Quince Raises $200M at $4.5 Billion Valuation

Quince, an Instagram and TikTok famous affordable luxury brand, is raising $200 million in a funding round valuing the company at over $4.5 billion. Iconiq, an investment firm managing the fortunes of Silicon Valley billionaires, is leading the round. Quince's direct-to-consumer model, which removes middlemen and reduces costs, has earned a devoted fan base. The financing comes at a time when many direct-to-consumer businesses have struggled to raise capital due to rising social media costs and low-performing sales.