IMO this Everlane acquisition by Shein is probably the final nail in the coffin for the niche optimism around good branding, values, and customer goodwill being enough to sustain a brand that was rampant in the 2010s.
Brutal- Everlane was supposed to be the anti-SHEIN, now acquired by SHEIN for $100M It was a VC darling when it launched, raising from KP, Khosla, Maveron and others (~$145M raised) I think the bet was that consumers would pay more for ethical, sustainable basics, and that
1) Millennial ethical mid-range brands are dead/dying and selling for parts. Gen Z is driving a new culture cycle that splits high/low (luxury or vintage/thrift). 2) Conscious consumerism identity has migrated more to digital consumption (what you watch, which apps you use,