Shein to Acquire Everlane Retailer

Shein will acquire Everlane, the online apparel retailer that opened its first physical store in 2017. A letter to Everlane employees from CEO Alfred Chang confirming the deal was obtained by The Associated Press on Friday. Everlane was founded in 2011 by Michael Preysman and Jesse Farmer.

The company publicized regular audits of its pay and working conditions as well as its environmental impact. L Catterton began acquiring significant stakes in Everlane in September 2020 and became its majority owner.

Everlane did not disclose a purchase price.

Shein declined to comment. Chang, who became CEO in 2024, wrote that the deal will enable the business to invest more in its product, innovation and staff. Chang said Everlane will remain an independent brand and stay true to its sustainability commitments. He said he will continue as CEO and that its leadership will remain in place.

Sales are down and debt has mounted at Everlane, according to Neil Saunders, managing director of GlobalData Retail. Saunders said the company needs new ownership to survive and that Shein can provide that financial stability. Shein can establish a presence outside of fast fashion through Everlane, Saunders said, as growth within the industry becomes more difficult.

Tariffs and other trade restrictions under the Trump administration have upended imports of the inexpensive clothing that dominates fast fashion. Shein is unlikely to completely retool Everlane's supply network, Saunders said, but even being associated with the Shein group may be somewhat jarring for core Everlane customers.

the deal likely saves Everlane, he said.