Fashion brand Quince secures A$191.3M in Series C funding
Quince, a US-based fashion brand known for its manufacturing-to-consumer (M2C) retail model, has raised US$120 million ($182.4M) in a Series C funding round. The company focuses on offering high-quality, affordable fashion and home essentials.
Transaction snapshot
Deal value: US$120 million ($182.4m)
Deal multiples: N/A
Deal type: Series C funding
Investors: Notable Capital, Wellington Management, DST Global, Basis Set Ventures, 8VC
The funding round was co-led by Notable Capital and Wellington Management, with additional participation from DST Global, Basis Set Ventures, and 8VC.
Quince stated on LinkedIn that the funds will help scale its mission of providing high-quality essentials at "radically fair prices."
Hans Tung, managing partner at Notable Capital and Quince board member, highlighted the brand’s supply chain model. He noted that Quince partners with top global suppliers to deliver superior quality at competitive prices. He referenced a US$50 ($79.7) cashmere sweater that rivals traditional US$150 ($239) retail options, emphasising its durability and affordability.
Tung also pointed out that Quince is expanding its product categories while maintaining its focus on affordability. He added that the company’s approach helps consumers balance quality with budget-friendly pricing, particularly in an era of rising inflation.
Quince’s M2C model prioritises quality, sustainability, and transparency. By eliminating traditional supply chain costs—including sourcing agents, warehousing, wholesaling, distribution, and storefront retail—the brand keeps prices low without compromising on quality.
