Shein, the most criticized Chinese ultra-fast fashion group, is said to have acquired one of the US most sustainable and committed fashion brands–Everlane.

According to the American press, the L Catterton luxury holding, its main shareholder, has sold the brand for US$100 million. 

From a note sent out to its investors on Saturday 16 May, Everlane’s common shareholders are not expected to receive any payment. It is unclear, however, whether preferred shareholders will be paid in cash or with shares in Shein itself.

Everlane is known for its long-standing commitment to offering products made according to sustainability criteria and for setting a goal of using 100% sustainable materials by the end of 2025.

The companies involved have not issued any comment.