A 1950s Tupperware Party….A Tupperware Display
A common saying in Vistage groups is that the second worst thing that can happen to a company is success…because success can be seductive. Once achieved, leaders may convince themselves that it’s like a rock; more or less permanent. A better metaphor is ice; solid but slippery if you’re not careful and will surely melt in the heat of competition created by demographics, new technology or innovation by competitors.
To wit: the announcement this week that iconic Tupperware was filing for Chapter 11 Reorganization. A year ago, I featured an article on Tupperware that traced the innovations that created an extraordinarily successful business, not only in terms of product but in distribution. Chemist Earl Tupper created the product, but it was a shrewd marketer in the person of Brownie Wise who created the famous “Tupperware Parties” that ultimately drove the company’s success.
Sadly, it’s not a lack of opportunity besieging the company. The article points out that “Overall, sales for food storage supplies are up 18% compared to before the pandemic, according to figures from market research firm Circana. But despite that growth – and the ongoing popularity of food storage videos on social media – the troubles for Tupperware remained….Shares for the company have fallen 75% this year.”
In that post, I also mentioned that Tupperware was struggling. This week, the final chapter in the Tupper story may be opening with the Chapter 11 filing. If you want a refresher on how Tupperware became successful here’s the article I shared back in May 2023. An analysis from the AP website shares an overview (video and article) of what may have brought the company down.
Very few companies last forever….unless someone REALLY wants them to… all the time.
