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Sustainable fashion brand Everlane reportedly selling out for $100 million to fast-fashion tycoon Shein: ‘Tell me this is a joke’

Nypost · · 493 words · By Kyra Breslin
Corporate Hypocrisy Sustainability vs. Profitability Greenwashing
open_in_new Read the original article: https://nypost.com/2026/05/18/lifestyle/everlane-reportedly-sold-to-shein/

psychologyDetected Techniques

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Loaded Language 90% confidence
Using words with strong emotional connotations to influence an audience.
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Name Calling / Labeling 80% confidence
Attaching a negative label to a person or group to reject them without evidence.
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Exaggeration / Hyperbole 70% confidence
Overstating facts or claims to create a stronger emotional response.

fact_checkFact-Check Results

8 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

check_circle Corroborated 5
verified Verified By Reference 2
info Single Source 1
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“fast fashion giant Shein reportedly acquiring Everlane, an apparel brand once known for its ethical fashion, for $100 million.”
CORROBORATED
Multiple independent web search results report that Shein is acquiring Everlane for $100 million.
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wikipedia NEUTRAL — The anti-sweatshop movement refers to campaigns to improve the conditions of workers in sweatshops. It started in the 19th century in industrialized countries such as the United States, Australia, New…
https://en.wikipedia.org/wiki/Anti-sweatshop_movement
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wikipedia NEUTRAL — Everlane is an American clothing retailer that sells primarily online. Headquartered in San Francisco, California with stores in New York City, Washington, D.C., Boston, Los Angeles, Austin, and Palo …
https://en.wikipedia.org/wiki/Everlane
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wikipedia NEUTRAL — A sweatshop or sweat factory is defined as "a shop or factory in which employees work for long hours at low wages and under unhealthy conditions". Examples of unhealthy conditions include little to no…
https://en.wikipedia.org/wiki/Sweatshop
+ 3 more evidence sources
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“The deal, which was approved on Saturday, according to Puck”
CORROBORATED
Both Puck and other media reports citing Puck confirm the board approved the deal on a Saturday.
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web search NEUTRAL — Shein is reportedly acquiring Everlane for $100 million. Everlane faced financial distress with approximately $90 million in debt as of March 2026. The deal marks a major consolidation between an ethi…
https://azat.tv/en/shein-everlane-acquisition-ethical-fashio…
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web search NEUTRAL — Everlane, the formerly high-flying Millennial direct-to-consumer basics brand, is being sold to Shein by its majority owner, L Catterton, I’ve learned. The deal, which values the company at $100 milli…
https://puck.news/everlane-is-selling-out-to-shein/
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web search NEUTRAL — Chinese e-commerce giant Shein is acquiring US apparel retailer Everlane from majority owner L Catterton, according to media reports.The company’s board signed off on the deal Saturday, Puck said , ci…
https://www.bloomberg.com/news/articles/2026-05-18/e-commerc…
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“Shein... earned $2 billion in profits last year, according to Business of Fashion.”
SINGLE SOURCE
Only one specific web search result mentions Shein making $2 billion in profits last year; other results are general earnings reports or unrelated Wikipedia lists.
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web search NEUTRAL — Note that some record earning may be caused by nonrecurring revenue, like Vodafone in 2014 (disposal of its interest in Verizon Wireless)[1] or Fannie Mae in 2013 (benefit for federal income taxes).[2…
https://en.wikipedia.org/wiki/List_of_largest_corporate_prof…
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web search NEUTRAL — The figure means the brand more than doubled its profits from $700 million in 2022, surpassing its fast-fashion rival H&M. According to Barron’s, H&M reported a net profit of about $840 million in 202…
https://scienceandtechblog.com/shein-made-2-billion-in-profi…
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web search NEUTRAL — Amazon Reports Strong Q1 Earnings, Ad Revenue Up 19% Amazon reported strong Q1 2025 earnings with revenue of $155.7 billion, surpassing analyst expectations of $155 billion. Earnings per share (EPS) c…
https://www.linkedin.com/pulse/20250502-retail-update-amazon…
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“the sale represented... an opportunity to clear $90 million in debt that majority owner L Catterton, a private equity firm, had been seeking since March.”
CORROBORATED
Puck and other reporting sources confirm that Everlane had approximately $90 million in debt (specifically a $25m loan and $65m credit line) that L Catterton had been seeking to clear since March.
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web search NEUTRAL — As I reported in March, L Catterton and Everlane’s current C.E.O., Alfred Chang, had been searching for an investor to clear about $90 million in debt—a $25 million loan from Gordon Brothers, and a $6…
https://puck.news/everlane-is-selling-out-to-shein/
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web search NEUTRAL — Puck had reported in March that L Catterton and Everlane chief executive Alfred Chang had been searching for a new investor to address that debt load. They found a buyer in Shein.
https://thenextweb.com/news/shein-acquires-everlane-100m-l-c…
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web search NEUTRAL — As of March 2026, the company was said to be carrying roughly $90 million in debt while searching for new investors or strategic partners.L Catterton first invested in Everlane in 2020, and founder Mi…
https://ouispeakfashion.com/everlanes-reported-sale-to-shein…
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“L Catterton, a private equity firm”
VERIFIED BY REFERENCE
Wikipedia explicitly defines L Catterton as an American multinational private equity firm.
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web search NEUTRAL — L Catterton is an American multinational private equity firm. Founded in Greenwich, Connecticut in 1989, the fund has made over 250 investments in brands across all segments of the consumer industry.
https://en.wikipedia.org/wiki/L_Catterton
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web search NEUTRAL — L Catterton is proud to have been recognized as the largest and most experienced consumer-focused private equity group in the world.International Private Equity Firm of the Year. 2013, 2014, 2016 & 20…
https://www.lcatterton.com/
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web search NEUTRAL — $50-150m investments. L Catterton also has a real estate fund that invests as a co-developer in large scale, mixed-use projects anchored by luxury retail. L Catterton was formed in 2016 through the me…
https://fundcomb.com/funds/l-catterton
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“Everlane, founded by Michael Preysman”
VERIFIED BY REFERENCE
Wikipedia and other sources confirm Everlane was founded by Michael Preysman (along with Jesse Farmer).
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web search NEUTRAL — Everlane was founded in 2011 by Michael Preysman and Jesse Farmer as a direct-to-consumer online menswear retailer.
https://en.wikipedia.org/wiki/Everlane
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web search NEUTRAL — Everlane was founded by Michael Preysman in 2010. Michael Preysman is an American entrepreneur and businessman.
https://www.capitalism.com/everlane/
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web search NEUTRAL — But Everlane found a factory where denim by-product is turned into bricks and polluted…“Denim is a really dirty business,” says Michael Preysman, founder and CEO of Everlane, an online clothing retail…
https://medium.com/escalaesc/everlanes-quest-to-make-the-wor…
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“the early departure of Preysman and his marketing lead, Alexandra Spunt”
CORROBORATED
Reports from Business of Fashion (BoF) and other sources indicate the removal/departure of Alexandra Spunt and the stepping away of Michael Preysman from the business.
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web search NEUTRAL — Everlane was founded in 2011 by Michael Preysman and Jesse Farmer as a direct-to-consumer online menswear retailer.
https://en.wikipedia.org/wiki/Everlane
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web search NEUTRAL — Alexandra Spunt, left, the head of creative at Everlane, works out of the startup's sunny headquarters in San Francisco.Michael Preysman, founder and CEO of Everlane, swore for years that his online c…
https://www.businessinsider.com/how-everlane-took-on-jcrew-2…
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web search NEUTRAL — Everlane founder and CEO Michael Preysman.The brand removed chief creative officer Alexandra Spunt, who emerged as a particular focus of criticism last year. While similar scandals cost many CEOs and …
https://www.businessoffashion.com/articles/retail/beyond-dis…
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“In April, shoe brand Allbirds ditched its environmental mission and sold a portion of the company to AI”
CORROBORATED
Multiple sources report that Allbirds sold its footwear assets to American Exchange Group and rebranded/pivoted toward AI (NewBird AI).
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web search NEUTRAL — Allbirds is an American-New Zealand publicly traded company headquartered in San Francisco, California. It sells footwear and apparel and was co-founded in 2015 by New Zealand professional sportsman T…
https://en.wikipedia.org/wiki/Allbirds
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web search NEUTRAL — In late March, Allbirds sold its footwear assets to American Exchange Group, the company behind Aerosoles and Ed Hardy, for $39 million. NewBird AI will aim to "acquire high-performance, low-latency A…
https://sg.finance.yahoo.com/news/allbirds-stock-soars-nearl…
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web search NEUTRAL — Companies like CrowdStrike, which built its entire architecture on AI from day one instead of pivoting toward it when the cycle turned, are the opposite of the Allbirds trade. They own the endpoints.
https://www.forbes.com/sites/jonmarkman/2026/04/20/how-39-mi…
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.