Shein to Acquire Everlane in $100 Million Debt-Clearing Deal
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- Puck
- Time
- 9:52 PM
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The fast-fashion giant Shein has reached a deal to acquire Everlane, the direct-to-consumer basics brand, from its majority owner, L Catterton. The acquisition values Everlane at $100 million and was approved by the company's board following a multi-year decline in the brand's growth.
According to internal communications, common stockholders will not receive a payout from the transaction, reflecting a significant drop in valuation for the once-prominent startup. The deal marks a notable shift for Everlane, which rose to popularity on a brand identity centered around "radical transparency" and sustainable manufacturing practices.