Throw a win into the brand name recognition column after all. Brandless, a D2C retailer that became notorious for selling food, housewares, and personal products bearing no name, announced it was shutting down.
First reported by Protocol, Brandless is the first SoftBank Vision Fund-backed startup to close down. As a result of the shut down, the company will lay off nearly 90% of its staff, according to a company spokesperson.
At a youthful 2.5 years old, Brandless was considered a disruptor in the retail market; however, the company blames "fiercely competitive" retail market conditions that made its business "unsustainable."
