Online fast-fashion giant Shein is acquiring US apparel brand Everlane from private equity firm L Catterton in a deal valued at approximately $100 million. The transaction marks a significant valuation drop from Everlane’s e-commerce boom peak, as the San Francisco-based brand struggled to sustain growth while carrying approximately $90 million in debt. According to media reports, holders of common stock will not receive a payout, and it remains unclear how preferred shareholders will be compensated. The deal brings together contrasting retail models — Everlane’s minimalist “quiet luxury” aesthetic and Shein’s ultra-fast-fashion ecosystem — and follows Shein’s efforts to diversify revenue and open its supply chain to external brands.

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