The $3 idea goes away

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The San Francisco-based company that sold most private-label essentials without branding is closing.

Questions:

  1. Why did they decide to close?
  2. Based on the article, how many people were employed at Brandless?
  3. How much did SoftBank invest in this company’s concept?
  4. When did Brandless start selling its products in major retailers’ physical stores instead of online-only?
  5. Why do you think that Brandless’ CEO says that the next great brands of tomorrow will be built from this experience?

Source:

Peterson, H. (2020). The SoftBank-backed company that sold everything for $3 is abruptly shutting down, refusing orders, and laying off employees. BusinessInsider.com, Feb. 10 (Retrievable online at https://www.businessinsider.com/brandless-shutting-down-no-new-orders-2020-2)