Anonymousabout 4 hours ago
Shein, the Chinese-founded ultra-fast-fashion giant, has acquired Everlane — the brand that built its identity on "radical transparency" — for $100 million, an 82% decline from the company's 2020 valuation of $550 million. The deal, brokered as a debt-driven exit by majority owner L Catterton, leaves Everlane's common stockholders with nothing and raises fundamental questions about the viability of ethical fashion as a business model, while exposing Shein to new greenwashing liability at a time when regulators in Europe and the U.S. are already fining the company tens of millions for deceptive sustainability claims.