Quince, the U.S.-based brand known for offering high-quality products at accessible prices, has raised $200 million in a new funding round, pushing its valuation past $4.5 billion, according to a report by Bloomberg. The round was reportedly led by Iconiq Capital, the investment firm managing the assets of prominent Silicon Valley figures, including Mark Zuckerberg and Jack Dorsey.
Earlier this year, Quince raised $120 million in a Series C round, bringing its total capital raised to $461.5 million. According to data from Crunchbase, the amount Quince has raised in the past year alone is equivalent to the total venture funding secured by the entire fashion and apparel startup sector during the same period.
Founded in 2018 in California, Quince operates under an “affordable luxury” model, offering products such as $50 cashmere sweaters made with premium materials but priced for accessibility. The company employs a Manufacturer-to-Consumer (M2C) approach, delivering products directly from factories to consumers. By eliminating traditional distribution layers, Quince reduces costs while maintaining quality.
This transparent pricing model and refined design aesthetic have resonated particularly well with Gen Z and millennial shoppers. Through viral growth on social media platforms like Instagram and TikTok, the brand has rapidly expanded its reach and visibility.
Quince’s product offering now spans far beyond apparel. The company has diversified into categories including home goods, bedding, skincare, luggage, and even gourmet items like caviar. This broad assortment allows the brand to intersect with consumers across a wide range of shopping occasions, reinforcing both brand awareness and sales momentum.
While many M2C companies are struggling to raise capital amid rising digital ad costs and cautious consumer spending, Quince stands out as a rare success story. As Bloomberg reports, “investors were impressed by the company’s fast-growing revenue,” suggesting strong confidence in its profitability and scalability even in a challenging economic climate.
This latest funding is expected to further accelerate Quince’s global expansion and product development. The backing of Iconiq Capital will likely enhance the brand’s credibility and international presence.
Positioned as a brand that delivers the optimal balance between price and quality, Quince represents a remarkable example of success in today’s competitive M2C landscape.
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