The deal marks a collision of two opposite poles of the apparel industry. Shein, founded in China and known for its ultra-fast supply chain that churns out thousands of new styles weekly at rock-bottom prices, has faced persistent scrutiny over labor practices and environmental impact. Everlane, by contrast, built
Fast-fashion giant Shein to buy eco-friendly Everlane in unlikely deal
- Shein, the Chinese fast-fashion giant, is acquiring Everlane, a San Francisco-based retailer known for its ethical sourcing and transparency commitments.
- Everlane CEO Alfred Chang confirmed the deal in a letter to employees obtained by the Associated Press on Friday.
- The purchase price was not disclosed, and Shein declined to comment on the acquisition.
- Everlane was founded in 2011 by Michael Preysman and Jesse Farmer, publicizing regular audits of its pay, working conditions, and environmental impact.
- In recent years, Everlane has faced controversies surrounding the treatment of its workers, according to media reports.
Machine-readable details
Article metadata
- Published
- Topic tags
- economy, business information, market and exchange
- Primary entities
- Shein, Everlane, Alfred Chang, Michael Preysman, L Catterton
- Themes
- fashion industry, mergers and acquisitions, sustainability, fast fashion vs ethical clothing
- Framework version
- 1.3.0
- Generated
- Consensus floor
- v0.3.0
- Mindspec
- v0.3.0