Everlane Still Wants to Be a $1 Billion Brand. Is That Even Possible?

A year ago, Everlane seemed like just another casualty of the direct-to-consumer downturn.

Like Allbirds, Parade and other troubled fashion start-ups, the basics brand was caught between growing competition, ballooning online advertising costs and investors who had suddenly pivoted their expectations from explosive growth to profitability.

Everlane struggled to meet either goal. Sales fell 3 percent in 2022, and the company had to take on debt…