Everlane Founder Michael Preysman To Launch New Brand

BusinessRetailEverlane Founder Michael Preysman To Launch New BrandBySharon Edelson,Senior Contributor.Forbes contributors publish independent expert analyses and insights. I write about retail and the forces that are redefining shopping.Follow AuthorMay 26, 2026, 06:19pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.Everlane was sold to Shein last week. The former founder is launching his own brand in response. (Photo by Smith Collection/Gado/Getty Images)Gado via Getty ImagesIn response to the sale of Everlane to Shein, a deal that last week shocked and outraged customers and sustainability advocates, one of Everlane’s founders announced today the launch of a new brand with a new model, designed to truly sustain its values.Michael Preysman, co-founder of Everlane in 2011, served as CEO until 2022 and then as executive chairman for three years, before stepping down from the board earlier this year.Preysman was appalled by the purchase Everlane by Shein and the outcome for the company that he’d built around radical transparency. The brand struck a chord moving from the perfect T-shirt to a full assortment. Everlane’s ethos was about sustainability and transparency. Everlane lists the factories it uses and they’re audited and named. Everylane also publishes material, labor and transport costs alongside its retail pricesThe company had is heyday around 2015 and for the next five years, the brand soared. It faltered during the pandemic and wasn’t able to regain its equilibrium.In today’s announcement, Preysman said he plans to build a brand around the same core values, but this time around, the company will be free from venture capital and private equity ownership.That’s a rebuke to Everlane majority owner L Catterton. The private equity firm and Everlane CEO Alfred Chang were looking for an investor to contend with roughly $90 million in debt. The debt load, combined with declining sales and o...