New York (CNN Business) Tucked away on a street in New York's trendy SoHo neighborhood, a throng of bubbly influencers giggled and posed for selfies. A DJ played pulsating music amid a sea of neon lights and colorful walls that were expertly curated for Instagram. And, of course, there was alcohol and hors d'oeuvres were passed around.

Tupperware TUP The scene is typical for any party or new store opening, but the event wasn't to celebrate a buzzy startup. Instead, it was for, the stodgy 73-year-old plastic container maker that has fallen on hard times.

Shares are down more than 70% this year. Tupperware is operating without a leader because its most recent CEO, Tricia Stitzel, left the company last month after less than two years in charge. It has reported a string of dismal earnings this year that missed expectations, partially because of the global trade war, a strong US dollar and customers seeking out cheaper alternatives.

The interior of TuppSoho includes a plant-like wall

The model of relying on direct sales for buying Tupperware has also hampered growth. Although it's not eliminating the cultural staple, the brand hopes the new pop-up store, called TuppSoho , and a relaunched website will help turn it around.

"We've been relevant for 70 years, but we haven't connected to all of our consumers, and this is a great step in the right direction of accessing more people," Tupperware's chief financial officer Sandra Harris told CNN Business at a press event Tuesday.

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