Following Shein sale, Everlane founder launches new brand
Retail Dive • • business
Key Points:
- Michael Preysman, co-founder of Everlane, is launching a new apparel brand under the placeholder website stillradical.com, emphasizing sustainability and supply chain integrity.
- Preysman left Everlane's board earlier this year and was surprised and "appalled" by the recent sale of Everlane to Chinese fast-fashion company Shein, which was confirmed last Friday.
- The new venture aims to uphold Everlane’s original principles without reliance on venture capital or private equity, contrasting with Everlane's previous financial pressures that led to quality and supply chain issues.
- The stillradical.com site is currently collecting emails from interested customers, with nearly 4,000 sign-ups so far, but the official brand name has not yet been announced.
- Industry experts note that Everlane had shifted towards fast fashion prior to the Shein deal, which disappointed loyal customers who valued its original direct-to-consumer and transparent business model.