Everlane, a sustainable fashion brand known for its “radical transparency” approach, has been acquired by online fast fashion retailer Shein. Everlane CEO Alfred Chang confirmed the sale in an email statement on Friday, emphasizing that Everlane will continue as an independent brand dedicated to sustainability and high-quality products.
The acquisition, approved by Everlane’s board, was finalized last week, according to reports. While the financial terms were not disclosed, sources estimated Everlane’s value at $100 million US. The brand had faced challenges, including declining sales and accumulating $90 million US in debt.
The news of the sale sparked backlash from fans who viewed it as contradicting Everlane’s sustainability values. Former Timberland COO Ken Pucker remarked on the irony of Shein’s reputation for fast fashion acquiring a brand built on ethical production and transparency.
Everlane’s emphasis on ethical manufacturing and cost transparency set it apart in the fashion industry, providing consumers with detailed information on garment production costs. In contrast, Shein is known for its rapid production of thousands of inexpensive styles daily, often involving long working hours and concerns about toxic chemicals in products.
The challenges faced by sustainable fashion brands like Everlane reflect broader struggles in the industry. While some, like Patagonia and Reformation, have thrived, others have faltered due to competition from fast fashion’s low prices and quick trend turnover.
Jessica Sternberg, founder of sustainable brand Free Label, emphasized the need for brands to offer more than just ethical practices to attract customers. She highlighted the importance of longevity, fit, and inclusivity in product offerings. Sternberg, like others in the industry, believes that the future of sustainable fashion lies in smaller ethical businesses rather than large profit-driven corporations.
Experts suggest that to truly transform the fashion industry, structural changes and policies that hold companies accountable for their environmental impact are necessary. Simply relying on consumer demand for sustainability may not be sufficient to drive industry-wide change.
