Shein to acquire sustainable fashion brand Everlane
Fast-fashion titan Shein buys eco-friendly Everlane in a surprising deal.
Chinese fast-fashion powerhouse Shein is set to acquire Everlane, the U.S.-based retailer that built its brand on sustainability and ethical manufacturing. The deal was confirmed by Everlane CEO Alfred Chang in a letter to employees, though financial terms were not disclosed. Everlane was founded in 2011 by Michael Preysman and Jesse Farmer with a mission to offer affordable, eco-friendly clothing through radical transparency—publishing factory audit results and environmental impact data. The company opened its first physical store in 2017 and gained a loyal following among conscious consumers.
However, Everlane has faced headwinds in recent years, including media reports of worker treatment controversies and financial struggles amid rising debt and weak sales. Shein, a Chinese fast-fashion juggernaut known for its ultra-low prices and massive supply chain, seems an unlikely buyer for a brand built on sustainability. L Catterton, the private equity firm that became Everlane's majority owner in 2020, also holds stakes in Boll & Branch, Etro, and Birkenstock. The acquisition marks a dramatic shift for Everlane, which once positioned itself as a direct antithesis to fast fashion.
- Shein, the Chinese fast-fashion giant, is acquiring sustainable retailer Everlane in a deal confirmed by CEO Alfred Chang.
- Everlane was founded in 2011 with a mission of ethical, transparent production but has recently struggled with weak sales, rising debt, and worker treatment controversies.
- L Catterton, majority owner of Everlane since 2020, also owns stakes in brands like Birkenstock and Boll & Branch; purchase price undisclosed.
Why It Matters
The acquisition blurs the line between fast fashion and sustainability, raising questions about Everlane's core values.