As its business strategy evolves, as part of the Turnaround Plan, Tupperware is focused on accelerating modernization in two areas.
Overall, the company continues to execute its three-year Restructuring Plan with progress including liquidity improvements and capital structure strengthening through the sale of non-core assets; the restructuring and refinancing of its debt; and the use of authorized share repurchases.
First and foremost, Tupperware is enhancing the core business of direct sales, introducing a data-driven approach to marketing, communication and sales force recruitment, and introducing new digital tools and training to do business more efficiently.
The company works on an approach to personalize the customer experience based on consumer behaviors and has defined two distinct groups within its sales force: those who want to build a business or career with the company (the “Customer Builders” businesses”) and those who want access to discounted or exclusive products (the “Preferred Buyers”).
The future approach to communications, service, support and marketing will be tailored with these segmented audiences in mind.
Second, the company is focusing on business expansion opportunities, shifting from a business model that relies solely on the direct sales channel to drive consumer demand, to a business model that creates a natural “push and pull” to the brand to promote all channels where the company’s products are available.
This includes expanding into more product categories where the Tupperware brand is in demand and creating more access points for consumers to purchase the company’s products, both in person and online.
The company’s efforts are underway to create a personalized consumer product and pricing strategy intended to reach and address the needs of all consumer socioeconomic levels, while exploring alternative revenue streams for incremental opportunities. business-to-business and new licensing opportunities to leverage the value of its iconic brand.
This strategy is designed to build additional brand awareness and create new leads for the company’s independent sales force and increase revenue from channels and consumers that the Tupperware brand does not reach today.