Yesterday (November 22), it is reported that the skincare brand Disco, which focuses on men, filed for bankruptcy protection on November 16th, officially declaring its closure.
Public records show that Disco was established in 2019 and raised over $8 million in funding in 2020 and 2021. It has also received awards and accolades from magazines such as GQ and Forbes. However, by 2022, as interest rates began to rise, investors shifted their attention to other brands.
The founder, Benjamin Smith, explained the reasons for the brand’s closure on social media: “The brand never resonated widely with men, and the cost of convincing men to take new actions and switch to new products is high.” Additionally, he mentioned the rising costs of acquiring new customers and the excessive dependence on their flagship product, restorative eye cream, as factors leading to the brand’s closure.
Benjamin Smith stated that the company considered restructuring and underwent three acquisitions in an attempt to salvage the business, but it ultimately ended in failure. This time, not only did the team disband, but many suppliers were also unable to receive payment for their goods.
