Everlane co-founder Michael Preysman is launching a new apparel brand, “Still Radical,” following the sale of Everlane to Chinese fast-fashion company Shein.
The name is a nod to Everlane’s trademarked tagline “radical transparency,” reflecting an ethos of sustainability and supply chain integrity. Preysman, who co-founded Everlane in 2011, left the company’s board earlier this year. He spent 11 years as its CEO and then three as executive chair.
Preysman found out about the deal to sell to Shein last week, about the same time that most people did, as news reports swirled, according to a spokesperson, who described him as being “appalled.” Everlane confirmed the tie-up on Friday.
For now, the Still Radical website is collecting emails rather than selling clothes and features a statement from Preysman. At press time, nearly 4,000 emails had been shared, and counting.
“I started Everlane in 2011. Last week, the current management team sold it to Shein. So we’re starting over,” he said. “Same principles, but a new take. And this time: no venture capital, no private equity.”
That financing put pressure on Everlane and contributed to quality declines and supply chain changes that have disappointed customers in recent years, according to DeAnn Campbell, founder and chief strategy officer at StoreWyse.
“They'd been transitioning to fast fashion long before Shein even entered the picture,” she said. “It’s a shame because when they opened for business, they were really among the first with this really interesting direct-to-consumer model, and they had a really attractive value proposition.”
