Maddison Sullivan-Thorpe

I mean, what's so fascinating to me is like I kind of want to go back to a time where Everlane was in its glory days because for me the price that it sold for was a little surprising.

Like it sold for $100 million USD.

Look, and $100 million shocked me.

And I know that that sounds crazy to say that something being sold for $100 million, you know, isn't a lot of money.

But in the world of acquisitions, and you think about the numbers that have been flying around recently, we had Road for a Billion USD, we had Touchland Hand Sanitizer, over 800 million USD, and this brand's only years old.

But why this surprised me was because Everlane was such a big conglomerate.

But the reason for only $100 million when I did a little bit of digging was that they're actually $90 million in debt.

And that was tied to basically years-long slump in sales.

They had taken out a $25 million Gordon Brothers loan and had $65 million asset-based credit line with another bank.

And that came from a great Instagram account called Traded VC.

So suddenly the $100 million...

felt kind of expensive.

I'm really fascinated to get your thoughts on this.

Do you think this is Shein's play at looking more sustainable or this is Shein's play at just buying a massive database that I assume Eveline have?

Yeah.

I mean, it feels a bit greenwashy to me because we're looking at a brand with $90 million worth of debt.

I'm willing to bet that Shein's, you know, profit and loss statement isn't an unhealthy one given the volume and the margins that they would be selling at despite the low price points.

I just can't see them continuing how Everlane have been manufacturing and producing if it has been at such a loss.

And I guess the question that I come back to in all of this is, does the sustainability brand in fashion get to work?

Does it get to win or is the win when you just get the paycheck at the end?