Games & Commerce
U.S. fashion brand Everlane to be sold to Shein for $100 million amid debt burden
U.S. fashion brand Everlane will be sold to Chinese fast-fashion company Shein for about $100 million, with the deal already approved by both boards, online media outlet Gigazine reported. Everlane, founded in 2011, grew by promoting sustainability and transparency through a direct-to-consumer model. In recent years, slowing growth and weaker profitability increased its financial burden. It had about $90 million in debt as of March and had sought new investors.
