Everlane founder Michael Preysman teases new brand following Shein sale
Shortly after Everlane confirmed its acquisition by Chinese fast fashion retailer Shein, co-founder Michael Preysman announces plans for his next venture in fashion.
Preysman said in a statement that he is “starting over” and aims to “bring back the vision of Everlane” through a new brand, although specific details have not yet been disclosed.
The project is currently operating via the website stillradical.com, with its landing page stating: “Same principles, but a new take. And this time: no venture capital, no private equity.”
It comes after Shein snapped up Everlane from American private equity firm L Catterton for around $100 million last week.
Preysman expressed disappointment over Shein’s acquisition of the US clothing brand, saying he was not involved in the deal and learned of it "20 minutes before [its finalisation]".
"The idea that this would happen wasn’t something I ever imagined. They’re the opposite of what I wanted," he told Vogue.
Preysman co-founded Everlane in 2011 alongside Jesse Farmer, building the brand around sustainability and “radical transparency”.
Headquartered in San Francisco, the brand initially gained attention for its sustainability-focused positioning. However, the company has faced prolonged financial strain and rising debt in recent years, despite a $25 million loan from Gordon Brothers, the US investment firm that acquired Radley this week.
In 2020, L Catterton acquired a majority stake in the company and Preysman stepped down as CEO in 2022. He later founded an electrolyte beverage brand in 2024 and left Everlane’s board last year, citing disagreements over the brand’s direction.
