupperware at the Marin County Fair in 2023. Tupperware stand - 2023 Marin County Fair - Sarah Stierch.jpg
A stand selling Tupperware at the Marin County Fair in 2023.

Laurie Ann Goldman, former CEO of clothing manufacturer Spanx, replaced Fernandez as Tupperware CEO on October 17, 2023. [9]

On September 16, 2024, Tupperware Brands Corp. announced that they were preparing to file for Chapter 11 bankruptcy protection later in the week after a failed comeback after beneficial sales during the COVID-19 pandemic. The company's stock fell nearly 60% after the announcement. [10] On September 18, Tupperware Brands filed for Chapter 11 bankruptcy protection, with plans to continue operating during the proceedings. [11]

Brands

A decade after starting business in the United States, Tupperware expanded into Europe. By 1965, the company had a presence in six European countries, and then launched in Singapore, Japan, and Australia. Tupperware also had sales offices in Africa and Latin America before 1970. After that, Tupperware Brands expanded to almost 100 countries around the world under seven brands connected to it: the brands Tupperware, Avroy Shlain, BeautiControl, Fuller Cosmetics (including Armand Dupree), NaturCare, Nutrimetics, and Nuvo. [12]

In 2008, due to its success in developing the brand's name in China, India, and Indonesia, Tupperware received awards for "Most Favored Brand by Women" and "Company with the Best Corporate Face." [13]

Awards

In 2010, the company was ranked equal #2 in Fortune's Most Admired Home equipment and furnishings section. [14]

See also

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References

  1. ↑ "Tupperware Brands Corporation 2021 Annual Form 10-K Report". U.S. Securities and Exchange Commission. February 23, 2022. Retrieved April 10, 2023.
  2. ↑ "MLMs Are A Nightmare For Women And Everyone They Know". 27 June 2019.
  3. ↑ Hughes, Laura (8 September 2017). "Theresa May: 'Geoffrey Boycott has still got my Tupperware'". The Telegraph. Theresa May has revealed Geoffrey Boycott still has her Tupperware after she delivered him a batch of home-made brownies.
  4. ↑ Stormont, Brian (July 6, 2020). "Tupperware: Lazy Susan played a small part in success of product that evokes so many memories". Press and Journal. Archived from the original on 2020-08-24.
  5. 1 2 "Tupperware Home Parties | American Experience". PBS. 2018-02-14. Retrieved 2020-07-29.
  6. ↑ Chediak, Mark (October 24, 2018). "Tupperware alters its name". Orlando Sentinel. Archived from the original on February 13, 2024.
  7. ↑ Hope, Katie (2017-02-15). "Tupperware: How the 1950s party model conquered the world". BBC News. Retrieved 2017-08-12.
  8. ↑ Maidenberg, Micah (12 March 2020). "Tupperware Brands Names New CEO as Business Looks for Traction". Wall Street Journal.
  9. ↑ Kavilanz, Parija (2023-10-17). "Tupperware picks Spanx veteran as new CEO | CNN Business". CNN. Retrieved 2023-10-20.
  10. ↑ "Tupperware Brands plans to file for bankruptcy, Bloomberg News reports". Reuters. September 16, 2024. Retrieved September 16, 2024.
  11. ↑ Dmitracova, Olesya; Maruf, Ramishah (September 18, 2024). "'The party is over' as Tupperware files for bankruptcy after years of troubles". CNN. Retrieved September 18, 2024.
  12. ↑ "Tupperware Brands | Worldwide Presence". Archived from the original on 17 December 2011. Retrieved 5 December 2011.
  13. ↑ "Tupperware Receives Coveted Awards for Top Brand Recognition in Three Markets".
  14. ↑ "Most Admired Industries". CNN. March 22, 2010.
  15. ↑ "Tupperware pioneer, Joe Hara, dies at 91 in Longwood". January 2, 2018.


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