Ultra-fast fashion giant Shein is planning to acquire sustainable clothing brand Everlane in a deal that would value the latter at 100 million dollars. Unconfirmed reports of the transaction have triggered strong reactions across the fashion sector.
The potential acquisition comes as a surprise given the contrasting approaches of the two companies. Everlane built its reputation on radical transparency and ethical practices since its launch in 2011, reaching a peak valuation of 600 million dollars in 2020. Shein, by contrast, has faced criticism over labor practices and environmental impact.
