Shein to buy apparel retailer Everlane - Reuters

<a href="https://news.google.com/rss/articles/CBMinAFBVV95cUxOa0hFZkVOZVRGMHBlSTZjNGxaUzJud290Z0ZuOEtJVzJSS0lySG9rdVJmYzRHV05WYURWRWJ6Vk5TTm5aTUg0Q2o3aHZjYVBzUUlkNHh3a0h6TjA3UTRLRV9wektYRE1fbFRJNXdEVmoySXhORUlLSkk4bWVyUXoyZE9XNnE3OFZHNWtwUV8zNHlkaDZHSzEzV0xpSlI?oc=5" target="_blank">Shein to buy apparel retailer Everlane</a>&nbsp;&nbsp;<font color="#6f6f6f">Reuters</font>

Shein, the Chinese fast-fashion giant, is acquiring Everlane, a San Francisco-based retailer known for its commitment to sustainability and ethical sourcing. The acquisition has raised questions due to the contrasting business models of the two companies.

Everlane, a retailer known for its commitment to sustainability and ethical sourcing, is being acquired by China's Shein. The acquisition has raised questions about the future of Everlane's sustainability commitments under Shein's ownership.

Shein, the fast-fashion giant, has agreed to acquire Everlane, a San Francisco-based apparel brand known for its focus on sustainability and transparency. The deal is valued at approximately $100 million, a significant decrease from Everlane's previous valuation of around $600 million.

Shein, the ultrafast-fashion giant, is acquiring Everlane, a brand that once pitched millennial shoppers on a vision of fashion with 'ethical factories' and 'radical transparency' into how its clothes were made and priced.

Shein has agreed to acquire Everlane, according to an emailed statement from Everlane CEO Alfred Chang. The move represents the direct-to-consumer brand’s next phase, enabling global expansion and new capabilities and opportunities.