Photo via Fast Company
When news broke in May that Everlane had been acquired by Chinese fast-fashion giant Shein, founder Michael Preysman learned about the deal the same way the rest of the business world did—through media reports. The Everlane founder, who had already exited the company after LVMH's venture arm bought a majority stake in 2020, took to LinkedIn to express his shock and bewilderment at the outcome.
Rather than remain a bystander, Preysman announced Still Radical (stillradical.com), a new venture that explicitly rejects the venture capital and private equity models that fueled Everlane's growth. According to Fast Company, the bare-bones website promises a return to Everlane's original mission—sustainable fashion and ethical manufacturing—but with a fundamentally different approach to funding and scaling.
Preysman's pivot reflects a broader disillusionment with how venture-backed apparel companies evolve. Everlane, which became a $250 million-valued company by 2016, eventually slowed in growth, experienced multiple layoffs, and ultimately sold to a retailer whose business model directly contradicts its founding principles. The journey highlights a critical tension: whether rapid growth through external capital can remain compatible with mission-driven values.
For Dallas-area entrepreneurs and investors, Still Radical offers a cautionary tale and a case study. As the region continues to develop its startup ecosystem and attract venture attention, founders should consider whether VC-fueled growth trajectories inevitably push companies away from their core values. Preysman's decision to bootstrap his next venture suggests he believes sustainable businesses may require patient, mission-aligned capital rather than high-growth institutional investment.
