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CEO: "We need the world to know what we're doing."

Tupperware's turnaround plan: Ecommerce, price competition & sustainability

Miguel Fernandez - CEO, Tupperware Brands Corporation

Leadership

Tupperware's plan: Ecommerce, affordability & sustainability

Miguel thank you so much for joining us to talk about tupperware. Well it goes without saying that everyone knows tupperware and its famous plastic containers, but you've been changing things up since you became Ceo a year and a half ago. What do you want, Tupperware to be? What's your vision? Indeed. A topper was a big, big name. And the way I put it in one sentence is that the top of the brand is bigger than our business and what we're trying to do is just to grow the business just as much as the brand. And we believe that there's one factor why we haven't grown as much as as we would like to and that's because consumers don't have access to the products we have dedicated ourselves to only 11 channel and that's a direct selling channel. And in a way the world evolved into many different, you know, different ways, technology, you know, convenience and so on and we haven't uh so my job here is, is just to accelerate those efforts in tupperware and get all those great products, great innovation in the hands of more consumers because we know there's a appetite for them all over the world? Well, you took charge right at the beginning of the covid pandemic. How does the pandemic influence the decisions you made about which tupperware products consumers want and don't want, what we saw around the world was shift in behavior in human behavior instead of going outside every single day and and going through their normal routine in school or work or whatever. We saw obviously a lot of people staying at home and that created different habits around cooking and about, you know, obviously having leftovers and so on. So we saw a huge searching all the demand of our products on the food container. Well, we do know that reusable plastic containers are still very popular with consumers, but there are so many in the marketplace, whether you're talking about Rubbermaid or Glad or all the products that you can get on amazon, they're inexpensive, they're available everywhere. How does tupperware compete with that? So the biggest thing is that we we pride ourselves to be the, you know, the best products and there's plenty of stories around generations and generations that our products have been passed, you know, from one causing to another one daughter to you know, mom to daughter, you know, all these families, so so that we always go to market with the highest quality uh there's a couple of challenges that we are still trying to resolve one of the product access. And in some cases we're not a surprise competitive in all marketplaces. Those are two things that we are, you know, actively trying to resolve as we speak. You talked about access a few moments ago and we remember chopper where being very famous for those tupperware house parties and I understand now your salespeople are doing zoom parties, but tell us what else tupperware is doing to get the attention of consumers and making it easier for them to buy your products. So we're activating pretty much the sales force in different directions. Some people were actually trying to create a topper for everyone. If some people want to have their own online store, we're going to support it. We're supporting them with that. So they have their website, they can send their links and even coupons and so on. So you would come and you wouldn't tell that you're actually in my store, but you're you're going to have a perfect e commerce experience even in some part of the of the world, if you want to set up your retail outlet or your store, we are giving you guidelines of how to how to manage a proper retail environment Miguel, I understand that one of your other priorities is social responsibility and you've been aggressive and intentional about tupperware selling environmentally friendly sustainable product. Tell us how you're going about that because you might imagine this is an area that were highly passionate about Uh because that's our heritage, that's what we've been doing for the 1st 75 years, uh bringing environmentally friendly products into the market. But we understand that we need uh the world to know what we're doing and and pretty much criminal over and what we're specifically doing the US is that we partnered up with the National Park Foundation, we're donating for water fountains and people can purchase a process in there and they can just refill the bottle of water so many times or as many times as they are in there. Just as the one that we are doing in the US with the National Park Foundation. We're actively looking for someone to put it up in brazil for the amazons and if many, many keep forests and parks around the world in Germany and so on. So, so it's it's one part of that that we thought that it was missing. Our whole strategy is how we were telling it to the world and how visible we're going to be in front of consumers. There's a little bit the stigma between plastic and sustainability and so on. So this is a little bit of education that we need to continue to do with the consumers. But is there anything else you can do to eliminate single use plastic containers? Absolutely. You know, the way the way we appear saved as a plastic company. But there's a plan, we have to educate the consumer between the plastics and And there's differences between all these plastics depending on the rest in that you're using, we, we will be launching the next 12-18 months, this new line of uh, of products called Top Our Planet. And as you can see it's going to come up with, you know, similar products or similar categories, but made out of different resins that are as friendly as it gets with environment. This is going to be the best one that, you know, any company would have, it might be a little more expensive than the other ones. But this is our true innovation speaking for the environment and we're going to continue to scream more and more and more corners of the world around what we stand up for. And we're all about as you well know, there are so many more ceos who really believe that they have to do more to address social problems as part of their core business strategy. But do you think is happening fast enough? What else has to be done? So I believe it's catching up, I think it's X accelerating. And the reason why I believe that is because all of us as a group, you know, Ceo shareholders and all the stakeholders around the corporations are understanding that to drive sustainable profit, sustainable growth. We need to take into account absolutely every single stakeholder of our company and that includes the environment and the social elements. Uh, and now it's not a burden now is how you go, how you win. And it's it's key for us. And it starts all the way from our shareholders. We are getting more feedback from the top shareholders around most of the companies. That that is important is going to be part of the compensation of the top executives around around the world and run other corporations and that is gonna even accelerate all efforts. Even more

Everyone talks about leadership. It's a hot topic whether it's about business in Washington, in sports. What do you see as the best qualities of what makes a great leader? It's gotta start with character. Right at the core. And because that gets modeled in the way you behave. I don't think there's another single important ingredient [ INAUDIBLE ] In character. At Tupperware, you talk a lot about empowering women, which I guess is another way of saying that you're grooming new leaders, the next generation. How do you take a regular person and turn them into a leader? I've studied a lot of Eastern philosophy in most of my adult life and the whole concept, particularly in Buddhism ,. Is the purpose of life is to reach your highest potential. And that's what you spend your life doing. And if you go in, working with people with the attitude that there are sleeping giants inside people, and you try to create the operating landscape. That lets that music out that's the big starting point of all. Can you identify who is gonna be a leader? Like, when you're hiring someone, is there a telltale sign that this person is the leader or has the potential to become one? No and I would, certainly wish I could. You know, somebody once did a, a consulting project for. In my early days, big company I was with, and they were saying, we're gonna show you a testing you can do to show you who's gonna be great, and who's gonna be kind of average. And they came out with this contract kind of scoring. It was a complete failure because what it never could do was get into somebody's heart. You know the, the whole workplace has changed so dramatically over the years. So do you think our definition of what makes a great leader has also changed? Oh certainly it is. My early years there were, there was the Herald. [ UNKNOWN ] Concept of managed by the numbers. Now and, almost no focus, on people. Now it is that it may look softer, but all a company ever is, is a collection of people. And whatever products we create in the, in, in the future. Where we've changed totally. That's a result of we have engaged and empowered people, you take us where you think we need to go. When we talk about leadership lessons, what's the best advice you've ever gotten? It started out in the early days for me. When I came from a family that were, you know, second generation immigrants, didnt have much had to do with money. And what it, what he said to me he was a business school professor. He said Rick, the only money you're ever gonna be worth is the money you have if you don't work. So what that meant to me was hm, keep your lifestyle in check, try to create as much passive income as you can from the work you're doing. And then beyond that it was find something where's it's a cause. Those two things together have really. You know, nourish my life and the important thing is, I pass that on so often

Rick Goings, CEO of Tupperware, tells Fortune’s Susie Gharib what makes for an effective leader.

How Buddhism inspires one CEO

Rick Goings, CEO of Tupperware, explains.

Let's talk a little bit about the American consumer. What are you finding that is the consumer mood? Their willingness to spend right now. Well I'm seeing more confidence with the US Consumer to really win. In this market you've got to win with millenials. And what they look for. They'll pay for quality. You see how much money is spent on iPhones and iPads etcetera. They'll pay for quality but you better be able to differentiate yourself. Do you find, you talk about consumer confidence that these lower gas prices that we've been seeing is making a difference on their willingness to open up their wallets? Ya- yeah, but it's short term. I- I- I think, as I talk to more consumers here and sales force members in the US, and I see it outside the US as, as well, they think this gas prices today is temporary, and it will go back. They don't trust. What caused it? Yes, we've had all the new production here in the US. I don't get long term confidence that it's a sustainable low level for people. So we'll wait and see.

Tupperware’s CEO Rick Goings sits down with Fortune's Susie Gharib to discuss consumer confidence and what attracts millennials to certain products.

What do Americans want to spend their money on?

Tupperware’s CEO on what attracts millennials to buy.

Tupperware is such a American household name, and yet a lot of people don't know that most of your business is outside of the United States, so tell us, how is your business doing around the world? Our business here does double- digit growth. That's nice, but the future of the populations are out there, so we're doing well. Western Europe is challenging. And because they're, the economies are not growing. You know the challenges, recently, with the bank. Right. Greek banking crisis. And that influences people's confidence. However, we've found ways, and have levers to navigate through it. Our French business, for example. As many problems as France has had. In the past ten years we've doubled the size of our French business because more women, millennials, want to be entrepreneurs. So feel good about that. Eastern Europe, big entrepreneurial spirit. Latin America, a lot of growth for us in Lat -, double digit growth for us in Latin America this. Group that wants to be you know middle class, they're really, we, we really, are something that attracts that. Asia Pacific, you know if I take you through China, India, Indonesia 40 % of the world's population. A lot of people now are starting to, companies turn their attention there. We've had beach heads in those markets for 15 years. What about the strong dollar. That's got to be difficult for you given your global footprint. Is there any way you can limit the impact of that on your bottom line? We try to run our businesses in local currencies and, you know, I, I look at it, Susie, over time that there'll be certain years that it's up $ 0. 50 or $ 0. 60 and you know, then down $ 1. 50 in a particular year but over time it usually kind of, put some calls on it.

CEO Rick Goings sits down with Fortune's Susie Gharib to discuss the home product company's success abroad.

Behind Tupperware's international success

CEO on the home product company's success abroad.

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