Quince Surpasses $2 Billion in Sales

Quince Surpasses $2 Billion in Sales · WWD · Courtesy

Kathryn Hopkins

Wed, July 29, 2026 at 7:43 PM GMT+3 2 min read

Quince is growing fast.

The San Francisco-based company has surpassed $2 billion in sales over the last 12 months, WWD has learned.

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Previously, Quince pegged its revenues at over $1 billion for 2025, logging triple-digit growth annually since its founding in 2018.

This comes after the factory-direct luxury essentials player closed on a $500 million series E funding round in March, valuing the company at $10.1 billion. The round was led by Iconiq and also saw participation from Baillie Gifford, Basis Set Ventures, DST Global, MarcyPen Capital Partners, Notable Capital, Wellington Management and WndrCo.

Launched in 2019 with $50 cashmere sweaters, the company has now expanded to more than 100 categories, spanning apparel, home, jewelry, travel, furniture and gourmet food.

The company uses an AI-powered business model, which predicts weekly demand at both size and stock-keeping-unit levels. Then, through partnerships with manufacturers, it places and launches lower-quantity orders and scales them based on consumer demand.

Growth is understood to be driven by returning customers, a rising share of revenue from newly launched products, and newer categories like home and scrubs, which are bringing in first-time customers.

"Cashmere was the first product we launched in 2019: a $50 sweater that still costs $50 today, even after seven iterations driven by customer feedback. The price is proof that the model works, not the point. The point is earning customer trust by relentlessly improving the product until we get it right, then applying that same discipline across categories, from cashmere to couches to caviar. Revenue is an outcome of that trust," Matt Lippert, chief merchandising officer, told WWD on Wednesday.

"People often ask how we've expanded into so many categories," he said. "The answer isn't that we built 100 different businesses. We built one system for understanding what customers value, relentlessly improving products and earning customer trust one product at a time. Every product either strengthens that trust or weakens it, so our job is to keep earning it every single day."

When asked in March whether or not the raise could precede an initial public offering, Lippert declined to comment.

The IPO market is bubbling up again after a quiet period, with Elon Musk's SpaceX IPO reigniting activity.

In fashion, Reformation filed to go public in June, which will test the market for fashion. And earlier this month, Tailored Brands Inc. — parent to Men's Wearhouse, Jos. A. Bank, Moores and K&G — also filed its registration statement to go public again on Friday.

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Quince Surpasses $2 Billion in Sales

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