Shein Acquires Everlane, Millennials' Sustainable Fashion Dream
Business Insider • • general
Key Points:
- Everlane, a millennial-favorite sustainable fashion brand, has been officially acquired by fast-fashion company Shein, sparking surprise and concern among longtime customers and employees.
- Everlane's CEO Alfred Chang stated the brand will remain independent and committed to its sustainability values while expanding its global reach under Shein's ownership.
- Employees reportedly learned about the acquisition through social media before receiving formal communication, highlighting internal communication challenges during the transition.
- Customers express worry that the acquisition by Shein, known for controversial labor and environmental practices, could compromise Everlane's ethical standards and product quality.
- The sale marks a broader shift in sustainable fashion, as brands struggle to balance ethical commitments with financial pressures, leading some to raise prices or pivot strategies amid changing market demands.