Every millennial or Gen Z has a story to tell about being scolded or beaten for losing their mother’s Tupperware, that goes to show how many households in Mzansi have the product.
Tupperware, the company, has filed for bankruptcy. Tupperware Brands Corporation, the iconic global brand, announced on Tuesday that it had voluntarily initiated Chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware.
The much-loved container has remained a household staple for many decades in South Africa since it was introduced in 1964 as many mothers have either two, more or the entire set of Tupperware container sets hiding in their kitchen cupboards.
The brand has been known for its quality, its different designs as well as the different storage sizes, be it the containers or the bottles.
Last year, Tupperware saw a dramatic decline in sales and IOL reported that it was on the brink of its closure.
It was also reported that its sales strategy which was called “The Tupperware party” where women held social gatherings to sell the containers, might be the reason for its closure since the brand was not sold anywhere in supermarkets.
Despite trying to keep up with the trends, the brand has failed to appeal to the younger audience, millennials as well as the Gen Z, which might be the reason for it’s decline in sales.
In a statement, Tupperware said that despite filing for bankruptcy, the company will continue to operate during the proceedings and the brand will seek the court’s approval in order to protect its iconic brand and further advance Tupperware's transformation into a digital-first, technology-led company.
Laurie Ann Goldman, President and Chief Executive Officer of Tupperware said “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. This process 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”.
IOL