French entrepreneur Cédric Meston has taken full ownership of Tupperware France, aiming to revive the brand after its bankruptcy in September 2024. Meston plans to renegotiate distribution licenses across five European countries and achieve €100 million in revenue by year-end. He intends to revitalize sales through innovative channels, including retail and social media, while expanding the product range beyond traditional plastic containers to include stainless steel and glass items.
The ambitious endeavor to revive and invigorate the Tupperware brand across five European nations has been unveiled by French entrepreneur Cédric Meston. This announcement comes just months after the American company, renowned for its iconic plastic food storage solutions, faced bankruptcy.
Tupperware, a hallmark of direct sales, succumbed to financial turmoil and officially filed for bankruptcy in September 2024. The company struggled against fierce competition from low-cost alternatives and the burgeoning meal delivery trend, while also grappling with consumers’ growing concerns over plastic usage.
However, a month post-bankruptcy, Tupperware reached an agreement with its creditors, pledging to transfer essential intellectual property for promoting and marketing the Tupperware brand. The deal also involved selling specific assets in the U.S. and other international subsidiaries, though details were scant.
Consequently, Tupperware France, which is predominantly owned by Tupperware Belgium, entered into safeguard proceedings to protect its operations.
At a press conference in Paris on Tuesday, Cédric Meston revealed that he has successfully acquired 100% ownership of Tupperware France from a Belgian firm, with approval from Belgian authorities received just last week.
“We now possess a safeguarded company and will present a business continuity plan to the commercial court in Nanterre in the upcoming weeks. Our aim is to exit these proceedings by June,” explained Meston, who is also a co-founder of plant-based meat substitute brand HappyVore.
In addition, Meston is currently in discussions to renegotiate operating and distribution licenses for Tupperware products in France, Italy, Spain, Belgium, and Poland. These licenses had been suspended in January due to the parent company’s financial issues.
“It’s just a matter of hours or days before we obtain this approval,” he stated, though he refrained from disclosing specific figures related to the licenses or the acquisition of Tupperware France.
Meston aims for Tupperware France’s current management to hold a 50% stake in the company, with a target of achieving 100 million euros in revenue by the end of the year across all five markets.
Revitalizing the Brand with Culinary Advisors
In 2021, revenue from these five European nations peaked at 400 million euros, but plummeted to just 70 or 80 million euros in recent months, Meston outlined.
Currently, approximately 20,000 ‘culinary advisors’—the backbone of Tupperware’s independent sales network—are active in France, Italy, Spain, Belgium, and Poland. These advisors are known for hosting the famed ‘Tupperware parties’ at home.
Meston intends to ‘buy back as much stock as possible to swiftly relaunch the business’, but he emphasizes that this venture is about more than just reestablishing a brand: “We will accelerate our progress and energize it with innovative sales channels,” he asserted, mentioning plans to expand into large retail distribution and leverage social media influencers for promotion.
“Historically, direct sales accounted for at least 80% of our revenue,” noted Geoffroy Destexhe, Tupperware France’s commercial director. “However, in the long term, we envision a shift to 50% from our sales force, 25% through retail, and 25% from e-commerce. Tupperware will continue to position itself as a premium brand,” Meston added.
In addition to its well-known plastic containers, the strategy also involves showcasing a broader product range, including resealable items made from stainless steel or glass, kitchen utensils, large insulated tumblers, and mini mechanical choppers, according to Tupperware France’s new owner.