Everlane Reportedly Sells to Shein as $90 Million Debt Topples Ethical-Fashion Pioneer
Updated
Updated · The Atlantic · May 19
Everlane Reportedly Sells to Shein as $90 Million Debt Topples Ethical-Fashion Pioneer
13 articles · Updated · The Atlantic · May 19
Puck reported this week that Everlane has found a buyer in Shein, a striking turn for a brand built on “radical transparency” and ethical shopping.
The reported sale follows deep financial strain: Everlane is carrying $90 million in debt, is behind on rent, and is facing eviction from its San Francisco headquarters.
That collapse comes after years of pressure on sustainable-fashion brands, as inflation pushed consumer prices up 25% since 2020 and made higher-cost “ethical” basics harder to sell.
Everlane’s reported deal also underscores a broader retreat in the sector: Allbirds is shifting away from footwear, Mara Hoffman shut down, and EU sustainability rules have been weakened.
Everlane promised transparency but sold to secretive Shein. What does this reveal about the business of 'doing good'?
As fast fashion acquires its 'ethical' rival, what does this signal for the future of sustainable consumption?