SoftBank-Backed Brandless Shutters Less Than 2 Years After Investment
Brandless pop-up in Los Angeles in 2018.
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Brandless Inc., a direct-to-consumer personal care and packaged goods company, is closing down. Brandless will stop taking orders and cut about 70 employees, less than two years after SoftBank Group Corp.’s Vision Fund said it would invest $240 million in the startup.
“I’m proud of what we created at Brandless,” Interim Chief Executive Officer Evan Price said in a statement, adding that it had become to difficult for the company to compete in the direct-to-consumer market. “I'm confident the next great brands of tomorrow will be built from this experience.”