Shein eyes Everlane
Chinese ultra fast fashion group Shein is expected to acquire Everlane in a deal that values the eco-minded DTC brand $100 million, as reported by Puck News. Everlane is currently owned by L Catterton, a private equity firm formed by Catterton, LVMH and Groupe Arnault, a family holding company of Bernard Arnault.
In the fashion sector, L Catterton has invested in Ganni, A.P.C., Birkenstock and Ba&sh as well as in ThirdLove (lingerie) and Sweaty Betty (activewear). Change may be underway as it has recently divested JOTT, Just Over The Top, a French maker of puff jackets, and is said to be looking to sell Rihanna’s brand Fenty and other cosmetics labels.
This marks the second millennial-favoured eco-brand to be on a change of course, following Allbirds’ unexpected pivot to artificial intelligence.
