Originally reported by the Wall Street Journal:
Rick Goings, the chairman and chief executive of Tupperware Brands Corp. is spearheading a transformation at the American company known for its colorful food-storage containers.
The company, founded in 1939 by inventor Earl Tupper, is headquartered in Orlando but gets 60% of its revenue from emerging markets. Tupperware expects this percentage to rise to 80% in five years.
Rick Goings, chairman and chief executive officer of Tupperware Brands Corp. Tupperware Brands Corp.
Its largest market is Indonesia, a country where it’s been challenging for many retailers to expand because of poor transportation networks and stiff competition for retail space. Tupperware has found success in the world’s fourth-largest economy because its salespeople sell salad bowls and mini food processors to family and friends at home, often transporting the products by scooter or bus.
Globally, Tupperware’s sales force of 2.9 million is still largely made up of stay-at-home moms who hold Tupperware parties to supplement the family’s income. Yet increasingly, men are also throwing Tupperware parties.
Mr. Goings, 68, talked to The Wall Street Journal about how the 75-year-old company is adapting to a changing business model. Edited excerpts:
WSJ: Do people still have Tupperware parties?
Mr. Goings: Yes. But these kinds of products have been commoditized greatly in
Monthly Archives: July 2014
Hot Business News Today
It Works! Enjoys Over A 1000% Growth In 3 Years
by Tina Williams • • 0 Comments
Earlier this year, It Works! ranked No. 27 of the world’s top 100 direct sales companies on the DSN Global 100.
CEO Mark B. Pentecost set the goal to make the DSN Global 100 list in late 2011.
“I’ll never forget that day near the end of 2011 when I met with members of our team—both corporate and in the field—and we made one decision that will forever be a milestone in our company history,” said Pentecost. “We had one message from the top down, and we worked hard to stay focused. That is how we continued to see phenomenal growth.”
Other companies recognized as part of the $100 Million Growth Club are based in the United States, Germany, Japan and the United Kingdom. This is the first time the DSN has recognized companies for their growth of $100 million in one year.
It Works! first made the DSN Global list in 2013 at No. 56 for its 2012 revenue of $200 million. The company’s revenue was $456 million in 2013, and it’s on track to become a billion dollar brand for over $1 billion in cumulative sales since inception in 2014.
The Global 100 is the Direct Selling Association’s annual list that ranks the top revenue-generating direct selling companies in the world.
Founded in 2001, It Works! is one of the fastest-growing
Hot Business News Today
Negotiations move forward as NY rail strike looms
by Successful IBO • • 0 Comments
The chief negotiator for unions at the nation’s largest commuter railroad is vowing to keep working toward a deal that would avoid a strike.
Hot Business News Today
ACN Grows By More Than $100 Million In A Single Year!
by Nicole Dunkley • • 0 Comments
While working on its annual Global 100 list which recognizes the top 100 direct selling companies in the world, Direct Selling News, the direct selling industry’s premier publication, discovered that ACN Inc., along with only a handful of other companies, grew by over $100 million in a single year.
In fact ACN grew by an incredible $118 million, going from $582 million in revenue in 2012 to $700 million in 2013 – making ACN the 20th largest direct selling company worldwide.
Direct Selling News explains that “very few companies in any industry ever achieve a growth of $100 million or more, much less in a single year,” making this an incredibly rare achievement.
They further stated that, “Not only have they achieved and exceeded a mark that less than one-half of 1 percent ever reach, they have duplicated that effort in a one-year time frame!”
Direct Selling News also noted that ACN, along with the other companies who reached this milestone, share 5 practices that help the company to be successful:
1. Tremendous focus on our brand and product
2. Utilizing tools for our salesforce
3. Investing in customer acquisition
4. Emphasizing personal development in our culture
5. Focusing on developing strong leaders
Hot Business News Today
Youngevity Expands Charitable Giving Initiative
by Nicole Dunkley • • 0 Comments
Youngevity International Inc. (OTCQX: YGYI) announces the expansion of its charitable giving program with the addition of My Story Matters to its list of causes and charities.
My Story Matters, a 501(c)(3) non-profit organization, creates storybooks which help lift a child’s self-esteem, give individuals courage to face difficult situations, and/or tell stories that uplift and encourage individuals to be better.
The Foundation was established in September of 2013 by its parent company, Youngevity International, Inc., following Gandhi’s inspiring words, “You must Be the Change you wish to see in the world”.
Lisa “Sunshine” Briskie, the Director of Youngevity Be the Change Foundation, who donates her time to the organization, said:
“Our family of distributors, customers, and employees come together as a family in many ways to provide help where it is needed. We are being the change in the many communities in which we live.
Whether through the purchase of a Be The Change Product (100% of the profits generated by the purchase of these products are donated directly to the Foundation), participating in a Random Act Of Kindness Day (R.A.K), getting involved in our running clubs to raise awareness for our charities, or coming to the aid of a community hit hard by tragedy,
Hot Business News Today
Morinda Reaches Major Milestone
by Nicole Dunkley • • 0 Comments
In honor of Morinda’s 18th anniversary, let’s take a look back at what the company has accomplished since forming in 1996.
In July of 1996, Morinda (Tahitian Noni Juice) was officially formed by John Wadsworth, Stephen Story, Kelly Olsen, Kim Asay and Kerry Asay.
Since then, the world has continued to take notice of what Morinda has done since then.
In fact, here are some of the amazing things the company has accomplished since starting 18 years ago:
Morinda experienced a 300 percent growth in revenue in its first five years of operations and continues to grow each year. In fact, Morinda has been recognized as the fourth fastest-growing company in modern history (behind Google, Intel, and Federal Express).
Morinda was the first company to harvest, source, and distribute a noni-based product to the consumer market.
Morinda has contributed more than $141 million dollars to the economy of Tahiti, and was the recipient of the Corporate & Social Responsibility Award from the country of Tahiti at the United Nations Headquarters.
Morinda is now in more than 70 countries worldwide, and currently employs more than 3,000 individuals at its corporate offices around the world.
Morinda has paid out nearly $3 billion in commissions, distributing paychecks to more
Hot Business News Today
Teen's 3D-Printed Coaster Becomes a Business Plan
by Successful IBO • • 0 Comments
Today’s American Success Salute goes to an entrepreneurial teen — a millennial — who doesn’t plan on coasting through life.
Hot Business News Today
Funding Circle Raises $65M to Take on Lending Club
by Successful IBO • • 0 Comments
Peer-to-peer lender Funding Circle has raised $65 million in capital in a Series D funding round led by Index Ventures, bringing the company’s total funding to $123 million.
Hot Business News Today
Top Industry Leader, Tim Baca, Joins LyfeStart
by Tina Williams • • 0 Comments
LyfeStart International welcomes Tim Baca as a LyfeStart Executive Advisor and Founding Member of The LyfeStart Advisory Board, The LAB.
Passionate about the importance of making a difference in the world, his career in direct sales is a natural extension of his former career as a broadcast journalist.
He says, “LyfeStart is founded on the idea of helping people. It’s at the heart of everything we do, from the mission to end obesity and hunger to the opportunity for business and financial growth. Through LyfeStart, I can help more people achieve their goals. My wife Julie is reaching out to Millennials who are discovering the power of our mission, while starting their own
business at the same time. That’s very exciting.”
Baca cites the importance of LyfeStart’s sound business fundamentals: “the quality and affordability of the products, their outreach to the Hispanic community, and the upcoming launch in Mexico are key,” he says. “One of the first things I noticed was the Spanish on the U.S. product labels. A large part of my organization is in the southwest, so LyfeStart’s bicultural appeal makes a big difference.”
Baca enjoys the opportunity to help create the culture at LyfeStart. “It starts with the openness of the Founders, LyfeStart CEO Christopher Pair Garza, former CEO and President of Herbalife, and
Hot Business News Today
ViSalus Selected As Official Nutrition And Wellness Sponsor Of American Youth Football & Cheer
by Tina Williams • • 0 Comments
ViSalus, Inc., the company behind the #1 90-Day weight-loss and fitness challenge platform in North America, was selected the Official Nutrition and Wellness Sponsor of American Youth Football & Cheer, Inc. (AYF). Vi 1-Star Ambassador Vanessa Wilhelm (with spouse and former NFL player Matt Wilhelm) and Vi National Director Claudia Lugoindependently ignited ViSalus’ involvement in AYF.
AYF is a 501(c)(3) non-profit corporation benefiting children who enjoy football or cheer. AYF is open to all children, despite financial challenges, and emphasizes self-confidence, teamwork, self-discipline, community involvement and other positive traits designed to help each child succeed. With the common goal of creating a better overall future, AYF and ViSalus is a natural connection for a partnership.
This partnership was developed after AYF “team mom,” Claudia, was introduced to ViSalus through the Wilhelms and experienced the positive benefits of a healthier lifestyle. Together, they saw the ability to utilize ViSalus’ initiatives to benefit AYF programs in ways that educate and provide healthy options for children, as well as, providing a fundraising opportunity. Rather than selling magazine subscriptions or candy bars, this year AYF is using their fundraising efforts to create awareness around health and nutrition.
AYF athletes will raise funds while challenging others to set and achieve personal health goals using