Shein will acquire a majority stake in Everlane from L Catterton for an undisclosed sum, pending regulatory approval. The deal was confirmed by both companies on May 22.
Shein is officially on the path to acquiring Everlane after weeks of industry speculation. The ultra-fast fashion company will purchase the majority stake from the LVMH-backed private equity firm L Catterton, with the transaction still subject to regulatory approval. Both firms confirmed the news following internal due diligence processes.