Private Equity 3 Hours

Last updated: May 18, 2026, 5:31 AM ET

Private Equity

L Catterton exited Everlane by selling its majority stake to Shein at a $100 million valuation, a dramatic write-down for the US apparel brand that was once a celebrated direct-to-consumer darling. The deal reflects a broader trend of Chinese e-commerce platforms acquiring distressed Western consumer brands as valuations across the sector reset sharply.