Everlane Co-Founder Blasts Shein Deal as 70% of Owners Regret Selling
Updated
Updated · The New York Times · May 28
Everlane Co-Founder Blasts Shein Deal as 70% of Owners Regret Selling
9 articles · Updated · The New York Times · May 28
Michael Preysman said he was "quite shocking, to be honest" after learning Everlane would be acquired by Shein, and said he would never have approved the sale.
Shein is buying a brand built on "radical transparency" from majority owner L Catterton, the LVMH-backed private equity firm, a pairing Preysman called the opposite of Everlane's mission.
Preysman stepped down as Everlane's chief executive in 2021 and later left its board after disagreements, leaving him without control over the company's direction.
About 70% of business owners regret selling their companies, according to the Exit Planning Institute, underscoring a broader pattern of founders lamenting what happens after they give up control.
Why would fast fashion’s biggest player buy a failing brand whose values are its polar opposite?
Is this deal proof that mission-driven brands cannot survive without sacrificing principles for growth?
After selling out to its 'antithesis', can a brand built on radical transparency ever be trusted again?
Everlane Sells to Shein for $100 Million: Transparency vs. Fast Fashion and the Crisis of Sustainable Branding
Overview
In May 2026, fast-fashion giant Shein acquired the struggling sustainable brand Everlane, which had been seeking a buyer due to mounting debt and declining performance. The deal, made public around May 22, allowed Everlane to continue operating and provided much-needed financial stability. For Shein, the acquisition was a strategic move to gain brand legitimacy and reach higher-priced customers. However, this union immediately sparked widespread criticism, as consumers and industry observers voiced deep concerns about the future of Everlane’s sustainability-focused identity under Shein’s ownership, highlighting a sharp clash of values between the two companies.