The direct-to-consumer luxury retailer surpasses $2 billion in sales over 12 months, driven by AI demand forecasting and new product categories.
Quince, a San Francisco-based factory-direct luxury essentials retailer, has exceeded $2 billion in sales over the past 12 months. The company, founded in 2018, has achieved triple-digit annual revenue growth, accelerating from its prior $1 billion projection for 2025.
The milestone follows a $500 million Series E funding round in March, valuing Quince at $10.1 billion. The round included investors such as Iconiq, Baillie Gifford, and DST Global. Quince has expanded from $50 cashmere sweaters to over 100 categories, including apparel, home goods, and gourmet food.
Growth is attributed to returning customers, new product launches, and categories like home and scrubs attracting first-time buyers. The company uses AI to predict demand and scale orders dynamically through manufacturer partnerships.