First, it was Allbirds; now it’s Everlane, another one-time darling of the DTC world reduced to selling itself to a most unlikely suitor. Everlane, which brought a new sense of values and design to the fashion world, is being acquired by Shein, the Chinese-derived direct seller best known for cheap knockoffs and highly disposable merchandise. This follows Allbirds fire sale to a brand aggregator and, just to make matters worse, its announcement that it was transitioning into some sort of an AI company. Really? Everlane at least will apparently stay in the apparel business but under Shein’s control, it will no doubt move in a different fashion, pricing and sustainability direction. But let’s not overlook an ironic twist in this story: Everlane’s Miss is Shein’s Hit. It gets a well-known brand that. at least for the time being, is likely to be a real attraction on its website. Remember when the direct-to-consumer guys were going to reinvent the retail business? It wasn’t all that long ago. Sigh.