Shein buys Everlane, which sold millennials the dream of ethical, affordable luxury - NPR

Shein has acquired Everlane, the clothing brand once built around promises of ethical factories and radical transparency, after Everlane’s finances weakened. The purchase raises questions about whether Everlane’s existing shoppers will be alienated or whether Shein can use the label to move portions of its customer base upmarket. The deal is part of a broader pattern of consolidation and overseas expansion among fashion and beauty players.