Photo: Liz Hafalia/San Francisco Chronicle via Getty Images
Another millennial DTC brand bites the dust. Over the weekend, Puck reported that Shein bought Everlane for $100 million. According to Puck, Everlane’s parent company, L Catterton, and the brand’s CEO, Alfred Chang, “had been searching for an investor to clear about $90 million in debt.”
It’s hard to ignore the irony of a pioneer in “sustainable” fashion like Everlane, whose ethos was once based on “radical transparency,” reportedly selling to a fast-fashion juggernaut that’s been accused of shoddy labor practices. Throughout the 2010s, Everlane positioned itself as a bastion of eco-friendliness, disclosing its supply chain and opting for natural fibers, like cotton, in much of its clothing. In recent years, the brand has yo-yoed financially (sales dipped in 2022 but came back up in 2023) while leadership faltered; founder and former CEO Michael Preysman stepped away in 2022 and was replaced briefly by Andrea O’Donnell and then by Chang in 2024.
As of Monday morning, Everlane’s website still has an entire landing page dedicated to sustainability, promising the brand is committed to reducing its “greenhouse gas emissions by more than 50% per-product by 2030, and achieve Net-Zero emissions by (or before!) 2050.” It’s hard to imagine Shein can abide by such goals.
The Cut has reached out to Everlane for comment and will update this post if we hear back.
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