Shein Acquires Sustainability-Focused Fashion Brand Everlane in $100 Million Deal

Fast-fashion powerhouse Shein has reportedly purchased Everlane, the sustainability-focused apparel brand, in a transaction valued at $100 million that received board approval on Saturday, May 16.

The acquisition represents a notable turn for Everlane, which launched in 2011 under the vision of Michael Preysman and Jesse Farmer. The company built its identity around three core sustainability commitments: Keep Earth Clean, Keep Earth Cool, and Do Right By People.

According to reporting, Everlane had been seeking investor backing as it carried approximately $90 million in debt as of March. The deal with Shein, a Chinese fast-fashion company often cited as a major contributor to pollution in the sector, comes as a strategic pivot for the brand.

The acquisition draws parallels to Quince, another San Francisco startup that similarly blended Shein's rapid production and distribution model with luxury-adjacent positioning. Industry observers note that Shein identified an opportunity to integrate Everlane's brand positioning within its own operational framework.

Everlane's ownership structure had already shifted in recent years. Investment firm L Catterton acquired a minority stake in 2020, coinciding with the departure of founder Michael Preysman from the company.

The fast-fashion sector has faced ongoing scrutiny over environmental and labor practices, and this acquisition underscores the continued consolidation within the retail landscape as established players seek to expand their portfolios.