E-Commerce Giant Shein Buys Apparel Brand Everlane, Reports Say

Chinese e-commerce giant Shein is acquiring US apparel retailer Everlane from majority owner L Catterton, according to media reports.

The transaction values the San Francisco-based company at about $100 million, a steep discount to the valuations it commanded during the height of the e-commerce boom, Puck and The Information reported. The company’s board signed off on the deal Saturday, Puck said, citing a person with knowledge of the matter.

Holders of common stock won’t receive a payout, according to a note sent to shareholders on Sunday morning, Puck said. It remains unclear whether any cash will change hands ...