According to online luxury fashion retailer Everlane, “your designer clothes sell for eight times what they cost to make”.

Founded in 2010 by former venture capitalist Michael Preysman, the company charges a minimal mark-up for its designer basics and prides itself on being transparent about its operation and production process, revealing the costs and mark-up for every product it makes.

In 2016, it also introduced a one-hour delivery service to New York, after trialling it in San Francisco.

Everlane has raised $18m (£12m) to date and Preysman and his employees own a majority of the business. Sales grew 200% year-on-year in 2014 and sources say it recorded around $50m (£34m) in revenue last year, which it is aiming to double this year.