Shein is buying Everlane, a direct-to-consumer brand known for minimalist basics and “affordable-luxury” pricing. Everlane previously marketed “ethical factories” and “radical transparency” about how clothes were made and priced. Everlane’s CEO Alfred Chang said the deal begins a bigger chapter while Everlane will remain an independent brand aligned with longstanding values, sustainability commitments, and quality. The acquisition gives Shein a stronger U.S. foothold and access to a higher-end online-retail model. Shein has faced legal complaints and scrutiny over labor practices and shelved plans to go public. Everlane’s deal is seen as a potential lifeline, though some customers reacted with disappointment and accusations of selling out.
"“This is the start of a bigger chapter for Everlane and the team behind it,” CEO Alfred Chang said in a statement shared with NPR. He did not disclose the size of the deal, but added that Everlane would remain “an independent brand, staying true to our longstanding brand values, sustainability commitments, and exceptional quality.”"
"Buying California-based Everlane gives Shein a bigger U.S. foothold and access to a higher-end online-retail model. Shein was founded in China but has ballooned into a global giant, up on the latest TikTok micro-trends with dresses under $15 and jewelry under $5. Shein shelved its plans to become a publicly traded company in either the U.S. or in Europe, as it faced extensive legal complaints and scrutiny by lawmakers on both continents, particularly over its labor practices."
"For Everlane, the deal appears to present a lifeline. CEO Chang promised a new era with “expanded global reach, new capabilities, and greater opportunities.” But Everlane fans mourned online, with posts accusing the brand of selling out and betraying them. A headline by Fast Company declared: “The era of millennial optimism is officially over.”"
"Once sported by celebrity fashionistas like Meghan Markle and Angelina Jolie, Everlane focuses on minimalist basics and natural fabrics in the “affordable-luxury” category, with tailored shorts for $120 and linen tops for $80. The company came of age in the 2010s in the wave of trendy direct-to-consumer companies. Like sneaker-maker Allbirds, they wooed shoppers with pitches of sustainability and transparency."
Read at www.npr.org
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