Source: Fortune.com
Summary
Everlane, a fashion brand known for its “radical transparency” and emphasis on sustainability, has been sold to fast-fashion brand Shein for $100 million, a fraction of its peak value. This news has sparked discussions about the demise of “conscious consumerism” and the idea that ethical practices are not enough for a brand to succeed. Other brands, such as Allbirds and Beyond Meat, have also struggled to maintain their value proposition and identity in the market.
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The strategy enters a familiar phase.
Everlane’s sale to Shein marks the end of an era for “conscious consumerism.” The brand’s focus on sustainability and transparency was not enough to sustain its business model. Allbirds and Beyond Meat, two other brands that emerged during this era, have also struggled to maintain their value proposition. Dipanjan Chatterjee, a Forrester Research analyst, notes that consumers prioritize factors such as price, convenience, and design over sustainability.
Everlane’s generic clothing and vague promises about its products’ origins were not enough to convince consumers to pay a premium. The brand’s demise suggests that consumers do not see ethical and sustainable practices as a reason to pay more.
The numbers tell one story: consumers are not willing to pay a premium for sustainability alone.
Author: Evan Null
