Everlane

In 2010, Michael Preysman founded Everlane with software developer Jesse Farmer.⁠[1]

In October 2011, Everlane raised $1.1 million from investors including Kleiner Perkins, SV AngelSV AngelSV Angel is a San Francisco venture capital firm cofounded in 2009 by angel investor Ron Conway and former Google executive David Lee. It typically writes small follow-on checks in seed rounds and has invested in companies such as Airbnb, Pinterest, and Dropbox; in 2018 it said it would no longer raise new funds from outside investors, and from 2022 it set up growth funds.Open the full entry, Lerer Ventures and Betaworks; it planned to open its members-only site on November 1, with all goods priced under $100.⁠[2]

Within three months of launch Everlane began giving customers pricing transparency, and after the 2013 Rana Plaza garment factory collapse in Bangladesh it added factory transparency.⁠[3]

On Black Friday, November 23, 2012, Everlane shut its site for the day; Preysman said the excess around Black Friday had shifted the focus to “quantity over quality.”⁠[4]

In December 2012, Everlane opened a two-week holiday pop-up store at 74 Gansevoort in New York, closing on December 16; the company then had 400,000 active members, sold U.S.-made T-shirts for $15 and sourced cashmere directly from Mongolia.⁠[5]

In September 2014, Everlane and delivery platform Postmates launched Everlane Now, letting San Francisco customers order select items on weekdays from 9 a.m. to 6 p.m. for delivery within about an hour.⁠[6]

In July 2015, Everlane launched its first iOS app; the company’s 2013 revenue was $12 million, it had raised $9 million in venture funding, and it had hired Gap’s former creative director Rebekka Bay as head of design.⁠[7]

PrivCo estimated Everlane’s 2016 revenue at $100 million, and the company said it was profitable; in December 2017 Everlane opened its first store in Nolita, Manhattan, and planned more stores in 2018, starting in San Francisco.⁠[8]

In March 2018, Everlane opened a store in a century-old building on Valencia Street in San Francisco, designed by its in-house team with New York studio Leong Leong; previously it had only a small showroom at its San Francisco headquarters.⁠[9]

On June 2, 2020, a charge against Everlane, Inc. was filed with Region 20 of the National Labor Relations Board (case 20-CA-261166), alleging 8(a)(1) “Coercive Rules”; on August 21 the NLRB approved a unilateral settlement agreement and issued a dismissal letter, and the case is closed.⁠[10]

In late 2020, private equity firm L Catterton acquired a minority stake in Everlane.⁠[11]

L Catterton, which is linked to LVMH, invested $85 million in Everlane.⁠[12]

In September 2021, Everlane named Andrea O’Donnell, president of Ugg for five years, as CEO: she joined on October 6 and took over on January 1, 2022, with Preysman becoming executive chair; that year the company also hired Sophie Bambuck from Nike as chief marketing officer and Shu Hung as global creative director.⁠[13]

In November 2022, Gordon Brothers announced a $25 million term loan to Everlane to support its growth.⁠[14]

On October 1, 2024, Everlane appointed Alfred Chang as CEO, effective immediately; he had been CEO of Fear of God and earlier spent 17 years at PacSun, ending as co-CEO. His predecessor Andrea O’Donnell had moved to Designer Brands in January.⁠[15]

In March 2026, majority owner L Catterton began shopping Everlane to buyers.⁠[16]

In April 2026, Everlane said it would exit its San Francisco headquarters at 2150 Folsom Street by the end of May; two landlords sought back rent, one raising his claim to $119,817.30 and filing an unlawful detainer, which the company called a “routine procedural step” in a planned exit.⁠[17]

On May 16, 2026, Everlane’s board approved the sale of the company by L Catterton to Shein in a deal valuing it at $100 million; a note to shareholders the next day said common stockholders would receive no payout.⁠[18]

Before the deal, Everlane carried about $90 million in liabilities, comprising a $25 million Gordon Brothers loan and a $65 million asset-based revolving credit facility; L Catterton and Alfred Chang had sought outside investment, and Shein opted for full ownership.⁠[11]

In August 2026, the Committee on Foreign Investment in the United States (CFIUS) was reviewing the deal on national security grounds, focusing on Shein’s purchase of a company that processes U.S. citizens’ personal data; the $80 million deal had closed in May, Shein voluntarily filed after closing, and the outcome was unclear.⁠[19]

Shein hired Phil Ludvigson, a King & Spalding lawyer and former U.S. Treasury official, for the filing.⁠[20]

Everlane’s website calls its approach “Radical Transparency,” revealing material, labor and transportation costs, auditing partner factories on wages, hours and environment, and donating Black Friday profits to improve factory workers’ lives.⁠[21]

Everlane: Official website: https://www.everlane.com/ (opens in a new window)⁠[21]

YouTubeYouTubeYouTube is Google’s video-sharing and creator platform, founded in 2005 by Steve Chen, Chad Hurley, and Jawed Karim and acquired by Google in 2006. Built around video uploading, viewing, and creator earnings, the platform has developed Shorts, YouTube Music, Premium, YouTube TV, and products for children, and is headquartered in San Bruno, California, United States.Open the full entry: Official account: https://www.youtube.com/everlane (opens in a new window)⁠[21]