All articles tagged with #everlane
Michael Preysman, Everlane's co-founder and former CEO, is launching a new VC- and PE-free apparel brand after Everlane's sale to Shein. A placeholder site (stillradical.com) is collecting emails while the brand's official name is not yet announced, with a focus on radical transparency, sustainability, and intact supply chains.
Former Everlane founder Michael Preysman discusses Shein’s acquisition of Everlane, reflecting on the brand’s rise, its struggles with product-market fit and leadership changes, and unveils stillradical.com — a new, experimental project aimed at reviving Everlane’s transparency and sustainability ethos outside a traditional corporate model.
Crystal Chen recounts a decade-long attachment to Everlane, drawn by its radical transparency and affordable basics, only to watch the brand’s quality decline and marketing pivot before news that Shein bought it. Feeling betrayed, she ends the relationship, commits to shopping more slowly and intentionally, and adopts a higher-standards approach to ethical consumption while pledging to deinfluence others from buying mindlessly online.
Everlane, famed for radical transparency, is being acquired by ultra-fast-fashion giant Shein for about $100 million — a steep decline from its peak and a debt-fueled exit by private equity. The board approved the deal as Everlane faced years of financial and reputational challenges, signaling a sharp shift from its ethos to ownership by a low-cost fashion platform, with customers and former employees expressing disappointment and concerns about the brand’s future amid Shein’s regulatory headwinds.
Shein is reportedly negotiating to acquire Everlane for about $100 million, a move that could extend Shein's reach into more premium basics; terms and closing timeline remain unconfirmed.
The Cut reports that Shein reportedly bought Everlane for $100 million, with Everlane’s parent LCatterton and CEO Alfred Chang seeking to clear about $90 million in debt; the move raises questions about Everlane’s radical-transparency, sustainability ethos in the face of a fast-fashion buyer, especially given its public goals to cut emissions and reach net-zero.
Everlane, the sustainability-forward DTC brand, is being sold to Shein by its majority owner L Catterton in a deal valued at about $100 million; common stockholders get no payout, and details on cash or preferred-share treatment remain unclear.