NEW YORK (AP) — Everlane, the retailer that bucked the fast-fashion industry by promising affordable ethically sourced and sustainable clothing, is being acquired by the king of fast-fashion Shein, founded in China. A letter to Everlane employees from CEO Alfred Chang confirming the deal was obtained by The Associated Press on Friday. Everlane, based in San Francisco, didn’t disclose a purchase price. Shein declined to comment. Everlane’s majority owner L Catterton couldn’t be immediately reached for comment. Everlane was founded in 2011 by Michael Preysman and Jesse Farmer with a mission to produce eco friendly and affordable clothing. The company…
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