Quince, the pioneering affordable luxury brand offering high-quality fashion and home goods at remarkably low prices, announced today the successful completion of its Series B funding round, raising an impressive $77 million. The investment will fuel Quince’s expansion efforts and support its mission to disrupt the retail industry with its innovative manufacturer-to-consumer (M2C) retail model, which eliminates financial and environmental waste.
Leading the Series B round is Wellington Management, a renowned investment management firm known for its dedication to meeting the needs of institutional clients. Joining them are prominent investors including Lugard Road Capital, Insight Partners, GGV Capital, Basis Set Ventures, and 8VC.
Quince has revolutionized the retail landscape with its M2C retail model, where factories produce inventory on a just-in-time basis and ship products directly to customers’ doorsteps. By cutting out middlemen and optimizing the entire supply chain, Quince is able to offer affordable luxury goods of equal or greater quality than leading luxury brands while significantly reducing costs and environmental impact.
Quince, headquartered in San Francisco, was established in 2018 and has since partnered with over 50 top manufacturers globally. The company’s commitment to creating high-quality goods, managing every aspect of the production process, and minimizing waste has resonated with customers who appreciate their innovative approach to affordable luxury.
The $77 million raised in the Series B funding round adds to Quince’s total funding amount of $141.5 million, positioning the company for accelerated growth and expansion. Quince will leverage the investment to strengthen its supply chain, expand its product offerings, and enhance its customer experience.
