SHEIN may be buying Everlane, a formerly sustainable Millennial fave. Everlane’s business boomed in the mid-2010s, selling Millennials minimalistic staples that promised eco-friendliness and transparency. In contrast, SHEIN has long been criticized for the negative environmental impacts fast fashion has. However, YPulse data has long shown young consumers often put price before their ethical values. And when Gen Z is looking to shop sustainably, they’re more likely to go the secondhand route for more unique pieces. Both price and aesthetic seem to have taken Everlane’s value down; Millennials bought into sleek, office-appropriate minimalism, but Gen Z doesn’t feel the need to spend on that. Neither brand is confirming the sale just yet, but if the rumors are true, SHEIN will acquire it for $100M (a fraction of its $600M peak valuation). (LA Times, NYT)
👀 Read more from YPulse: Why Gen Z Cares About Being Green, But Doesn’t Always Buy That Way
