Early this year, we wrote about Brandless when the SoftBank-backed direct to consumer (D2C) startup shut down its operation after burning through $292.5 million of investors’ money. Now, it seems the four-year old startup has risen from the ashes and wants to give it another try.
In a simple message on its website, the company said this: “Brandless is returning.” Brandless, formerly Dhosi, is a fresh approach to consumer commerce. The original concept Brandless’ mission is selling competitively priced products with plain packaging.
Brandless decided to close its operations in February due to the “fiercely competitive” market, rendering its business model to be unsustainable despite raising a substantial funding of $240 million under SoftBank’s Vision Fund, valuing the company at a little over $500 million.
Founded in 2016 by Ido Leffler and Tina Sharkey, the San Francisco-based Brandless aimed to eradicate the concept and costs of branding to maintain its initial uniform price of $3 across its array of non-perishable food and household goods. Below is what the company said back in February:
“After more than two amazing years of bringing customers across the country better for you and better for the planet products, Brandless is halting operations. 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 good news is that although Brandless products will no longer be available on our website, they will still exist in homes and kitchens everywhere thanks to you, our supporters and fans.
To all of our customers: thank you for trusting Brandless to bring you innovative products created with quality materials and clean ingredients that help you live well and take better care of yourself, your family and your home. We’re hopeful the future holds a new version of Brandless and that we see you again.”
