Everlane has been acquired by Chinese fast-fashion giant Shein for around $100 million, marking a dramatic shift for the once sustainability-focused brand. Co-founder Michael Preysman says he is “starting over” with a new venture called Still Radical, aimed at reviving Everlane’s original vision but with a firm “no venture capital, no private equity” approach. He also said he was not involved in the sale and only learned of it shortly before it was finalized, calling Shein “the opposite” of what he had hoped for the company. Founded in 2011 around “radical transparency,” Everlane struggled financially in recent years despite outside investment and eventual control by private equity firm L Catterton.