Shein Acquires American Brand Everlane for $100 Million
Everlane, a Millennial direct-to-consumer basics brand, is being sold to Shein for $100 million. The acquisition deal has been approved by Everlane's board. Common stockholders will not receive a payout as a result of this transaction. This acquisition marks a move for Shein in expanding its market presence. Fast-fashion retailer Shein has acquired Everlane.
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