Unexpected News in Fashion
This is surprising, to say the least.
One of the most unexpected partnerships in fashion lately isn’t a designer capsule collection or a high-profile celebrity endorsement. Instead, it’s Shein, a behemoth in the fast fashion world, who has reportedly acquired Everlane, a brand once revered for its focus on ethical fashion, for a whopping $100 million.
Pack commented that the deal approved over the weekend feels like a twist of irony for a brand that has prided itself on “radical transparency” and sustainability targeted at conscious consumers.
Everlane spent over a decade building its reputation on simple, elevated basics. It advocated for environmentally friendly production methods and ethically sourced materials while aiming to minimize negative impacts like its carbon footprint.
In stark contrast, Shein has embraced its role as a leader in fast fashion without apology.
Critics often slam major retailers for overproduction, suspicions of labor exploitation, environmental issues, and fostering a culture of disposable fashion—practices that helped them generate $2 billion in profits last year, as reported by Business of Fashion.
This contradiction has left many shocked in the fashion industry and among consumers, with some media outlets describing the acquisition as “amazing” and “unique.” Others feel it’s a “humiliating” moment that signals the end of an era marked by millennial optimism.
Many online shoppers were taken aback and wondered if this was a prank.
One Reddit user expressed disbelief, saying, “Someone please tell me this is a joke. I understand the desire for money, but don’t people take pride in what they create?!?,” and noted similarities to brands like Quince and TEMU.
Now, for Everlane, this sale could represent a shift within the retail sector and a chance to eliminate $90 million in debt that its majority owner, L. Catterton, had been attempting to address since March. The company had reportedly been exploring options to keep its share if other investors came on board, but ultimately decided to sell the entire brand.
Everlane, founded by Michael Preisman, initially had a successful launch in the post-pandemic 2010s, but later faced challenges in maintaining its momentum.
Despite attracting a dedicated fanbase for its transparency and minimalist design, rising costs and stiff competition in the online market, along with the departures of Preisman and marketing leader Alexandra Spant, ultimately hindered the brand’s sustainability.
When L Catterton took control, efforts to reposition Everlane to compete with brands like Theory and Frankie Shop didn’t pan out.
For Shein, acquiring Everlane might offer a chance to improve its public image. Nonetheless, this sale reflects a broader trend where companies that aimed for sustainability start bending to the forces they once opposed. In a marketplace increasingly driven by scale and survival, even those brands that began with high ideals seem to compromise.
