Brandless launched in 2017. Raised almost $300 million in funding (including $240 million from SoftBank’s Vision Fund). Now, they have shut down.
The vision of Brandless was to sell plain label products at a significant discount. The discount coming from the fact that there are no expensive branding costs built into the pricing, as you would have with the major FMCG brands.
No doubt the failure is due to multiple factors.
Regardless of the reason, it is a lesson for all future brands, that just being an ‘anti-brand’ is not enough.
All brands need to have a purpose. If not, their future is tenuous.
A great example of plain label brand that does have a purpose is Thank You.
Here’s a link to their story. Please do check them out.
#brandpurpose #brandless #brand