United States

Retail startup Brandless, backed by SoftBank, is shutting down

Brandless, the retail startup that shared an investor with Uber and WeWork, is shutting down after less than three years in business. The San Francisco-based company announced that it’s stopping operations on its website, where it sold generic discount consumer goods from snacks and vitamins to shave gel and body wash. Shoppers are no longer able to place orders on the site. “While the Brandless team set a new bar for the types of products consumers deserve and at prices they expect, the fiercely competitive direct-to-consumer market has proven unsustainable for our current business model,” the company said. Brandless will also lay off almost 90 percent of its staff, or 70 people, leaving 10 workers to handle the final customer ...