Chinese fast-fashion juggernaut Shein to buy eco-friendly Everlane

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Chinese fast-fashion giant Shein is acquiring Everlane, a retailer known for its commitment to affordable, ethically sourced, and sustainable clothing. The terms of the deal have not been disclosed, but the acquisition marks an expansion of Shein's market presence.

Everlane, the retailer that bucked the fast-fashion industry by promising affordable ethically sourced and sustainable clothing, is being acquired by the king of fast-fashion, China’s Shein. A letter to Everlane employees from CEO Alfred Chang confirming the deal was obtained by Associated Press on Friday. Everlane did not disclose a purchase price. Shein declined to comment. Everlane was founded in 2011 by Michael Preysman and Jesse Farmer with a mission to produce eco-friendly and affordable...