About Tupperware Brands

Tupperware Brands Corporation (Tupperware) operates as a global consumer products company. The company designs innovative, functional, and environmentally responsible products. The company’s signature container created the modern food storage category that revolutionized the way the world stores, serves, and prepares food. This iconic brand has more than 8,500 functional design and utility patents for solution-oriented kitchen and home products. The company distributes its products into nearly 70 countries around the world, primarily through independent sales force members, with an annual average active sales force of approximately 313 thousand in 2022. Worldwide, the company engages in the marketing, manufacture, and sale of design-centric preparation, storage, and serving solutions for the kitchen and home through the Tupperware brand name. The company primarily uses a direct selling business model to distribute and market products, while continuing to expand digital and retail distribution channels. The company’s net sales and revenues declined as it struggled to return its direct selling business to long-term revenue growth. In 2020, under new executive leadership and facing Coronavirus Disease 2019 (COVID-19) related shutdowns globally, the company developed and began executing a turnaround plan (the Turnaround Plan). Sales Products The company designs innovative, functional, and environmentally responsible products to help store, serve, and prepare food. The core of the Tupperware brand product line consists of design-centric preparation, storage, and serving solutions for the kitchen and home, in addition to lines of cookware, knives, microwave products, microfiber textiles, water-filtration related items, and an array of products for on-the-go consumers. The Bamboo and Glass Storage Jars made with FSC Certified bamboo material for the lids – a new, sustainably sourced material for the company. This product line, intended to keep dry ingredients fresh, doubles as a storage solution across the entire home. Beyond storing dry ingredients, like spices, dried beans, nuts, granola, pasta and more, consumers can use the jars in other parts of the home for stylish organization. The jars are designed to stack securely for space efficiency, and launched in Australia, Mexico, United States and Canada, and in some markets in the Asia Pacific and Europe segments. The company builds upon its category experience in reusable drinkware with the launch of the Tupperware Pure&Go Water Filter Bottle, which allows consumers to bring filtered, better tasting water wherever they go. Up to seventy-nine gallons of water can be filtered before replacing the element and the product is certified by NSF International. The bottle comes with an easy-sip straw for easy drinking and it is dishwasher-safe. Tupperware One Touch Fresh Storage brings a practical design, with the company’s signature one touch close and easy open lid and a clear material that allows users to quickly identify its contents. These containers optimize organization in the pantry or fridge, thanks to their modularity, and provide peace of mind to the consumer by reducing food waste. Plus, when not in use, nesting bases and lid snapping features provide a compact storage solution. The Tupperware Ultra Clear, a range of beautiful, transparent containers with the look of glass that feature an easy open lid, are stackable and modular, and are intended to keep dry foods fresher, longer, with the airtight seal. As consumers continue to seek healthier meal options, the company introduced the UrbanMax Portable Blender that operates with a rechargeable battery so there is no need to be plugged in to prepare a smoothie. The battery has enough of a charge to make 10 drinks, and allows consumers to prepare and enjoy fresh smoothies, shakes, juices and other liquid beverages virtually anywhere and everywhere. The blender is also a convenient way to prepare other foods, like sauces, dressings or milkshakes in small quantities without the hassle of cleaning a whole blender or other large appliance. The Tupperware Air Fryer, which features a digital touchscreen display, and captures a growing consumer set who seeks quicker, healthier meals. The Air Fryer has six preset times and temperature icons for the most popular foods, and includes a non-stick basket making cleanup quick and easy. The company continued its focus on creating on-the-go products with the launch of Xploris™ Thermal Tumblers. The tumblers come in two earth-tone colors, are highly functional, reusable, stylish and include double-wall insulation. The tumblers come in three sizes and include a closeable silicone-made plug and drinking spout for easy drinking. The tumblers, made with a spill control lid for minimal spillage, launched in the United States, Canada and markets across Asia Pacific, with plans to launch in Brazil, Europe, Middle East and Africa markets, and Mexico in 2023. Markets The company operates its business under four segments in four broad geographic regions: Asia Pacific, Europe (Europe, Africa and the Middle East), North America, and South America. Sales are to the ultimate customer principally through direct selling by an annual average active sales force of approximately 313 thousand in 2022. Products are primarily sold directly to independent distributors, directors, managers, and dealers (the sales force) throughout the world. Sales force members purchase products at a discount from the company and then sell them to their customers. Sales force compensation plans and sales methods can differ based on the market. A significant portion of the company’s business operates through distributors, some of whom stock inventory and fulfill orders from the sales force. In a stocking model, the distributor orders product, stocks it in a warehouse and picks, packs, and ships it to the sales force for distribution to the end consumer. In a non-stocking model, the company manages the stocking and distribution of inventory while distributors focus on commercial activities. Discounts to the distributor are adjusted depending on the level of service provided. Where distributorships are granted, they have the right to market the company’s products and to utilize Tupperware’s trademarks, subject to certain limitations. The vast majority of the sales force members are independent contractors and not employees of the company. The company also uses retail stores and studios, owned by independent sales force members, in certain markets, most predominantly in China. These physical locations provide an entrepreneurial opportunity for independent owners to connect with consumers to demonstrate and sell products while also creating visibility and reinforcing Tupperware’s image with consumers. As part of the company’s Turnaround Plan, the new growth strategy will expand to offer additional in-person product purchasing opportunities to complement the current retail store and studio strategy. Accelerated by the global pandemic, the company has seen a worldwide shift by its sales force to incorporate digital methods of doing business. The adoption of digital demonstrations has grown as a result of more people staying at home, thus enabling a sales force member’s ability to reach new customers. In both 2022 and 2021, Tupperware provided its sales force with various digital tools to connect with consumers directly through social media and personalized web pages, offered digital training and virtual meetings for sales force development, and maintained direct websites in several countries including, but not limited to, Brazil, Mexico, and the United States and Canada, for consumers to purchase products. Business Strategy In 2022, the company continued to execute on its Turnaround Plan, one that leverages consumer acceptance of the iconic Tupperware brand, which is expected to give the company the ability to expand into new product categories, increase consumer access points, and grow distribution channels, all while strengthening the company’s core direct selling business. The company elected to take additional restructuring actions, which has pushed out the Turnaround Plan timeline. The Turnaround Plan will focus on further simplifying the company’s core business with digital transformation and global exchange of best-selling practices. The company will continue shifting from a distributor push model to a consumer pull model to capture the needs of customer sets; opening up access to Tupperware products in channels where today’s consumers want to shop as part of the company’s omnichannel evolution; and expanding into new product categories to bring more innovative solutions to the market. Discontinued Operations In 2022, the company sold House of Fuller and Nutrimetics. The company executed a Letter of Intent for the sale of 100% of its shares in Nuvo on April 28, 2023, entered into a Sales and Purchase Agreement on July 27, 2023, and completed the sale on August 7, 2023. Trademarks The Tupperware trademark, as well as its other trademarks, is registered on a country-by-country basis. The duration for such registration ranges from five years to ten years; however, each such registration may be renewed an unlimited number of times. The patents used in the company’s business are registered and maintained on a country-by-country basis, with a variety of durations. History The company, a Delaware corporation, was founded in 1946. The company was incorporated in 1996. It was formerly known as Tupperware Corporation and changed its name to Tupperware Brands Corporation in 2005.