Created in 1946 by the famous American firm Tupperware, these plastic containers have become an indispensable tool and at the same time a fashion accessory. On the strength of a success on the global axis, the brand is experiencing a very low and even potentially fatal period.
The brand is on the verge of closing its doors due to an imposing debt and a vertiginous fall in the stock market. It has racked up $700 million in debt and its stock market plunged 49% on Monday, April 17. CEO Miguel Fernandez says he has reached out to financial advisors to raise the bar
Many reasons make the company fall to the point of definitive closure. First, the explosion in the price of plastic has played an important role since it has increased by 35% in one year. Tupperware boxes have seen their prices soar, prompting some consumers to look elsewhere. Competition is also a reason not to be underestimated, as attested by Rodolphe Bonnasse, consumer expert on Europe 1: “Tupperware is ultimately the top of the range of plastic containers. It faces strong competition. To give a example: today, two Tupperware plastic boxes are worth 15 euros. The same boxes in networks of specialized supermarkets cost 4 euros”.
Apart from the somewhat unfair competition, the door opens in favor of glass boxes. Consumers prefer to turn to these stronger and more durable containers. These are mainly bought by an unknown generation of Tupperware meetings. In response to these sales difficulties, the firm wants to lay off some of these 10,000 employees, as reported by our colleagues at Capital.
Not sure if you should part with your Tupperware box? Here is a selection of 5 signs showing you that it is time to throw it away!
