Shein acquired Everlane for $100m (vs. peak valuation of $550m).
The Chinese fast fashion platform can use Everlane’s 11 stores in US to avoid tariffs.
Reports say clothes from this 767,000 sqft warehouse will come first. Based in Shanghai, it has total inventory value of $89.
🚨Update: Cartel controlled Mexican President Claudia Sheinbaum was humiliation by the US! The Mexican government decided to protect Cartel Governor Rocha Moya and has spent days demanding proof from the United States.
The end of the story? NO! Mérida Sánchez, former security secretary, and Díaz Vega, former finance secretary of Gov. Rocha Moya, decided to turn themselves in to the US to provide all the evidence against the Narco politicians!!
Critics call the reported sale of Everlane to Shein hypocrisy. Others say matching fast fashion’s speed and volume is the only way forward for sustainability.