Tupperware - Direct Selling News https://www.directsellingnews.com The News You Need. The Name You Trust. Wed, 03 Jan 2024 19:20:41 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.2 https://www.directsellingnews.com/wp-content/uploads/2021/04/DSN-favicon-150x150.png Tupperware - Direct Selling News https://www.directsellingnews.com 32 32 Cheers to 20! https://www.directsellingnews.com/2024/01/03/cheers-to-20/?utm_source=rss&utm_medium=rss&utm_campaign=cheers-to-20 Wed, 03 Jan 2024 19:19:28 +0000 https://www.directsellingnews.com/?p=20552 As we celebrate 20 years of innovations and insights, we take a look back on a few of DSN’s most important milestones. And, we asked industry leaders and legends to share how past evolutions and current opportunities are shaping the future of the industry.

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On DSN’s 20th anniversary, we asked industry leaders and legends to share how past evolutions and current opportunities are shaping the future of the industry.

In 2004, Stuart Johnson, now CEO of Direct Selling Partners, Direct Selling News (DSN) and NOW Tech, held a clear vision: to create a monthly publication that offered timely and useful information to direct selling executives. Today, that vision has expanded beyond a print publication to include podcasts, workshops, executive forums and informative in-person events featuring the biggest names in the industry. The format and appearance of the magazine has changed throughout the years, but the original foundation of Johnson’s vision remains unchanged.

As we celebrate 20 years of innovations and insights, we take a look back on a few of DSN’s most important milestones. But even before DSN’s debut in 2004, Founder and CEO Stuart Johnson had an illustrious career influencing the channel. He founded VideoDirect in 1987, which ultimately became VideoPlus and then SUCCESS Partners. He launched SUCCESS Partners University, an education conference for direct selling corporate executives in 2002.

DSN, now in its twentieth year of publication, continues to be the go-to resource for well-researched global industry news, expert insights and interviews with the founders and executive leaders behind the channel’s legacy companies and rising stars.

Deborah K. Heisz, now Neora Co-CEO, and John Fleming, a DSN Legend and former Avon executive, were two of the original staff members tasked with assembling the publication’s flagship print issues.

“At the time, there was no real periodical resource for legitimate news and information for people who were leading and operating direct selling companies,” Heisz said. “People were hungry for a trade journal they could rely on, and we received feedback from dozens—if not hundreds—of executives and owners across the industry letting us know we had truly filled a need.”

From a simple eight-page newsletter to the robust, global magazine it is today, DSN remains committed to supporting, informing, connecting and challenging direct selling executives across the US and around the world.

“I planned to stay for two to three years, but I remained Publisher and Editor in Chief for nine,” Fleming said. “We started by building something relevant and, in many ways, it has become far more relevant than we ever envisioned.”

Twenty Years of Industry-Changing Trends

The past two decades have been host to some of the most dramatic shifts in the channel, including the proliferation of the internet; the broad adoption of mobile devices; and pandemic-induced social distancing that forever changed the way shoppers buy products and interact with brands. With each paradigm shift, the direct selling industry learned to evolve and adapt.

We asked these executives: In the last 20 years, what changes have had the greatest impact on the industry?

“The vast majority of companies started in the industry by sharing products at home parties. Now, we’re sharing the opportunity virtually and across the globe without concern for physical barriers. Digital platforms forced all of us to adjust, while opening up a world of opportunity.”—Mark Pentecost / It Works! Founder and Chairman

“The operating landscape has permanently changed. Millennials want their own gig, but the average direct-to-consumer venture lacks the ability to scale up the way a direct selling company can with sales organizations.”—Rick Goings / DSN Legend, Chairman Emeritus and former CEO of Tupperware Brands

“Twenty years ago, signups and applications required a stack of paper. Today, it’s all done digitally. Technology has enabled much more efficient point-of-sale transactions and created the ability to connect and communicate with more people.”—John Addison / Addison Leadership Group; Board Member for Primerica, LegalShield; Senior Advisor to Utility Warehouse

“The digital revolution of the early 2000s felt, at the time, like a once-in-a-lifetime revolution, but it proved to be just the beginning of an avalanche of technology and business models that would profoundly change the world around us. Through all of these changes–the rise of social media, gig platforms and AI, and the challenges of the pandemic—we have demonstrated that, as a channel, we can adapt and evolve quickly.—John Parker / Amway Chief Sales Officer

“Technology has been the biggest gamechanger for us. I believe you have to have a robust strategy in both automation and face-to-face interactions for success in today’s marketplace. It is a delicate balance. Simplicity and speed can be the difference between success and failure.”—Kevin Guest / USANA Executive Chairman

The Next 20 Years

Lessons from the past 20 years have illustrated that change is not only inevitable; it is a critical part of healthy evolution. It was by welcoming social media, ecommerce and a digital-first footprint that the industry was prepared to not only survive but thrive during the pandemic. And as industry leaders look to the horizon, it will be that same bold approach and nimble, open mindset that will prepare the next generation of direct sellers for success.

We asked these executives: What actions should leaders be taking now to prepare for the future?

“We need to remember what got us here. We have always been an industry that focuses on building people, and then those people go on to build our business. We can ensure our future success by remembering that the most valuable asset any direct selling company has is our loyal, hardworking distributor field!Rudy Revak / DSN Legend, Founder of Symmetry and Xyngular

“As technology continues to create opportunities and disruptions, I believe the future of direct selling will have to be centered around community and the social dynamic in our businesses. Great products, compelling income opportunities, competitive customer and representative experiences will continue to be basic requirements, but the community and social experiences we offer can be real differentiators.—John Parker / Amway Chief Sales Officer

“We empower women and others to work a meaningful business in pockets of their day. That’s the best part of direct selling. That’s how we win. We must continue to create and emphasize this opportunity—the side hustle is always in style.—Sarah Shadonix / Scout & Cellar Founder and CEO

“Leaders in the channel should plan for growth. Those who stay current by investing in the technologies of today and tomorrow—including new ways to purchase, improve speed to customer and product value—will thrive.—Joni Rogers-Kante / SeneGence Founder and CEO

“Direct selling will continue to thrive where the exchange of value is ongoing and supportive—like in following a nutrition or fitness plan—because of the importance of accountability to achieve success, but we need to acknowledge that affiliate marketing will replace network marketing where the relationship is purely transactional.—Carl Daikeler / BODi CEO

“Personalization and integration of AI in customer service are trends that we find exciting and that we are integrating into our strategy. Direct selling is also very unique; we never work solely online or offline. The future is hybrid, and we are relying on hybrid solutions in our strategy and development to be active pioneers in our industry.—Rolf Sorg / PM-International Founder and CEO

Creating a Lasting Impact

DSN has always strived to stay on the cutting edge of direct selling trends, news and thought leadership through its educational initiatives and events. We asked these executives: How has DSN’s coverage and perspective impacted your businesses over the past two decades?

“DSN has challenged the way I think about our business and the future of our channel. It helps me sift through the hype and understand the real innovations and opportunities that will shape our future. I am so grateful for the connections and insights that DSN has brought to me and our industry.”—John Parker / Amway Chief Sales Officer

“What DSN provides is something critical for the industry: a collegial way to share best practices with one another. One of the great things about the direct selling industry is people’s willingness to share both their successes and failures. DSN gives executives a way to learn and grow their businesses.John Addison / Addison Leadership Group CEO; Board Member for Primerica, LegalShield; Senior Advisor to Utility Warehouse

“DSN is a powerful source of knowledge, allowing companies to learn from each other and grow. DSN has always offered great insights and innovative ideas. When there can be criticism of our industry, it’s important to have a platform like DSN to speak of the positive impact we’re having around the world.—Mark Pentecost / It Works! Founder and Chairman

“DSN is an important forum for keeping abreast to fast changing forces and how others are approaching and adapting to remain vital and resilient.—Rick Goings / DSN Legend, Chairman Emeritus and former CEO of Tupperware Brands

“The DSN articles and DSU events have been an amazing asset to the corporate leaders of this channel. They both create opportunities to gain valuable information, ideas and strategies, and they give guidance during changing and challenging times.—Rudy Revak / DSN Legend, Founder of Symmetry and Xyngular

“DSN continues to be an important voice and resource for steering the direction of this method of sales and marketing. It’s easy for institutions and regulators to lose sight of the individuals who legitimately use direct selling as their livelihood. DSN helps us all remember who is most important in this industry, and it’s not the company—it’s the distributors and customers.—Carl Daikeler / BODi CEO

“When DSN started, I remember thinking: ‘Finally! One place to get timely, reliable and insightful information on other direct sellers.’ Before DSN, people had to constantly scan multiple sources. It was very easy to miss company announcements and releases because so many direct sellers were private or just starting out.—David Holl / Mary Kay Chairman and former CEO

“DSN is my ‘go-to manual’ when I have questions; seek insight; look for surveys; or simply look for inspiration when I need it. I never throw away a publication, as I know I’ll need to refer to it one way or another. It helps me stay informed and current with what is going on in our channel.”—Joni Rogers-Kante / SeneGence Founder and CEO

“The community gains so much strength when we all work together, and DSN makes that happen. They are invaluable to the ongoing growth and professionalism of this industry, and I am so grateful for their work.”—Michele Gay / LimeLife by Alcone
Co-Founder & Chairwoman

“The coverage of the direct selling landscape in DSN is like no other, providing a clear and nuanced view into an industry that thrives on personal connections and innovative strategies. The articles are a testament to the precise research and commitment to detail that the team embodies, making Direct Selling News an invaluable resource for anyone involved in or interested in the dynamic world of direct sales. It’s journalism that not only informs but enriches and compliments the conversation around this unique sector of commerce.—Rolf Sorg / PM-International Founder & CEO

Building a Legacy Meant to Last

Reflecting on the past 20 years, the DSN team continues to build and plan for an even brighter future with more events, global coverage, expanding platforms and an unflinching grasp of Johnson’s original vision. The next 20 years will expand on that relevancy and commitment, providing more insights, developing broader resources and presenting more opportunities to support the executives working diligently to strengthen and scale the one-of-a-kind entrepreneurial possibilities found within the direct selling channel. 


From the January/February 2024 issue of Direct Selling News magazine.

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NYSE Grants Tupperware’s Compliance Extension Request https://www.directsellingnews.com/2023/10/11/nyse-grants-tupperwares-compliance-extension-request/?utm_source=rss&utm_medium=rss&utm_campaign=nyse-grants-tupperwares-compliance-extension-request Wed, 11 Oct 2023 16:53:33 +0000 https://www.directsellingnews.com/?p=20016 In June 2023, Tupperware Brands Corp (NYSE: TUP) received a non-compliance notice from the NYSE, which cited its inability to trade above $1 per share for 30 consecutive days. On October 3rd, Tupperware reported that it had been granted a requested extension.

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In June 2023, Tupperware Brands Corp (NYSE: TUP) received a non-compliance notice from the NYSE, which cited its inability to trade above $1 per share for 30 consecutive days. On October 3rd, Tupperware reported that it had been granted a requested extension. One week after the company confirmed the extension, TUP stock is performing well.

Per the filing: “On October 3, 2023 the Company received approval of its Extension Request from the NYSE’s Listings Operations Committee, subject to reassessment on an ongoing basis. In connection with the approval of the Extension Request, NYSE has stated that it is prepared to continue the listing of the Company at this time and will closely monitor the Company’s progress of the Delayed Filings with the milestones and timing outlined in the Extension Request. Failure to achieve these interim milestones could result in accelerated trading suspension prior to the end of six month cure period on March 31, 2024.”

This gives Tupperware an additional six months to regain compliance and reassure investors. In August 2023, the company did take a step toward this when they restructured their debt.

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Tupperware SVP and Chief Accounting Officer Resigns  https://www.directsellingnews.com/2023/09/20/tupperware-svp-and-chief-accounting-officer-resigns/?utm_source=rss&utm_medium=rss&utm_campaign=tupperware-svp-and-chief-accounting-officer-resigns Wed, 20 Sep 2023 17:54:24 +0000 https://www.directsellingnews.com/?p=19863 Tupperware Brands Corporation announced the resignation of Madeline Otero, Senior Vice President and Chief Accounting Officer.  

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Tupperware Brands Corporation announced the resignation of Madeline Otero, Senior Vice President and Chief Accounting Officer.  

In its Form 10-K filing, the company stated: “Ms. Otero’s decision to resign from the company was not due to any disagreement with the company, its management or the board of directors on any matter relating to the company’s operations, policies or practices. The company is in the process of engaging a consultant to provide coverage of the accounting function and to work closely with Ms. Otero to ensure a smooth transition of her responsibilities.” 

Otero worked at Tupperware for 23 years. Mariela Matute, Chief Financial Officer, will serve as the company’s principal accounting officer in the interim. 

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Tupperware Announces Debt Restructuring in Continued Turnaround Efforts  https://www.directsellingnews.com/2023/08/04/tupperware-announces-debt-restructuring-in-continued-turnaround-efforts/?utm_source=rss&utm_medium=rss&utm_campaign=tupperware-announces-debt-restructuring-in-continued-turnaround-efforts Fri, 04 Aug 2023 15:58:52 +0000 https://www.directsellingnews.com/?p=19602 Tupperware Brands Corporation has finalized an agreement with its lenders to restructure its existing debt obligations. This move is expected to improve the company’s overall financial state and will amend credit obligations as well as extend the maturity of strategic debt facilities.

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Tupperware Brands Corporation has finalized an agreement with its lenders to restructure its existing debt obligations. This move is expected to improve the company’s overall financial state and will amend credit obligations as well as extend the maturity of strategic debt facilities. 

Tupperware will now reduce or reallocate approximately $150 million of cash interest and fees, reduce amortization payments required through fiscal year 2025 by approximately $55 million, and will have immediate access to revolving borrowing capacity of approximately $21 million. 

“I am confident that this agreement provides us with the financial flexibility to continue executing on our near-term turnaround efforts as well as our long-term strategy to create a global omni-channel consumer brand,” said Mariela Matute, Tupperware Brands Corporation Chief Financial Officer. “We are committed to making ongoing progress in improving liquidity and strengthening our capital structure. We appreciate the support of our lenders, who share in our strategy, as we move forward.” 

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Tupperware and Vera Bradley Continue Partnership with New Floral Line  https://www.directsellingnews.com/2023/06/07/tupperware-and-vera-bradley-continue-partnership-with-new-floral-line/?utm_source=rss&utm_medium=rss&utm_campaign=tupperware-and-vera-bradley-continue-partnership-with-new-floral-line Wed, 07 Jun 2023 17:13:07 +0000 https://www.directsellingnews.com/?p=19070 Tupperware and Vera Bradley announced the continuation of their limited-edition product collaboration after the success of their 2022 collection. The new line will include food and drinkware containers featuring Vera Bradley’s Sea Air Floral and Cloud Vine Multi designs, available in a reusable ECO Water Bottle, Snack Set and Sandwich Keeper.

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Tupperware and Vera Bradley announced the continuation of their limited-edition product collaboration after the success of their 2022 collection. The new line will include food and drinkware containers featuring Vera Bradley’s Sea Air Floral and Cloud Vine Multi designs, available in a reusable ECO Water Bottle, Snack Set and Sandwich Keeper. 

“Last year’s first-ever collaboration with Vera Bradley was an incredible success, so we couldn’t be more excited to bring brand fans another limited-edition collection with a brand-new set of products and designs,” said Gregory Crossley, Tupperware Senior Director of Marketing, U.S. & Canada. “Perfect for everything from summer travels to preparing for back-to-school, our latest collaboration with Vera Bradley provides consumers with food and drinkware containers that are both beautiful and sustainable.” 

The new collections can be found through Tupperware sales channels, verabradley.com and select Vera Bradley stores in the U.S. 

“We are proud to once again partner with Tupperware, a fellow heritage brand that shares Vera Bradley’s commitment to creating high-quality products and making the world a brighter place,” said Greg Jaeger, Vera Bradley Director, Brand Marketing. “Following last year’s successful collaboration, we are excited to debut a new collection of on-the-go solutions that perfectly blend the colorful style of Vera Bradley with Tupperware’s exceptional product design.” 

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Tupperware Signs with Investment Bank to Explore Strategic Alternatives  https://www.directsellingnews.com/2023/05/08/tupperware-signs-with-investment-bank-to-explore-strategic-alternatives/?utm_source=rss&utm_medium=rss&utm_campaign=tupperware-signs-with-investment-bank-to-explore-strategic-alternatives Mon, 08 May 2023 15:08:01 +0000 https://www.directsellingnews.com/?p=18845 Tupperware Brands Corp is now working with investment bank Moelis & Co LLC to look into strategic alternatives and announced it has found additional errors in its previous financial reporting.

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Tupperware Brands Corp is now working with investment bank Moelis & Co LLC to look into strategic alternatives and announced it has found additional errors in its previous financial reporting. The company announced last month that it is uncertain it will be able to continue operating. Shares fell 6% to $1.02 in premarket trading. 

During the first quarter of 2022, the company reported $348.1 million in net sales, but announced it expects revenues for the first quarter of 2023 to fall in the range of $280 million to $290 million in what it described in a filing as a “material decline.” 

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Tupperware Brands Takes Action to Improve Capital Structure and Liquidity Position https://www.directsellingnews.com/2023/04/12/tupperware-brands-takes-action-to-improve-capital-structure-and-liquidity-position/?utm_source=rss&utm_medium=rss&utm_campaign=tupperware-brands-takes-action-to-improve-capital-structure-and-liquidity-position Wed, 12 Apr 2023 18:24:23 +0000 https://www.directsellingnews.com/?p=18639 In a statement this week, Tupperware announced “substantial doubts” about its ability to continue business operations.

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In a statement this week, Tupperware announced “substantial doubts” about its ability to continue business operations. The company is currently working to improve its capital structure and near-term liquidity, has engaged financial advisors to secure supplemental financing, and is reviewing its real estate portfolio and considering right-sizing efforts, like monetization of fixed assets, cash management and marketing and channel optimization. 

“Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position,” said Miguel Fernandez, Tupperware Brands President and Chief Executive Officer.  “The company is doing everything in its power to mitigate the impacts of recent events, and we are taking immediate action to seek additional financing and address our financial position.” 

Even amid challenges, the company is still seeing global quarterly sales exceeding $1 billion.

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Honoring Women https://www.directsellingnews.com/2023/03/07/honoring-women/?utm_source=rss&utm_medium=rss&utm_campaign=honoring-women Tue, 07 Mar 2023 22:04:16 +0000 https://www.directsellingnews.com/?p=18351 In celebration of International Women's Day we wish to honor the innovative women who have driven the growth, evolution and advancement of direct selling for well over a century. And to acknowledge the influence that all women have as decision makers.

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For well over a century, innovative women have driven the growth, evolution and advancement of direct selling.

Women like Mrs. P.F.E. Albee, Brownie Wise, Mary Kay Ash, Mary Crowley, Madame C.J. Walker plus many others recognized in this issue are shining examples of how the entrepreneurial income opportunity direct selling represents has been empowering women for over a century.

silhouette of a woman with shopping bags and a smartphone
fantom_rd/shutterstock.com

When the editorial team at Direct Selling News asked me to share my thoughts on how women have long been the catalyst to the evolution and growth of direct selling, I couldn’t wait to address this intriguing topic. As a front-line sales executive at Avon—what we called “The Company for Women” many years ago—addressing the enduring legacy so many entrepreneurial women have created is not only gratifying, it serves as a reminder of the roots and foundation of what we often refer to as direct selling inclusive of its contemporary labels.

When I first joined the team at Avon and was presented with the idea of developing a new path for the company, I became intrigued. After a few meetings, I made the decision to go big and join the largest direct selling brand ever built. Rick Goings, who later served Tupperware as CEO in excess of 25 years, was President of Avon North American at that time. Jim Preston, legendary Avon CEO, was at the helm. Susan Kropf and Andrea Jung—two outstanding corporate leaders—became very instrumental in leading the company for women in new directions. Andrea and Susan later became CEO and President, respectively. Today, I consider it a blessing to have been a part of Avon at such a special moment in time.

What became obvious to me from day one was the emphasis on Avon being the company for women. I knew the stats and facts relative to the percentage of women engaged in direct selling versus men (typically 75 percent to 25 percent, but within many direct selling companies, the percentages are more like 95 percent to 5 percent).

Trailblazers and Innovators

I had also experienced the opportunity of personally meeting industry icons like Mary Kay Ash, Mary Crowley and Jan Day. I only read about Madam C.J. Walker who built an incredible enterprise with women of color. Her story is legendary. Madame C.J. Walker’s birth name was Sarah Breedlove, but she would later adopt the name Madam C. J. Walker. She was born on December 23, 1867 on the same Louisiana delta plantation where her parents, Owen and Minerva Anderson Breedlove, had been enslaved before the end of the Civil War. This child of sharecroppers transformed herself from an uneducated farm laborer and laundress into one of the twentieth century’s most successful, self-made female entrepreneurs.

David McConnell is credited with being the founder of Avon, but it is Mrs. P.F.E. Albee who is most revered for her iconic contributions to building the company for women at a time when women did not yet have the right to vote here in the U.S.

Brownie Wise made history when Earl Tupper, inventor of Tupperware, hired her to be head of sales. Brownie insisted upon complete control and focused on the “party plan” method of sales, invented at Stanley Home Products founded by Stanley Beveridge. Origins and first use of “party plan” go back to Stanley Home Products where Brownie, Mary Kay, and Mary Crowley gained their first experiences.

Women like Mrs. P.F.E. Albee, Brownie Wise, Mary Kay Ash, Mary Crowley, Madame C.J. Walker, plus many others recognized in this issue, are shining examples of how the entrepreneurial income opportunity direct selling represents has been empowering women for over a century.

Being a part of Avon impacted my thinking and my mindset. I continue to use the expression I have repeated many times over the past 20 years: “I am grateful that Avon always found room for a few good men.” After taking early retirement from Avon and becoming Publisher and Editor in Chief at Direct Selling News, I found that corporately, the direct selling industry was dominated by men at the executive level—even though the roots of the model are women—women who became some of our country’s greatest entrepreneurs; women who were instrumental in empowering the lives of millions of other women as well as a few good men.

My previous statement does not forget or deny the incredible contributions of David McConnel, Stanley Beveridge, Rich DeVos, Jay Van Andle and others to the evolution of the direct selling model. Stan Beveridge started his direct selling career with the Fuller Brush Company which was primarily composed of men. In 1931 Stan Beveridge founded Stanley Home Products from which came many outstanding women who became legendary as a result of the party plan focus. I am simply acknowledging and recognizing the incredible contributions of women in the creation and advancement of this channel of distribution.

An Opportunity for Everyone

Today, I take great pride in the research, writing and selective advisory that I often participate in. I enjoy being an observer versus being a participant. The lens of the observer is very different. The lens of the participant is often focused solely on the health and welfare of the participant’s business, as it should be. However, an observer looks to understand the wider and broader view. Having been an avid photographer at one time, the difference between participant and observer is similar to the experience of changing from telephoto lens to wide angle. The perspective is very different.

Our world today might benefit more from the wide-angle lens. A lens which reflects on our history as well as the present and future…all at once. The wide-angle lens may, perhaps, help us to better understand the value of such contemporary topics such as Diversity, Equity and Inclusion.

There is power in questioning existing norms and disrupting accepted standards. Mrs. P.F.E. Albee challenged the assumption that men were better salespeople. Brownie Wise challenged Earl Tupper’s assumption that the best way to market Tupperware was through conventional retail stores. Mary Kay Ash and Mary Crowley challenged the assumption that women could not be entrepreneurial. Madam C.J. Walker challenged the assumption that an African American woman could not build a thriving enterprise composed solely of women of color.

The women who follow in the footsteps of these women are also challenging assumptions about what direct selling looks like and how it moves forward. Our future as a channel of distribution may be very different than the past. However, an unwavering passion to empower women may be our “secret sauce.”


John T. Fleming is the author of Ultimate Gig: Flexibility, Freedom & Rewards which provides an in-depth glimpse of the future of work and how the gig economy has fueled the growth and appeal of flexible work opportunities. John is principal of Ideas and Design Group, LLC and in both the DSA Hall of Fame and DSEF Circle of Honor. John is also a recipient of the DSN Bravo Lifetime Achievement Award. John has recently released LEVERAGE.

From the March 2023 issue of Direct Selling News magazine.

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Tupperware Net Sales See 18% Decline in 2022  https://www.directsellingnews.com/2023/03/01/tupperware-net-sales-see-18-decline-in-2022/?utm_source=rss&utm_medium=rss&utm_campaign=tupperware-net-sales-see-18-decline-in-2022 Wed, 01 Mar 2023 16:21:01 +0000 https://www.directsellingnews.com/?p=18312 Tupperware Brands Corporation reported net sales of $313.7 million in the fourth quarter of 2022, a decrease of 20% year over year.

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Tupperware Brands Corporation reported net sales of $313.7 million in the fourth quarter of 2022, a decrease of 20% year over year. Gross profit during the quarter was $196.5 million, with loss from operations reaching $35.2 million. Adjusted EBITDA during this quarter was $24.4 million. 

For the full year 2022, Tupperware net sales were $1.3 billion, an 18% decrease from 2021 net sales, with a gross profit of $836.4 million. Adjusted EBITDA for the year was $124 million. 

“Twenty twenty-two was a true test of our resolve to turn around this company and expand consumer access to our iconic brand in markets all around the world,” said Miguel Fernandez, Tupperware Brands President and Chief Executive Officer. “We entered the year optimistic about our progress in improving our business economics and executing on our growth plans. Events did not unfold in our favor, so we reacted quickly to the challenges. Importantly, we remained unwavering in our pursuit of building a broader Tupperware ecosystem in which to reach consumers eager to interact with our products. In the US, our first major retail expansion effort exceeded our expectations. We have now pivoted towards a new post-pandemic phase where we believe our core direct selling business will benefit from the return to in-person events, focusing on recruiting and training our next generation of business builders, and where those markets utilizing our studio model, particularly China, are able to benefit from more consumer traffic.” 

The company ended the year with $705.4 million in debt, a slight improvement from $709.4 million at the end of 2021. The company also entered into a Third Amendment of its Credit Agreement which will allow for additional relief and financial flexibility. 

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Tupperware 3-Year Partnership with National Park Foundation Diverts 10 Million Plastic Bottles from Landfills  https://www.directsellingnews.com/2022/12/26/tupperware-3-year-partnership-with-national-park-foundation-diverts-10-million-plastic-bottles-from-landfills/?utm_source=rss&utm_medium=rss&utm_campaign=tupperware-3-year-partnership-with-national-park-foundation-diverts-10-million-plastic-bottles-from-landfills Mon, 26 Dec 2022 18:14:00 +0000 https://www.directsellingnews.com/?p=17874 Tupperware’s pledge to the foundation has helped reduce single-use plastic waste, develop recycling and composting infrastructure and install 44 water bottle refill stations across seven parks.

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Tupperware, through its nonprofit organization Tupperware Brands Foundation, announced the results of its three-year partnership with the National Park Foundation. To date, Tupperware’s pledge to the foundation has helped reduce single-use plastic waste, develop recycling and composting infrastructure and install 44 water bottle refill stations across seven parks. These efforts have helped divert 10 million single-use plastic bottles from landfills each year. 

This year’s funding will help install 26 additional water bottle refill stations in 2023, which is expected to divert another one million single-use plastic bottles from landfills. 

“We value our partnership with the National Park Foundation tremendously, and it’s incredible to see the tangible results thus far of our collective efforts to enable a more sustainable experience for current and future park-goers, and just as importantly, our planet and these beautiful, treasured spaces–the national parks,” said Miguel Fernandez, President and Chief Executive Officer of Tupperware Brands. “Since 1946, Tupperware has been synonymous with minimizing waste before it begins, starting with our iconic yet quality, durable, and reusable products. We are committed to our purpose of nurturing a better future every day, for people, communities, and the environment. Our partnership with the National Park Foundation serves as a key component to delivering on that commitment.” 

The post Tupperware 3-Year Partnership with National Park Foundation Diverts 10 Million Plastic Bottles from Landfills  first appeared on Direct Selling News.

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