Brandless is shutting down and refusing new orders - Business Insider

SoftBank-backed Brandless, which sold private-label household essentials for $3 each, is shutting down.

"Brandless set a new standard in the wellness and sustainable products industry, and while we weren't able to compete competitively in today's DTC market, I'm confident the next great brands of tomorrow will be built from this experience," Brandless CEO Evan Price said in a statement to Business Insider.The San Francisco-based company has stopped taking all new orders and plans to lay off 70 people, or about 90% of its staff, as it winds down operations.

The company's remaining 10 employees will work to fulfill its last customer orders and consider acquisition offers, according to"I'm proud of what we created at Brandless and the hard work and dedication of everyone on the team," Brandless CEO Evan Price said in a statement to Business Insider.

Brandless launched in 2017 selling private-label household and personal care products at low prices. When it launched, almost everything on its site was $3.Uber, Slack, WeWork, Wag, Zume, and more — had invested $240 million in the company at a valuation of more than $500 million.it was looking to start selling its products in major retailers' physical stores, signaling a shift in its online-only business model.

I'm not at all surprised. I was a regular customer, buying a sizable amount of mostly grocery items every month. All of a sudden they began phasing out most of the products I was interested in. I completely stopped shopping there in October.

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