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

Key points

• Shein buys Everlane, which sold millennials the dream of ethical, affordable luxury toggle caption Smith Collection/Gado/Getty Images Shein, the ultrafast-fashion juggernaut, is buying Everlane, a brand that once pitched millennial shoppers on a vision of fashion with "ethical factories" and "radical transparency" into how its clothes were made and priced.
• "This is the start of a bigger chapter for Everlane and the team behind it," CEO Alfred Chang said in a statement shared with NPR.
• He did not disclose the size of the deal, but added that Everlane would remain "an independent brand, staying true to our longstanding brand values, sustainability commitments, and exceptional quality." Buying California-based Everlane gives Shein a bigger U.S. foothold and access to a higher-end online-retail model.
• Shein was founded in China but has ballooned into a global giant, up on the latest TikTok micro-trends with dresses under $15 and jewelry under $5. Sponsor Message Shein...