San Francisco, CA – Direct-to-consumer (DTC) brand Quince has achieved a valuation exceeding $4.5 billion in a new financing round, a figure that more than doubles its valuation from just six months prior. The latest investment, reportedly led by Iconiq, signals robust investor confidence in Quince's "low-priced luxury" business model amidst a dynamic retail landscape.
The news was highlighted by journalist Katie Roof, who stated in a tweet, "Feel like I’m back in 2021 with a scoop about a direct-to-consumer brand. Insta famous Quince is valued above $4.5b in a new financing round, more than double its valuation from just 6 months ago." This rapid increase underscores the company's significant growth trajectory. The funding round is estimated to be around $200 million, according to sources familiar with the deal.
Quince, founded in 2018, has distinguished itself by offering high-quality fashion and home goods at accessible prices. The company employs a manufacturer-to-consumer (M2C) retail model, shipping products directly from factories to consumers. This approach minimizes overhead costs and environmental waste, enabling Quince to provide what it terms "radically fair prices" for items like cashmere sweaters and silk dresses.
The latest valuation follows a successful Series C funding round in January 2025, where Quince raised $120 million. That round was co-led by Notable Capital and Wellington Management, with participation from other institutional investors. The consistent influx of capital reflects investor belief in Quince's ability to disrupt traditional retail by delivering luxury quality without the premium price tag.
The company's rapid ascent and substantial valuation are indicative of a resurgence in investor interest in well-positioned DTC brands. Quince's strategy of bypassing traditional retail markups resonates with consumers seeking value and quality. This model has allowed Quince to quickly expand its product categories and market reach, attracting a broad customer base through platforms like Instagram and TikTok.