Quince
United States
Quince is a San Francisco online retailer founded by Sid Gupta and partners that sells luxury style materials such as cashmere, silk and linen at low prices through a manufacturer to consumer model. Launched publicly in 2020, it was valued at more than 4.5 billion dollars in 2025 and reported about 1.1 billion dollars in annual revenue. It is privately held and backed by venture capital.
| Founded | 2018 to 2020 (launched October 2020) |
|---|---|
| Founders | Sid Gupta, Sourabh Mahajan, Becky Mortimer, Zunu Mittal |
| CEO | Sid Gupta |
| Headquarters | San Francisco, United States |
| Model | Manufacturer to consumer |
| Valuation | Above 4.5 billion US dollars (July 2025) |
| Website | quince.com |
What is Quince?
Quince is an American e-commerce company selling apparel, accessories, jewellery, home goods, bedding, beauty and wellness products. Its promise is products of equal or greater quality than luxury brands at a much lower price, with cashmere jumpers and silk shirts among its best known items.
History
Quince was started in 2019 as Last Brand and rebranded as Quince in June 2020 before launching publicly in October 2020; some sources date the company's founding to 2018. Its founders are Sid Gupta, who is chief executive, Sourabh Mahajan, who is chief technology officer, Becky Mortimer and Zunu Mittal. Early backers included Founders Fund and 8VC. A 120 million dollar Series C followed in January 2025, and in July 2025 Bloomberg reported a Series D led by Iconiq Capital at a valuation above 4.5 billion dollars.
Products and positioning
Quince is a value priced brand that borrows the material vocabulary of luxury. Its range covers:
- Cashmere, alpaca, silk and organic linen clothing
- Fine jewellery and leather accessories
- Bedding, bath and home textiles
- Baby, beauty and wellness products
Business model and distribution
The company calls its approach manufacturer to consumer: partner factories produce goods that are shipped directly to customers, cutting out sourcing agents, wholesalers, distributors and storefront retail. Quince publishes cost breakdowns for selected items. It sells online in the United States and launched a Canadian website in 2026. Wikipedia reports annual revenue of about 1.1 billion dollars as of November 2025.
Why it matters
Quince is one of the fastest growing fashion and lifestyle businesses of the 2020s and a direct challenge to both premium DTC brands and traditional retail. Its factory direct model shows how supply chain design, rather than brand heritage, can become the core of a consumer proposition.
Frequently asked questions
Who owns Quince?
Quince is a privately held company led by co-founder and chief executive Sid Gupta. It is backed by venture investors including Founders Fund, 8VC, Notable Capital, Wellington Management and Iconiq Capital.
How is Quince so cheap?
Quince uses a manufacturer to consumer model in which partner factories ship products directly to customers. It skips wholesalers, distributors and physical stores, which the company says lowers costs. It publishes cost breakdowns for some items.