Shein To Reportedly Acquire Everlane For $100 Million
- On Saturday, the board of San Francisco-based direct-to-consumer label Everlane approved its sale to Chinese-founded fast-fashion company Shein for approximately $100m, Puck News reported.
- Private-Equity firm Catterton is exiting its majority stake through this debt-driven deal, as the firm had been managing about $90m in liabilities and seeking new investment for over a year.
- Founded in 2011 by Michael Preysman and Jesse Farmer on a thesis of 'radical transparency', Everlane once commanded a $250m-plus valuation, though holders of common stock will receive no payout.
- For Shein, the deal offers strategic incentive to absorb a US-brand asset ahead of a potential IPO, as the retailer has more than doubled profits to over $2bn.
- The CEO Alfred Chang oversaw the 14-month sale process while Everlane navigated an escalating European regulatory cycle, including the Digital Services Act and a London High Court copyright trial with Temu earlier this month.
38 Articles
38 Articles
Shein reportedly acquires Everlane for $100M in surprising fast-fashion shakeup
Everlane, the popular clothing company known for minimalist basics and sustainable practices, is reportedly being acquired by ultra-fast-fashion giant Shein. The reported sale is a stark reminder of how quickly the 2020s online retail boom has cooled — and how easily brands marketed as more responsible can end up folded into a business model defined by speed, volume, and disposable clothing. What's happening? According to Bloomberg, Shein is acq…
What We’re Buying at Everlane Just in Case This Is the End
In the wake of the news that Everlane is being acquired by Shein, we rounded up all our favorite pieces from the brand, including the Boxy Oxford Button-Down, the Day Glove flats, the Denim Chore Jacket, and the Luxe Rib Turtleneck.
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