Emperor Evulz is killed in the end, but ultimately succeeds in his goals.
The heroes find that they are not strong enough to destroy the villain, so the villain and hero wind up negotiating, and coming to a compromise in which both of their goals are partially achieved, but neither is achieved completely.
Emperor Evulz only comes dangerously close to winning.
Emperor Evulz is actually an Anti-Villain who is fighting for a noble cause, but his reprehensible Utopia Justifies the Means actions are what set Alice and Bob against him. While they defeat Emperor Evulz, they then take up his cause and achieve it themselves. While Emperor Evulz's own efforts may have failed, his original goal is ultimately achieved, so in a sense he still wins.
Double Subverted: Emperor Evulz eventually gets reimbursed...