Chinese fast-fashion juggernaut Shein to buy eco-friendly Everlane in an unlikely fit - BNN Bloomberg
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Rolling outlet bias
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Article Excerpt
NEW YORK — Everlane, the retailer that bucked the fast-fashion industry by promising affordable ethically sourced and sustainable clothing, is being acquired by the king of fast-fashion Shein, founded in China.
A letter to Everlane employees from CEO Alfred Chang confirming the deal was obtained by The Associated Press on Friday.
Everlane, based in San Francisco, didn’t disclose a purchase price. Shein declined to comment. Everlane’s majority owner L Catterton couldn’t be immediately reached for comment.
Everlane was founded in 2011 by Michael Preysman and Jesse Farmer with a mission to pro…
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