The quiet death of conscious consumerism, from Everlane and Allbirds to Beyond Meat
The rise of conscious consumerism appears to be waning as brands like Everlane and Allbirds struggle to maintain their market positions. Everlane's recent acquisition by Shein for a fraction of its peak value highlights the challenges faced by companies that once thrived on ethical branding. As consumer preferences shift towards price and convenience over sustainability, the limitations of conscious consumerism become increasingly evident.
- ▪Everlane was acquired by Shein for $100 million, significantly lower than its peak valuation of $600 million.
- ▪Allbirds announced it would sell itself for $39 million, just 1% of its peak value, and plans to pivot to AI infrastructure.
- ▪Beyond Meat has seen a revenue decline as consumers prefer real meat and has rebranded to focus on protein drinks.
Opening excerpt (first ~120 words) tap to expand
When Everlane burst onto the apparel scene in 2010, its “radical transparency” on matters of pricing and sourcing, coupled with its emphasis on a clean, modern aesthetic and storytelling about the people and places behind its product, made it a hit with millennials seeking chic wardrobe basics, along with the warm and fuzzy feeling of being a responsible consumer.Recommended Video Those millennials professing to “vote” with their dollars placed greater weight on sustainability, authenticity, and companies being good corporate citizens than their elders did and saw such virtues as perhaps just as important as the functionality or beauty of the products themselves.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Fortune.
Discussion
0 commentsMore from Fortune
