3 MIN READ<\/span> <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n <\/bsp-list-loadmore> <\/div>\n<\/div>\n
L Catterton began acquiring significant stakes in Everlane in September 2020. becoming its majority owner. It also owns a significant stake in brands Boll & Branch, Etro and Birkenstock.<\/p>\n
Preysman officially stepped down in 2022.<\/p>\n
The online retailer Shein was founded in China in 2012 and become extremely popular with teens and young shoppers with $15 trendy dresses and sandals, A majority of items are mass produced and stitched together by workers in a web of factories in China. It has moved its headquarters in Singapore.<\/p>\n
\u201cLike many brands, we\u2019ve faced increasing pressure in a rapidly changing retail landscape,\u201d Chang wrote in the letter. \u201cThis partnership allows us to remain independent, and gives us the stability and resources to make a larger impact, without compromising on the quality and standards that make Everlane, Everlane.\u201d<\/p>\n
Chang, who became CEO in 2024, wrote that the deal will enable the business to invest more in its product, innovation and staff. He emphasized that Everlane will remain an independent brand, staying true to its \u201csustainability\u201d commitments.<\/p>\n
Chang said he will continue as CEO and its leadership will remain in place.<\/p>\n
The takeover bid arrives at a time when Everlane is struggling. Sales are down and debt has mounted, according to Neil Saunders, managing director of GlobalData Retail. The company needs new ownership to survive, and Shein can provide that financial stability, he said.<\/p>\n
Shein can establish a presence outside of fast fashion through Everlane, Saunders said, as growth within the industry becomes more difficult. Tariffs and other trade restrictions under the Trump administration have upended imports of the inexpensive clothing that dominates fast fashion. <\/p>\n
Winder noted that Shein also has an opportunity to redefine its brand by creating a portfolio of eco-friendly brands like Everlane. <\/p>\n
But Everlane and Shein are an odd couple, analysts noted.<\/p>\n
Shein is unlikely to completely retool Everlane\u2019s supply network, Saunders said, but even being associated with the Shein group may be \u201csomewhat jarring for core Everlane customers. \u201d<\/p>\n
\u201cUltimately, the deal likely saves Everlane,\u201d he said. \u201cBut that salvation comes at a price.\u201d<\/p>\n
Chang seemed to allude in his memo to some of the negative responses on social media when rumors of the deal were swirling, stating that the \u201cpast week has been a hard one. Seeing our company in the media, and in that light, was painful.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW YORK (AP) \u2014 Everlane, the retailer that bucked the fast-fashion industry by promising affordable ethically sourced and sustainable clothing, is being acquired by the … <\/p>\n","protected":false},"author":1,"featured_media":656,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,1,8],"tags":[],"_links":{"self":[{"href":"https:\/\/newshouse.info\/index.php?rest_route=\/wp\/v2\/posts\/655"}],"collection":[{"href":"https:\/\/newshouse.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newshouse.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newshouse.info\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newshouse.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=655"}],"version-history":[{"count":1,"href":"https:\/\/newshouse.info\/index.php?rest_route=\/wp\/v2\/posts\/655\/revisions"}],"predecessor-version":[{"id":681,"href":"https:\/\/newshouse.info\/index.php?rest_route=\/wp\/v2\/posts\/655\/revisions\/681"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newshouse.info\/index.php?rest_route=\/wp\/v2\/media\/656"}],"wp:attachment":[{"href":"https:\/\/newshouse.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newshouse.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newshouse.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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