On Friday, Shein, the ultrafast-fashion giant, completed its acquisition of Everlane, a US clothing retailer known for its radical transparency. The deal, valued at $100 million, has left many online feeling both darkly ironic and dystopian.

Giving rise to this merger is a broader trend where Chinese companies are moving beyond anonymous low-cost production towards owning recognizable global brands associated with quality, lifestyle, and status. Pinduoduo’s New PinMu initiative, for instance, aims to help Chinese manufacturers build premium international brands, while Luckin Coffee has acquired the cultish specialty coffee brand Blue Bottle.

The shift also reflects broader political pressures inside China, where the government now wants companies to focus more on sustainable growth and global competitiveness. As such, Shein buying Everlane is part of a larger strategy for Chinese commerce and manufacturing: owning brands rather than just being behind them.

As for Everlane? The company has lost much of its cultural relevance in recent years and was facing significant financial headwinds. Its acquisition by Shein was the more efficient route to building that kind of recognizable American brand, which took years to cultivate from scratch.