Viral brand Quince raises $200 million, hits $4.5 billion valuation
Quince, the California-based brand gaining global buzz for its affordable luxury wardrobe essentials, has raised about $200 million in a new funding round, valuing the company at more than $4.5 billion. The label, which gained prominence on platforms like Instagram and TikTok, offers direct-to-consumer clothing and home goods at remarkably low prices, earning it a reputation as a disruptor in the accessible luxury space. Quince cashmere sweater, New York – Fall 2025 - Photo: Jeenah Moon / The Washington Post / Getty Images
Iconiq Capital, the investment firm managing wealth for Silicon Valley elites including Mark Zuckerberg and Jack Dorsey, is reportedly leading the round, according to people familiar with the matter. The new valuation more than doubles Quince's previous worth—indicating strong investor confidence in the brand's business model and growth trajectory.
Representatives for both Quince and Iconiq declined to comment.
Launched in 2018, Quince has grown rapidly by offering products such as $50 cashmere sweaters, silk dresses, bedding, and even discounted caviar—delivered straight from factories. By cutting out traditional intermediaries and shipping directly to consumers, the brand keeps costs low while maintaining quality. The model is comparable to those used by Chinese e-commerce giants such as Temu and Shein, though Quince is positioned as more sustainable and quality-focused.Its direct-to-consumer, factory-to-door approach has earned it a dedicated fan base in the U.S. and beyond, particularly among millennial and Gen Z shoppers seeking both value and style.The fundraising comes at a time when many direct-to-consumer brands are struggling to secure capital. Increased social media advertising costs and sluggish consumer spending have deterred private investment in the sector. However, sources say Quince's consistently strong revenue growth set it apart from competitors and attracted backers in a challenging market.Earlier this year, Quince raised $120 million in a Series C round led by Notable Capital and Wellington Management.Iconiq, founded in 2011, has grown into one of the most prominent venture investors in Silicon Valley. In 2023, it raised $5.75 billion for its latest venture capital fund. Its involvement with Quince could further boost the brand's global profile as it scales operations and expands its product offering.
FashionNetwork.com with Bloomberg
Copyright Bloomberg Tags : Fashion Ready-to-wear Fashion Media Business
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion Network
8 hours ago
- Fashion Network
US tech firm Zugara accuses Chanel of patent infringement over AR makeup
Legal disputes over augmented reality (AR) technology are escalating across fashion and beauty. The latest case involves Chanel, which California-based AR company Zugara is suing for allegedly infringing on its patented face-tracking process. Zugara filed the lawsuit on July 22 in Texas, claiming the French luxury house's virtual makeup try-on tool unlawfully replicates a patented system the firm developed for real-time cosmetic simulation. The tech company is known for providing AR tools to major clients such as Nestlé, Pepsi, Toyota, AT&T, and the U.S. Air Force. At the center of the case is a patented method that tracks users' eyes and lips to digitally apply makeup in real time. While there are several ways to achieve this effect, Zugara alleges that Chanel's 'Virtually Try-On' tool copies the specific sequence outlined in its patent. Zugara previously filed a similar complaint against Estée Lauder, which was reportedly settled out of court. Chanel's virtual try-on experience allows users to test makeup looks inspired by its Croisière 2025 runway show. The tool features curated palettes, limited-edition products, and options to customize makeup virtually before purchasing. Unlike virtual reality, which immerses users in a fully digital environment, augmented reality enhances real-world images by overlaying digital elements. In the beauty sector, AR try-on tools have become popular for offering personalized, contact-free shopping experiences. But the rise of AR tools has sparked more than just innovation. Legal challenges involving beauty brands and tech firms are becoming more common—particularly around the collection of biometric data. In the U.S., companies such as Charlotte Tilbury Beauty, e.l.f. Beauty, Mary Kay, and Ulta have previously been sued for allegedly capturing facial data without user consent. As companies like Apple and Meta push forward with AR-enabled devices, experts warn that biometric tracking, facial scanning, and consumer privacy will continue to raise legal and regulatory questions across the retail and tech industries.
Fashion Network
10 hours ago
- Fashion Network
US tech firm Zugara accuses Chanel of patent infringement over AR makeup
Legal disputes over augmented reality (AR) technology are escalating across fashion and beauty. The latest case involves Chanel, which California-based AR company Zugara is suing for allegedly infringing on its patented face-tracking process. Zugara filed the lawsuit on July 22 in Texas, claiming the French luxury house's virtual makeup try-on tool unlawfully replicates a patented system the firm developed for real-time cosmetic simulation. The tech company is known for providing AR tools to major clients such as Nestlé, Pepsi, Toyota, AT&T, and the U.S. Air Force. At the center of the case is a patented method that tracks users' eyes and lips to digitally apply makeup in real time. While there are several ways to achieve this effect, Zugara alleges that Chanel's 'Virtually Try-On' tool copies the specific sequence outlined in its patent. Zugara previously filed a similar complaint against Estée Lauder, which was reportedly settled out of court. Chanel's virtual try-on experience allows users to test makeup looks inspired by its Croisière 2025 runway show. The tool features curated palettes, limited-edition products, and options to customize makeup virtually before purchasing. Unlike virtual reality, which immerses users in a fully digital environment, augmented reality enhances real-world images by overlaying digital elements. In the beauty sector, AR try-on tools have become popular for offering personalized, contact-free shopping experiences. But the rise of AR tools has sparked more than just innovation. Legal challenges involving beauty brands and tech firms are becoming more common—particularly around the collection of biometric data. In the U.S., companies such as Charlotte Tilbury Beauty, e.l.f. Beauty, Mary Kay, and Ulta have previously been sued for allegedly capturing facial data without user consent. As companies like Apple and Meta push forward with AR-enabled devices, experts warn that biometric tracking, facial scanning, and consumer privacy will continue to raise legal and regulatory questions across the retail and tech industries.
Fashion Network
10 hours ago
- Fashion Network
US tech firm Zugara accuses Chanel of patent infringement over AR makeup
Legal disputes over augmented reality (AR) technology are escalating across fashion and beauty. The latest case involves Chanel, which California-based AR company Zugara is suing for allegedly infringing on its patented face-tracking process. Zugara filed the lawsuit on July 22 in Texas, claiming the French luxury house's virtual makeup try-on tool unlawfully replicates a patented system the firm developed for real-time cosmetic simulation. The tech company is known for providing AR tools to major clients such as Nestlé, Pepsi, Toyota, AT&T, and the U.S. Air Force. At the centre of the case is a patented method that tracks users' eyes and lips to digitally apply makeup in real time. While there are several ways to achieve this effect, Zugara alleges that Chanel's 'Virtually Try-On' tool copies the specific sequence outlined in its patent. Zugara previously filed a similar complaint against Estée Lauder, which was reportedly settled out of court. Chanel's virtual try-on experience allows users to test makeup looks inspired by its Croisière 2025 runway show. The tool features curated palettes, limited-edition products, and options to customise makeup virtually before purchasing. Unlike virtual reality, which immerses users in a fully digital environment, augmented reality enhances real-world images by overlaying digital elements. In the beauty sector, AR try-on tools have become popular for offering personalised, contact-free shopping experiences. But the rise of AR tools has sparked more than just innovation. Legal challenges involving beauty brands and tech firms are becoming more common—particularly around the collection of biometric data. In the U.S., companies such as Charlotte Tilbury Beauty, e.l.f. Beauty, Mary Kay, and Ulta have previously been sued for allegedly capturing facial data without user consent. As companies like Apple and Meta push forward with AR-enabled devices, experts warn that biometric tracking, facial scanning, and consumer privacy will continue to raise legal and regulatory questions across the retail and tech industries.
