Quince company profile: valuation, funding & revenue

This Quince company profile covers the company's valuation, revenue, funding rounds, investors and history. Quince works in consumer, with a focus on direct-to-consumer retail. It was founded in 2018 and is headquartered in San Francisco, California, United States. Its latest valuation on record is US$10.1 billion (March 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

More than US$1 billion — Total revenue in 2025 (company statement), as of 2025. Source: WHBL (Reuters).

Funding history

Quince timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2018 — Quince is founded in San Francisco by Sid Gupta (CEO) and co-founders.
• Early 2025 — Series D: US$200M, valuing the company at About US$4.5B.
• Mar 2026 — Series E: US$500M, valuing the company at US$10.1B (post-money). Investors: ICONIQ (lead); Basis Set Ventures, Wellington Management, WndrCo, Marcy Venture Partners, Baillie Gifford, Notable Capital, DST Global.

Investors

Overview

Quince is an online retailer that sells high-quality basics, such as cashmere sweaters, silk tops, linen bedding, leather goods, jewellery and home furnishings, at prices well below traditional luxury and premium brands. It calls its approach "manufacturer-to-consumer": it works directly with factories, sells only online, keeps marketing lean and uses data to order inventory carefully, cutting out wholesalers, retail stores and large brand markups. The model has driven rapid growth, with revenue passing US$1 billion in 2025, and in March 2026 Quince raised US$500 million at a US$10.1 billion valuation, making it one of the most valuable private consumer companies in the United States.

Sid Gupta, the CEO, founded Quince in 2018 with co-founders. The company began with a narrow range of items, notably affordable cashmere, and expanded category by category based on customer demand and factory capabilities.

Products

• Women's and men's clothing: cashmere, silk, linen, denim, outerwear and basics.
• Home: bedding, bath, furniture, rugs and kitchen items.
• Accessories: leather bags, shoes and fine jewellery.
• Baby and kids: clothing and essentials.
• Travel and other categories: luggage and gifts.

Funding

In early 2025 it raised a US$200 million Series D at a valuation of about US$4.5 billion. In March 2026 it raised a US$500 million Series E at a US$10.1 billion post-money valuation, led by ICONIQ, with Basis Set Ventures, Wellington Management, WndrCo, Marcy Venture Partners, Baillie Gifford, Notable Capital and DST Global, according to Reuters. The company said the funds would support global expansion of its manufacturer-to-consumer operating system.

Business model

Quince sources directly from factories, often the same suppliers used by luxury brands, and sells online at prices typically much lower than comparable branded goods. It saves on wholesale margins, store rent and some marketing, and it uses demand data and small initial production runs to reduce unsold inventory. Shipping directly from factories in some cases reduces warehousing costs. Margins depend on keeping product costs, returns and customer acquisition costs low while maintaining quality.

Competition

Quince competes with direct-to-consumer brands such as Everlane, Cuyana, Brooklinen and Parachute; with mass retailers such as Uniqlo, J.Crew and Target; with luxury and premium brands whose quality it seeks to match; and with low-cost online platforms such as Shein and Temu, which compete on price but not on positioning. Its strengths are a very broad range, a reputation for quality at lower prices and a scalable supply chain model.

Quince at a glance

Quince is a San Francisco direct-to-consumer retailer founded in 2018 by Sid Gupta and co-founders. It sells clothing, home goods, accessories and more by working directly with factories and selling online. It passed US$1 billion in revenue in 2025 and raised a US$500 million Series E at a US$10.1 billion valuation in March 2026, led by ICONIQ.

Timeline

• 2018: founded in San Francisco.
• 2019–2021: grows with affordable cashmere and silk.
• 2022–2024: expands into home, jewellery and many new categories.
• Early 2025: raises US$200 million at about US$4.5 billion.
• 2025: revenue passes US$1 billion.
• March 2026: raises US$500 million at US$10.1 billion.

Legal disputes

Quince's model of offering products similar to well-known brands at lower prices has led to legal challenges. Reuters reported that Williams-Sonoma sued Quince, alleging it sold cheaper, lower-quality items that resembled Williams-Sonoma products and made misleading comparisons. Other brands have also raised claims about designs. Outcomes vary, and such disputes are common when retailers compete directly on similar products, but they are a risk to monitor as Quince grows.

Why DTC is working again

Many direct-to-consumer brands struggled in the early 2020s as online advertising costs rose and investor enthusiasm faded. Quince's success shows that DTC can work when it offers a clear value proposition, in this case quality at lower prices, and operates efficiently. Its broad catalogue also means customers return to buy across many categories, spreading acquisition costs over more purchases.

Who buys from Quince

Quince's customers are mainly value-conscious shoppers who want premium materials such as cashmere, silk and linen without luxury prices, along with households furnishing homes.

Valuation context

At US$10.1 billion and more than US$1 billion in revenue, Quince was valued at roughly ten times annual revenue, a high multiple for retail that reflects its rapid growth. Our guide to the largest private companies covers related firms.

Risks

• Legal claims: lawsuits from brands over designs and advertising.
• Tariffs and supply chain: heavy reliance on overseas manufacturing.
• Quality control: rapid expansion into new categories can strain standards.
• Customer acquisition: advertising costs can rise.

Questions for shoppers

• What materials and certifications does the product have?
• What is the return policy and shipping time?
• How does quality compare with brands you already know?

How the manufacturer-to-consumer model works

In a traditional fashion supply chain, a factory makes a sweater, a brand marks it up, a wholesaler or department store marks it up again, and the final price may be many times the production cost. Quince removes most of these steps. It identifies factories with the skills and materials to produce high-quality goods, agrees prices and quantities directly, and sells online to consumers. Instead of large seasonal orders, it often starts with small batches, watches demand and reorders what sells, which reduces unsold inventory and markdowns. Some products ship directly from overseas factories to customers, avoiding warehouse costs. The model resembles approaches used by Shein and Temu, but Quince applies it to premium materials and a more upmarket image.

The model has trade-offs. Quince has less control over branding and storytelling than a traditional luxury company, relies heavily on online advertising, and must manage quality across many factories and categories. Its rapid expansion into home furnishings and jewellery shows how far the approach can stretch.

Questions for investors

• How much of revenue comes from repeat customers?
• How exposed is the supply chain to tariffs on imports?
• How are legal disputes with other brands being resolved?
• Can growth continue as it enters new countries and categories?

The answers will shape whether Quince's growth can justify a valuation above US$10 billion, particularly if it eventually seeks a public listing.

Latest developments (October 2026)

Quince's US$10.1 billion valuation from March 2026 remains its latest. The company has faced legal challenges from established brands: Coach owner Tapestry sued in April 2025 over handbag designs, and Williams-Sonoma sued in November 2025 over advertising claims, according to a summary on Wikipedia. Quince has reportedly passed US$1 billion in annual revenue. See our DTC brands guide.

What to watch

Watch international expansion, legal disputes, tariff impacts and possible IPO plans.

Takeaways

Shoppers can buy premium materials at lower prices. Founders can see how an efficient supply chain can be a brand's core advantage. Investors should watch legal and tariff risks alongside growth.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. WHBL (Reuters)
2. RetailBoss