Everlane acquired by Shein for $100 million, report says
8 reported
According to a report by fashion editor Lauren Sherman of Puck, eco-conscious apparel brand Everlane has been acquired by fast-fashion conglomerate Shein for a reported $100 million. The deal, which was approved by Everlane’s board, sparked significant online outrage from consumers who felt the sale contradicted Everlane’s founding values of transparency and ethical manufacturing. Sherman explained that Everlane, which launched around 2010-2012, built its brand on telling customers the cost of production, factory locations, and fabric sources, while offering stylish basics. However, the brand struggled after 2018-2019 due to strategic product changes, a loss of cultural relevance, and a broader consumer pushback against sustainability-focused marketing. Sherman noted that Everlane’s private equity owner ultimately had little choice but to sell, and that Shein may use the brand as an experimental side project rather than requiring it to be profitable.
What’s reported
Everlane was acquired by Shein for a reported $100 million.
The deal was approved by Everlane’s board and broke via Lauren Sherman of Puck.
Online outrage followed, with consumers upset that Everlane sold to Shein, which they view as the antithesis of Everlane’s values.
Everlane launched around 2010-2012 with a focus on transparency, telling customers production costs, factory locations, and fabric sources.
The brand was at the center of the “normcore” trend and performed well until around 2018-2019.
After 2018-2019, Everlane made strategic product changes that did not align with consumer shifts, sold a majority stake to a private equity firm, and lost cultural relevance.
Sherman stated that Everlane’s investors “didn’t really have a choice” in the sale.
Shein does not need Everlane to be profitable and can use it as an “experimental little side piece.”
Key figures
Lauren Sherman, fashion editor at Puck
Noel King, co-host of Today, Explained
Sources: vox.com
