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. Still, it was losing money from high shipping costs and was plagued with quality problems, according to a report from The Information. It had tried increasing prices to $9 on some products, but it wasn’t enough. SoftBank had set up its investment in Brandless so that it would only deliver all of the cash when certain markers were hit. It never in... See more
Protocol • Brandless shuts down operations, becoming SoftBank Vision Fund's first failure
The latest example: Outdoor Voices founder Tyler Haney, who launched the athleisure brand in 2014, is stepping down from her role as CEO; the company has reportedly raised a “down round” of funding from its existing investors at a lower valuation, and was said to be losing money on around $40 million of sales last year.
Dan Frommer • Outdoor Voices shows community only gets you so far
Like everything else, this concept is being tested brutally by the Covid-19 pandemic. Rent the Runway, the fashion rental service, has had to rethink its plans as fewer Americans commute to offices or attend fancy events. Joymode, which rented out thousands of products, from electronics to margarita machines, closed. Uber rides — which were suppose... See more