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Ultrafast-fashion leader Shein has finalized its acquisition of US retailer Everlane for an estimated $100 million. This seemingly mismatched deal, combining Shein's rapid production with Everlane's "radical transparency," signals a significant strategic shift for Chinese e-commerce giants, aiming for diversified market reach and potentially new operational insights.
Smartsheet has announced four C-suite changes, including two new hires and two promotions, as CEO Rajeev Singh continues to build his leadership team after recent layoffs. Separately, fashion rental startup Armoire has appointed Morgan Cundiff as head of product and machine learning. Additionally, long-time Microsoft director Javier Páramo has launched AIQLinea, a new Redmond-based startup focused on guiding companies through AI adoption strategies.
A technology product named "Pickle Clothing Rental App" aims to help users stay current with fashion trends through a rental model. While the concept aligns with broader shifts in consumer behavior towards access over ownership in fashion tech, specific operational details or launch information about the Pickle app are not available from the provided source, "NYT Technology."
Etsy has sold its secondhand clothing marketplace, Depop, to eBay for $1.2 billion. This deal comes nearly five years after Etsy acquired Depop for $1.62 billion, at a time when secondhand clothing apps were gaining significant traction during the pandemic, marking a new chapter for the popular fashion platform.
