Just three years ago, US-based company, Tupperware, enjoyed an unusual surge in those shut-in at home from the pandemic. Since then, the company has failed to elevate, resulting in its stock plummeting 70% from the beginning of the year and 50% since the surge in 2019. Recently, Tupperware announced it is looking to regain its financial footing, fearing it could go out of business. Experts say it has failed to connect with new customers and has fallen short in sharpening its brand purpose and innovation. It also faces more competition from Ziplock, Rubbermaid, and Amazon.
AdAge reporter, Erika Wheless, picked up the story and asked North America’s Chief Growth Officer, Meghan Labot, to comment on how legacy brands can stay relevant with the key Gen Z consumers.
“This is a challenge we see a lot. Brands who have long legacies might be established in the minds of consumers, but over time, they have to work to stay relevant. Tupperware has an element of nostalgia. How can they reframe that to be relevant to today?”
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