Quince

Quince, operated by the legal entity Last Brand, Inc., is a San Francisco-based direct-to-consumer retailer selling apparel, home goods, luggage, jewelry, beauty and other lifestyle products under a "manufacturer-to-consumer" (M2C) model. Rather than routing goods through traditional wholesale and retail middle layers, Quince says it works directly with a network of international factories and manufacturers, which allows it to sell items such as cashmere sweaters, silk pieces and leather goods at prices well below comparable department-store or heritage-brand products. The company launched publicly on October 13, 2020, after roughly a year in beta under the name Last Brand, and was co-founded by Sid Gupta, who serves as CEO, alongside Sourabh Mahajan (CTO) and Zunu Mittal (President). Gupta previously founded the candy retail chain Lolli and Pops and worked at Citigroup and L Catterton before starting Quince. The company built early momentum through Instagram-driven marketing of its affordable cashmere line and has since expanded into homeware, travel goods, fine jewelry and beauty, with a Canada expansion announced in January 2026. Quince has raised financing across a Seed round and five subsequently named priced rounds (Series A through E) since 2020, most recently a $500 million Series E in March 2026 led by existing investor Iconiq Capital, which valued the company at $10.1 billion -- more than double the roughly $4.5 billion valuation set less than a year earlier at its Series D. Quince reported that top-line revenue surpassed $1 billion in 2025, with the company describing triple-digit annual growth since its founding. The company's low-price positioning against recognizable premium brands has also drawn a string of trademark and trade-dress lawsuits, including from Deckers (UGG), Coach/Tapestry, Yeti and Williams-Sonoma, with Quince prevailing over Deckers and settling with Coach, while the Williams-Sonoma case, filed in November 2025, was still pending as of mid-2026.