business / news / / The New York Times
L Catterton, the private equity firm backed by luxury conglomerate LVMH, sold its majority stake in Everlane.
Shein has acquired Everlane, previously majority-owned by L Catterton, for a reported $100 million.
KEY POINTS
- Everlane will continue to operate as an independent brand and maintain its sustainability commitments.
- Everlane's CEO Alfred Chang will remain in his role after the Shein acquisition.
- The acquisition follows Everlane's recent financial struggles and existing debt issues.
COMPANIES
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