Chinese fast-fashion company Shein to buy eco-friendly retailer Everlane
Summary
Chinese fast-fashion company Shein is buying Everlane, a retailer known for eco-friendly and ethical clothing. Everlane’s CEO says the company will stay independent and keep its focus on sustainability with Shein’s financial support.Key Facts
- Everlane was founded in 2011 with a goal to offer affordable, eco-friendly clothing.
- The company has faced worker treatment controversies in recent years.
- Shein, a leading fast-fashion company from China, is acquiring Everlane.
- Everlane’s CEO Alfred Chang confirmed the deal and will remain in charge.
- Everlane will continue as its own brand and maintain its sustainability promises.
- Everlane’s sales have declined, and it has increasing debt, requiring new ownership.
- Shein’s purchase is expected to provide financial stability for Everlane.
- The deal may affect how some Everlane customers view the brand due to Shein’s fast-fashion reputation.
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