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Michael Preysman

Founder, Everlane

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The BoF 500 is the definitive professional index of the people shaping the $2.4 trillion fashion industry, hand-selected by the editors of The Business of Fashion, based on hundreds of nominations received from current BoF 500 members, extensive data analysis and research.

Biography

At the age of 25, Preysman founded direct-to-consumer brand Everlane, leveraging social media and the internet to bypass middlemen, keeping prices low and margins high. Everlane’s commitment to “radical transparency” and focus on high-quality, honestly priced basics has resonated with consumers and the company is reportedly valued at “north of $250 million.”

Preysman attended Carnegie Mellon University in Pittsburgh, where he achieved a dual degree in engineering in economics. After graduating, he worked for three years in private equity at Elevation Partners.

With what he describes as a deep passion for design, branding and storytelling, Preysman founded Everlane in San Francisco in late 2010. The brand began by selling high-quality t-shirts with a minimalist aesthetic at a fraction of the cost of other retailers, routing around the inefficiencies of fashion's traditional wholesale system, which suffers from the high overhead costs of operating physical stores, plus the mark-ups applied by traditional distributors like department stores and boutiques, resulting in basic items such as t-shirts often priced up to eight times what they cost to make.

Everlane discloses on its website exactly how much each of its products cost the company to make, alongside Everlane's retail price and what these products would likely cost a traditional store.

To date, Preysman has raised $18 million in funding from investors including Lerer Hippeau Ventures, Maveron and 14W. In 2014, Preysman appointed former Gap creative director Rebekka Bay as head of product. The company has now offers a full range of womenswear and menswear, along with leather goods and shoes.

In 2015, Preysman was included in Forbes' annual “30 Under 30” list for his work with Everlane and for "reinventing retail and e-commerce."

Education

Carnegie Mellon University

Carnegie Mellon University

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Vital Statistics

Born
1985
Nationality

United States

Location
United States

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