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Fast Company reports that online store Brandless, created less than three years ago to sell "simply branded household, personal care, baby, and pet products on the cheap," and in doing so compete effectively with Amazon, is going out of business.

The story says that Brandless "is no longer taking orders and has laid off 70 people. The last 10 employees still working at the company will process the remaining few customer orders and 'evaluate any acquisition offers'."

Fast Company points out that that this is "a dramatic end for a company that entered the market with an original idea … bringing the direct-to-consumer business model to the consumer packaged goods industry. They created the infrastructure to develop high-quality organic products but make them cheaper than what you might find at Whole Foods. They were able to do this by controlling their entire supply chain from manufacturing to the actual selling of the product, cutting out the middlemen along the way.

"Originally, the company had a very limited assortment of products and sold every item for $3 to simplify the overwhelming number of decisions people make when walking through the supermarket or shopping online. Later, Brandless expanded into more expensive products but typically sold them for a multiple of $3."

However, changes at the top of the company and demands from investors that it show a profit as soon as possible, may have pushed Brandless further and faster than it was prepared to go.