Shein Reportedly Plans to Acquire Everlane for $100 Million
Fashion reporter Lauren Sherman reported this week that Shein is considering the purchase of Everlane. Everlane has faced financial losses and closed its San Francisco office in April. Neither company has confirmed the report.
fastcompany.comFashion reporter Lauren Sherman reported this week that Shein is considering the purchase of Everlane, a San Francisco-based clothing brand. The reported price is $100 million. Everlane’s majority owner is private equity firm L Catterton.
Everlane was founded on a direct-to-consumer model that emphasized disclosure of production costs and factory conditions. The brand partnered with Saitex, a denim factory in Vietnam, for some of its products. In April, Everlane confirmed it would close its San Francisco office.
The company had conducted layoffs in 2020 and 2023. Sherman stated that Shein views Everlane’s supply chain as an asset. Shein has not issued a statement on the reported acquisition.
Allbirds, another company that previously marketed sustainable footwear, announced a shift toward AI-related products. The company changed its name to NewBird. Its stock price rose 600 percent after the announcement. Allbirds had reported ongoing financial losses before the change. The company had previously promoted carbon-neutral materials in its sneakers.
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