When Michael Preysman, a co-founder of the sustainable clothing retailer Everlane, heard that the brand would be acquired by fast-fashion giant Shein, he was stunned. An early investor called to ask if he had heard the rumor, so he texted the company's CEO to confirm. Yes, a brand built on a commitment to "radical transparency" that offered shoppers a look into the opaque world of garment manufacturing was being bought by one of the key players in fast fashion.