A new FMCG marketplace set to launch in the US in spring 2017 is tipped to become the ‘next Procter & Gamble’, according to a report published by Fortune.

Set up by Sherpa Capital investor Tina Sharkey and entrepreneur Ido Leffler, Brandless will create and sell natural and/or organic own-brand products at a single price point via a dedicated e-commerce site.

“The majority of new consumers, including millennials, say that they don’t want to buy the same products that their parents use,” Sharkey told Fortune. Brandless is described as a more authentic alternative to traditional grocery stalwarts – providing quality products at better value than their branded alternatives.