The clothing brand Silicon Valley is investing in. The luxury answer to Shein

A characteristic feature of Quince's strategy is direct comparison of its products with those of its competitors. Each product on the website features a table comparing its features with those of other brands. The comparison takes into account price, fabric composition, and sales, shipping, and returns policies. Quince's creators also see competitors in the luxury goods segment – in the case of cashmere sweaters, they compare their products with those of the renowned Italian brand Loro Piana .

Thanks to its relatively low prices for its fine fabrics, Quince has amassed a loyal following, particularly among Generation Z and millennials. The brand has also attracted interest from prominent investors.

Quince has raised approximately $200 million in a new investment round. According to Bloomberg, citing people familiar with the matter, the lead investor in this round is Iconiq Capital, one of the leading investment firms in Silicon Valley, which backs giants such as Meta owner Mark Zuckerberg and Twitter co-founder Jack Dorsey.

Following the latest round, the Quince brand has doubled its valuation to over $4.5 billion.

\n

Qiunce's business model involves bypassing traditional intermediaries in the supply chain, eliminating many of the additional costs of producing and distributing goods. This approach has also been adopted by Chinese giants such as Temu and Shein.

In its communication, the brand prioritizes transparency and clear information about how it prices its products. It also ensures that its products, made from natural, high-quality materials, are made ethically (no labor exploitation) and in the most environmentally friendly manner possible.