Shein Subsumes 15-Year-Old Everlane as Millennial Brand Selloff Deepens

1 articles · Updated · The New Yorker · May 27

Last week’s takeover folded Everlane into Shein, marking the latest breakup of a once-prominent direct-to-consumer millennial brand founded in 2011.
Post-pandemic fashion shifts hurt Everlane’s understated office basics, while the end of venture-capital-fueled subsidies left many digitally native brands short of cash and easier to absorb.
Michael Preysman responded on Tuesday by launching a new venture, Still Radical, pitched as carrying the same principles with no venture capital or private equity.
The deal fits a broader consolidation wave: Allbirds sold its intellectual property this year, Blue Apron went to Wonder Group, and One Medical had already been acquired by Amazon.
That pattern has turned many once-authentic lifestyle startups into shells valued mainly for brand residue, with Shein’s ownership of Everlane underscoring the shift from curated basics to ultra-fast fashion.

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