Everlane is the latest beloved Millennial brand that’s selling out to stay alive | CNN Business

Millennial-focused consumer brands seem to have two options lately: Sell out, or pivot to AI. I’m overstating it a bit, but hear me out. Everlane, the retailer that built its brand around wardrobe staples and “radically transparent” pricing, is reportedly being sold to Shein, the ultra-fast-fashion behemoth known for its cheap and trendy knock-offs. The irony is almost too on the nose: Everlane was a pioneer of 2010s do-gooder marketing, billing itself as an eco-friendly, sustainable fashion pioneer with ethical labor practices. (And, to its credit, it seems to have been actually doing the thing it said, according to fashion media.) Shein is practically the opposite of that. It makes mountains of cheap clothes out of synthetic material, under at times allegedly abusive labor practices. Yale researchers once called Shein the “biggest polluter in fast fashion” — which is a bit like being the tallest guy in the NBA, where no one is short. (Though to be clear, I am not suggesting Shein is as cool as Victor Wembanyama.) The deal reportedly values Everlane at $100 million. (An Everlane representative declined to comment. Shein didn’t immediately respond to a request for com