Fast fashion giant Shein is reportedly acquiring sustainable apparel brand Everlane in a deal valued at approximately $100 million, according to multiple reports. The acquisition marks a dramatic shift for Everlane, which built its reputation around sustainability, ethical sourcing, and “radical transparency.”
The deal was first reported by Puck News and later cited by multiple outlets. Reports indicate that Everlane’s board approved the sale, with majority owner L Catterton agreeing to sell the company after Everlane struggled with roughly $90 million in debt and declining market value.
Everlane was once considered one of the most prominent direct-to-consumer fashion startups of the 2010s, reaching valuations estimated at around $600 million during its peak growth years. However, changing consumer habits, rising competition from lower-cost retailers, and post-pandemic pressures significantly weakened the business.
Industry reaction has been swift, with many sustainability advocates and longtime Everlane customers criticizing the transaction as at odds with the brand’s original mission. Commentators described the acquisition as symbolic of broader struggles within the sustainable fashion sector, where ethical brands have found it increasingly difficult to compete against low-cost fast-fashion operators.
The acquisition also reflects Shein’s broader push to expand its influence within Western fashion markets and strengthen its portfolio of recognizable consumer brands. Analysts believe Everlane’s established reputation and customer base could help Shein improve its positioning among consumers seeking higher-quality or sustainability-focused apparel.
Neither Shein, Everlane, nor L Catterton had officially confirmed the deal when many of the reports were published.
