Michael Preysman, the founder of Everlane, is launching a new fashion brand that will operate without venture capital or private equity funding [1].
The move signals a return to independent ownership for Preysman after the sale of Everlane to the fast-fashion giant Shein [1, 2]. By avoiding external institutional funding, Preysman aims to maintain control over the company's operational direction and ethics.
Reports indicate that the new project is intended to preserve the original values that defined Everlane during its early years [1, 2]. This approach contrasts with the traditional scaling model of modern direct-to-consumer brands, which often rely on heavy infusions of capital to grow rapidly.
Preysman has already established a digital presence for the upcoming venture. The new brand website is currently active but limited in scope, serving only to collect email addresses from interested customers [4].
Details regarding the specific product line, pricing, or official launch date have not yet been disclosed [1, 3]. The project remains in a teasing phase as Preysman builds a preliminary audience list through the landing page [4].
This transition follows a period of significant change for Everlane. The company's acquisition by Shein shifted its corporate structure and ownership, prompting Preysman to seek a model that prioritizes value-driven growth over investor-led expansion [1, 2].
“Michael Preysman is launching a new fashion brand that will operate without venture capital or private equity funding.”
Preysman's decision to eschew venture capital suggests a growing skepticism toward the 'growth at all costs' model that has dominated the e-commerce sector. By bootstrapping a new venture, he is attempting to decouple brand identity from the pressures of private equity exits, potentially positioning the new label as a sustainable alternative to the fast-fashion ecosystem represented by Shein.
