All articles tagged with #shein
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.
Xu Yangtian, Shein’s long-secret founder, made his first major public appearance at a Guangdong government event to stress the company’s Chinese roots, praise local party and government support, and announce a RMB 10 billion investment in Guangdong supply chains over three years, even as Shein pushes for an offshore IPO amid global regulatory scrutiny.
The European Commission has launched a formal investigation into Shein to assess potential Digital Services Act breaches, including the sale of childlike sex dolls, the platform’s addictive design, and the transparency of its recommender systems. The EC notes possible enforcement steps and penalties up to 6% of global sales, while Shein says it is strengthening compliance and protections for younger users and has cooperated with authorities amid prior France-related inquiries.
EU regulators have opened a formal investigation into Shein, examining illegal products and potentially addictive design features on its platform, as concerns grow over safety, compliance and consumer protections in fast-fashion.
The European Commission launched a formal investigation under the Digital Services Act into Shein, examining whether the Chinese online marketplace allowed sale of illegal items such as child-like sex dolls, weapons, unsafe toys and cosmetics, and whether it failed to assess and mitigate risks. The probe also scrutinizes Shein’s platform design and recommender system for potential harms, while Ireland’s regulator seeks information on protections for minors. Shein says it is cooperating and has implemented age checks and other safety measures; violations could carry penalties up to 6% of global revenue.
The European Commission has opened a formal investigation into Shein for suspected breaches of EU law, including illegal products (such as childlike sex dolls and weapons), addictive design features, and opaque recommender systems under the Digital Services Act; the probe will assess compliance and transparency, with a ban considered only as a last resort if Shein does not cooperate.
A Paris court rejected the French government's request to suspend Shein, citing that removing the offending products was sufficient and suspension would be disproportionate, though it ordered Shein to implement age-verification for certain content. The platform had been found selling illicit items like child-like sex dolls, illegal weapons, and banned medications, prompting investigations and regulatory actions across multiple platforms.
A Paris court rejected France's attempt to suspend Shein's website over childlike sex dolls, citing disproportionate measures, but ordered age verification for adult products and acknowledged the incidents as isolated. Shein responded by banning all sex dolls globally and committed to improving compliance and control processes.
Shein continues to operate in France under close government supervision after removing weapons from its platform following an injunction, amid ongoing legal issues and controversy over the sale of childlike sex dolls and weapons, with the government pledging strict enforcement of laws.