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Brandless The Procter & Gamble for millennials
Brandless, a startup e-commerce consumer packaged goods company, wants to set a landing point for consumers who seek quality and transparency, and want to avoid brand loyalty and choice overload typical for the majority of grocery stores.
By selling its products online in no-frills packaging, Brandless claims to save consumers up to 40% by eliminating hidden costs associated with marketing, branding, and advertising for a national brand. Through the principles of its business model, Brandless is creating a direct relationship with its consumers, which most CPG brands do not actually have.
The company, which pitches itself as the “Procter & Gamble for Millennials,” is tapping into compelling trends. Its online-first platform is indicative of the current convenience-driven era of shopping, and its mission statement seems tailor-made to connect with a value-driven millennial demographic. The Brandless partnership with Feeding America on the top of that creates a pretty convincing option for busy, health-conscious consumers who want to feel like they are making a difference.
The idea got immediate attention from investors and the company has raised more than $50m over three rounds of funding prior to its launch. Amongst its investors, there are big companies willing to back up new e-commerce brands going after huge markets, including Cowboy Ventures, Slow Ventures, Redpoint, New Enterprise Associates and Google Ventures.
In February 2018, Brandless received the Best NewCo of the Year award from NewCo Honors for disrupting retail markets.
As the company is calling for a fight against traditional branding, it is also building its own brand it in the process, asking customers to trust it. This proves that even seeking to disrupt brands as we know them still requires a strong brand to succeed.