If LVMH’s latest sales figures are any indication of the current state of consumer sentiment, it’s that a good product alone isn’t enough. Customers still want quality, but at a price that feels fair, something most luxury retailers haven’t really nailed.
That’s where Quince, the online DTC brand behind TikTok’s favorite $50 Mongolian cashmere sweater, steps in. Founded in 2018, the brand has quietly cracked a model that blends quality, affordability, and viral appeal—all without the luxury price tag. In fact, the retailer—which sells everything from apparel and home goods to beauty products—doesn’t claim to be a luxury brand at all.
What it has on offer in fact is quite the opposite: items that emulate luxury at bargain prices. Think European linen pants at ~$40 a piece.
“Premium apparel was often marked up 5–10x or more, making everyday luxury inaccessible to most people,” Antonieta Moreland, head of brand at Quince, told Retail Brew. “At the same time, fast fashion sacrificed quality, longevity, and values. We believed there was a better way; thus was born our model that offered high-quality, ethically made essentials at radically fair prices.”
That model has also resonated with millennials and, more recently, Gen Z audiences tuned into the thousands of influencer videos praising the brand’s quality and sustainability online.
“TikTok introduced us to a whole new generation of customers, especially Gen Z and younger millennials,” Moreland said. “It also made us rethink how we tell our story. The best-performing content isn’t polished or branded; it’s real people discovering how good our $50 cashmere sweater is and telling their friends.”
In 2024 alone, the brand hit ~$340 million in revenue, up from $300 million in 2023. And according to a recent Bloomberg report, the DTC retailer is now valued at $4.5 billion after a recent funding round that raised ~$200 million.
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So what’s powering Quince’s rise?
Moreland explained that the brand’s price-to-quality ratio hinges on its factory-direct approach. “By removing traditional retail markups and selling directly from top-tier manufacturers, we can offer the same (or better) quality as designer brands, without the sticker shock,” she said.
She added that it hasn’t been without challenges as the brand had to create a global supply chain to support a model based on “quality control, ethical standards, and speed, working closely with our factory partners.”
Still, while Quince’s low prices may seem reminiscent of fast fashion, the brand distinguishes itself through tighter production cycles, limited launches, and a commitment to responsible manufacturing. Moreland said the company also adheres to certain sustainability benchmarks including only working with factories (often family-owned) that meet Quince’s “global standards” for ethical labor, safety, and environmental responsibility.
“Our pricing isn’t about cutting corners; it’s about cutting out unnecessary markups,” she said. “We don’t run wholesale, we don’t overproduce, and we launch new products only when they meet our standards for value and responsibility.”
With loyal fans still singing its praises across social media, Quince is now focused on turning that momentum into long-term growth. The retailer is currently expanding into Canada on the horizon along with introducing categories like supplements and fine jewelry. Quince is making it clear: Its version of affordable luxury is just getting started.
“While we’re a digital-first brand, we’re also experimenting with pop-ups and in-person activations to bring the brand to life,” Moreland said. “But whatever we do, it has to serve the same mission: Make luxury essentials more accessible to more people.”