Everlane, the retailer that has bucked the fast-fashion industry by promising affordable ethically sourced and sustainable clothing, is being acquired by the king of fast-fashion Shein.
A letter to Everlane employees from their CEO Alfred Chang confirming the deal was obtained by the Associated Press on Friday.
Everlane, based in San Francisco, did not disclose a purchase price.
Chinese firm Shein declined to comment.
Everlane's majority owner L Catterton could not be immediately reached for comment.
Everlane was founded in 2011 by Michael Preysman and Jesse Farmer with a mission to produce eco friendly and affordable clothing.
The company publicised regular audits of its pay and working conditions, as well as the brand's environmental impact.
The online retailer opened its first physical store in 2017.
