Michael Preysman
Co-founder of Everlane
Michael Preysman is the entrepreneur who co-founded Everlane, the direct-to-consumer brand that popularised 'radical transparency' by publishing the cost of making its products. He stepped down as chief executive in 2022, and in 2026, after Shein agreed to acquire Everlane, he announced a new label.
| Role | Co-founder of Everlane |
|---|---|
| Co-founder | Jesse Farmer |
| Everlane founded | 2011 |
| CEO until | 2022 |
| New venture | Announced May 2026 (stillradical.com) |
Who is Michael Preysman?
Michael Preysman is the co-founder of Everlane, which he started with Jesse Farmer in the early 2010s. Everlane became one of the best-known digitally native fashion brands in the United States, built on basic wardrobe items and the promise to show customers how much each product cost to make and how much the brand marked it up.
Career
Under Preysman's leadership Everlane grew from an online start-up into a widely known national brand. Its marketing emphasised radical transparency: publishing what each item cost to produce alongside its retail price. In 2020 the private equity firm L Catterton acquired a majority stake.
- 2011: Everlane established by Preysman and Jesse Farmer
- 2022: steps down as chief executive
- May 2026: Shein agrees to acquire Everlane for about 100 million dollars
- May 2026: announces a new brand via the website stillradical.com
After leaving the chief executive role, Preysman later also left the company's board, citing disagreements over the brand's direction. When Shein agreed in May 2026 to buy Everlane, which had accumulated significant liabilities, Preysman said he had learned of the deal shortly before it was finalised and described Shein as the opposite of what he had wanted. He then teased a new venture whose landing page states: "Same principles, but a new take. And this time: no venture capital, no private equity."
Influence on the fashion business
Everlane's transparent pricing put pressure on traditional retail markups and influenced how a generation of direct-to-consumer brands communicated value, sourcing and ethics. The model also showed the limits of venture-funded growth in apparel. The sale of a brand built on sustainability messaging to Shein, one of the largest ultra-fast fashion companies, was widely discussed as a symbol of the difficulties facing sustainable fashion business models.
Why it matters
Preysman's career captures the arc of the direct-to-consumer wave in fashion: rapid growth through digital marketing and a clear values proposition, followed by the pressures of profitability, outside capital and competition. His new project, explicitly funded without venture capital or private equity, will be watched as a test of whether transparency-led brands can grow on a different financial footing.
Frequently asked questions
Who is Michael Preysman?
Michael Preysman is the co-founder and former chief executive of Everlane, the American direct-to-consumer brand known for publishing the cost of making its products. He stepped down as CEO in 2022.
What did Michael Preysman say about Shein buying Everlane?
According to TheIndustry.fashion, Preysman said he learned of the sale only shortly before it was finalised and called Shein the opposite of what he had wanted. He then announced a new brand funded without venture capital or private equity.