Chinese e-commerce giant Shein is purchasing US-based apparel retailer Everlane from majority owner L Catterton, according to multiple media reports.
The acquisition marks Shein's expansion into established apparel brands as the fast-fashion retailer continues to grow its US market presence. Everlane, known for its direct-to-consumer model emphasizing transparency and sustainable practices, will operate under Shein's portfolio.
L Catterton, the investment firm backed by LVMH, had been Everlane's majority shareholder. Financial terms of the deal were not disclosed.
Shein has rapidly scaled its operations in recent years, becoming a major competitor to retailers like Amazon and Zara. The company has faced scrutiny over labor practices and sustainability concerns, while Everlane has positioned itself around ethical production and radical transparency about manufacturing costs.
The acquisition consolidates two brands with contrasting market positioning—Shein's ultra-low-cost model and Everlane's premium-conscious approach. Details on how the brands will operate post-acquisition remain unclear.
Blue Origin has secured a NASA contract to build a high-performance telecommunications orbiter for Mars. The system must be operational by December 31, 2028.
Reliance's JioHotstar is expanding internationally to the UK, Canada, and Singapore with entertainment content only, shedding its sports offerings for these markets.
Apple has unveiled forensic evidence recovered from a former employee's MacBook as part of its legal case against OpenAI. The discovery reportedly contains material the company describes as significant to the litigation.
Amazon Web Services is partnering with Amazon MGM Studios to create a generative AI film fund and production platform targeting emerging filmmakers. The initiative aims to expand entertainment options for Gen Z audiences.