economy
Fast-fashion retailer Shein to buy Everlane for $500 million, Puck reports
Fast-fashion giant Shein is about to get even bigger. Over the weekend, the Chinese-owned retailer approved plans to buy American brand Everlane for $100 million, according to Puck. Lauren Sherman, CBS News contributor and fashion correspondent for Puck, joins with the details.
TL;DR
- Shein has approved plans to buy American brand Everlane.
- The acquisition price is reported to be $100 million.
- The deal was reported by Puck, with details provided by Lauren Sherman.