Quarterlytics / Consumer Cyclical / Packaging & Containers / Tupperware Brands

Tupperware Brands

tup · NYSE Consumer Cyclical
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Ticker tup
Exchange NYSE
Sector Consumer Cyclical
Industry Packaging & Containers
Employees 10,000+
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FY2009 Annual Report · Tupperware Brands
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Rick Goings
Chairman & Chief Executive Officer

Dear Shareholders,

As we look back over the last decade, we can be proud of our strategic
efforts that have transformed Tupperware Brands into a stronger and
more  dynamic  company.  We’ve  contemporized  our  core,  including
products, selling methods and sales force compensation structures.
We sell in more than two dozen emerging markets, and many of them
are now at scale. Most recently we’ve successfully expanded into direct
sales of beauty products. Importantly, we believe our business model
will provide sustainable performance. 

In 2009, our emerging markets comprised 51% of our sales and grew
14%  in  local  currency  as  compared  with  2008.  We  had  great
successes in many of these markets, such as Indonesia where we
almost doubled the business last year, as well as Tupperware Brazil,
Mexico,  Russia  and  South  Africa.  We  had  notable  increases  in  a
growing number of established markets as well. We generate strong
cash flows, have continued to reduce our debt levels, and have a strong
and improving return on sales. We raised our dividend for the first time
in our history and accelerated our share repurchases because we have
confidence in the future and confidence in our ability to continue to
grow sales and generate cash. 

Confidence in our Company
Our strong management teams have many years of experience in direct
selling and know how to navigate challenging external environments.
As we advance into the next decade we will continue to focus on our
three main competitive strengths:
• Developing innovative and relevant products that consumers want to

buy and our sales force is eager to sell.

• Creating selling situations that are entertaining and informative for
consumers and profitable for our sales force as they demonstrate the
features and benefits of our products.

• Refining and promoting compelling career opportunities that enable

us to attract a dynamic sales force.

Confidence in our Brands
Confidence is what drives people to our brands. We are passionate
about the quality and integrity of our products. Tupperware Brands
Corporation  was  recently  named  one  of  Fortune’s “World’s  Most
Admired Companies” for the third year in a row. We were awarded one
of the highest distinctions in the realm of design: the 2009 “red dot
design  team  of  the  year”  in  one  of  the  world’s  leading  and  largest
design  competitions.  Tupperware  Brands  was  named  as  one  of
“America’s  Best  Big  Companies”  by  Forbes.com.  We  were  named
“Superbrand of the Year” in India, and in Russia we were awarded the
country’s coveted “Product of the Year” for trendy design and function
in modern kitchenware. 

Confidence in our Sales Force
Self confidence is the memory of past success. For over 60 years, we
have  made  an  unwavering  commitment  to  Enlighten,  Educate  and
Empower  women  and  their  families  across  the  globe,  creating
invaluable  connections  that  last  a  lifetime.  Tupperware  Brands  is
passionate about changing lives and instilling confidence in every one
of  our  sales  force  members.  We  support  them  with  strong  training
programs  and  attractive  career  opportunities  to  help  them  achieve
personal  and  professional  success.  As  they  help  others  in  the
organization achieve success, they gain confidence in their leadership
skills.  Our  Chain  of  Confidence campaign  celebrates  the  powerful
bonds  of  friendship  that  connect  women  together  and  significantly
shape  who  they  are  and  who  they  have  the  potential  to  become.

Confidence in our Future
We are pleased to see that all the work that has been done this past
decade is producing results. Management’s job #1 is the sustainability
of the enterprise. Supporting that is our solid and adaptable business
model, our well respected brands, and most importantly, the quality of
our management and sales teams across the globe. 

We will continue to work towards focusing our resources on growth,
lower debt levels and improved profitability. We believe that companies
like Tupperware Brands with platforms in multiple markets, in multiple
currencies and with a footprint that includes businesses in emerging
and established economies will be in an advantageous position in the
next decade.

EMERGING AND ESTABLISHED MARKETS

Established 49% of 2009 Sales

Emerging 51% of 2009 Sales

GREATER GEOGRAPHIC DIVERSITY

1999 Sales

2009 Sales

US & Canada 
18%

Europe, Africa &
Middle East 
46%

US & Canada 
15%

Europe, Africa &
Middle East 
36%

Latin America* 
13%

Latin America* 
26%

Asia Pacific 
23%

*Includes Mexico and South America

Asia Pacific 
23%

COMPETITIVE STRENGTHS

STRATEGIC PLATFORMS FOR GROWTH

• Developing Innovative and

Relevant Products

• Creating Entertaining and

Informative Selling Situations

• Refining and Promoting

Compelling Career Opportunities

• Extensive Direct Selling

Experience of Management

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Keep focus on
 “Crown Jewels”

Fix under 
Performers

Penetrate Key 
Emerging Markets

Accelerate Growth in 
Latin America

MOBILIZE!

Drive Leadership 
Development

Sales Management 
Development

Strengthen 
Marketing Mix

Fast Forward Supply 
Chain Optimization

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