It’s the end of an era for Tupperware. The trademark brand that’s become a part of everyday American jargon—not to mention a generic term to describe food storage containers as a whole despite their brand name—is becoming a thing of the past. A brand rooted in women's empowerment, Tupperware was once untouchable. In the ‘50s and ‘60s, the company financially flourished thanks to “Tupperware parties.” This field sales approach eventually transitioned into online sales, only for the company to eventually give into wholesale distribution. But given the brand’s declining revenue in today’s cutthroat market, the company is closing the lid on Tupperware for good.
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Tupperware has filed for bankruptcy after suffering a huge financial hit, the company announced in a Sept. 17 press release. The iconic global brand was founded in 1946, going up against Pyrex and Rubbermaid. The category has since been inundated by other competitive brands such as Glad, Snapware, Ello, Caraway, and OXO.
"Over the last several years, the Company's financial position has been severely impacted by the challenging macroeconomic environment. As a result, we explored numerous strategic options and determined this is the best path forward,” Tupperware president and CEO Laurie Anna Goldman said in a statement.
Under the appointment of a new management team, Tupperware has voluntarily initiated Chapter 11 bankruptcy proceedings. According to Goldman, this will provide the company “essential flexibility as we pursue strategic alternatives to support our transformation into a digital-first, technology-led company better positioned to serve our stakeholders.”
In a note to CNN, a finance market expert seemingly tried to quell worries that this could be the end of Tupperware as customers know it, arguing that someone could come in and buy-out the business. However, the general public’s rising concern about plastic food containers is a significant hurdle.
“There is still a chance a buyer for the business can be found but, with plastic seen as far from fantastic among eco-aware consumers, revitalizing the brand will be an uphill struggle,” Susannah Streeter, head of money and markets at UK investment platform Hargreaves Lansdown, told CNN.
In other words, “the party is over for Tupperware,” she added.
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Luckily, you still have some time to snag remaining Tupperware products before they’re no longer available. The largest inventory of Tupperware name-brand products, including vintage sets, can be found at Tupperware.com. However, if you’re someone who prefers to shop in-person, Tupperware is sold at Macy’s, Walmart, and Target. Amazon also has a wide selection as does Etsy, where you might find vintage sets from longtime Tupperware collectors.
"Whether you are a dedicated member of our Tupperware team, sell, cook with, or simply love our Tupperware products, you are a part of our Tupperware family. We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process," said Goldman.
