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Tupperware has been an important part of households around the globe since the late 1940’s. So it came as quite a shock when it was reported last week that the iconic company is facing financial difficulties and might go out of business soon.
According to AFP, the company announced in a press release last week Friday (7 April) that it had enlisted financial advisors “to assist in securing supplemental financing, and is engaging in discussions with potential investors or financing partners”.
Neil Saunders of GlobalData told AFP that Tupperware is being hit by a number of forces including a sharp decline in the number of sellers, a consumer pullback on home products, and a brand that still does not fully connect with younger consumers.
He added that the company used to be a hotbed of innovation with problem-solving kitchen gadgets, but that it has lost its edge.
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Earl Tupper invented Tupperware back in 1946, when he had a spark of inspiration while creating molds at a plastic factory shortly after the Great Depression.
“If he could design an airtight seal for plastic storage containers, like those on a paint can, he could help war-weary families save money on costly food waste,” the Tupperware website explains.
Tupperware parties were also a big thing back in the day, where friends gathered with food and drinks while a company representative demonstrated the various Tupperware items.
Tweeps flocked to Twitter to share their thoughts on Tupperware possibly going out of business. Emotions ranged from ‘horrified’ to not really being fazed by the loss as they feel the products were unnecessarily expensive.
Tweeps also joked about friendships that have ended after Tupperware wasn’t returned and checking on their mom’s return policy for Tupperware they have borrowed before.