Quince

Sheel Mohnot

@pitdesi

Brutal- Everlane was supposed to be the anti-SHEIN, now acquired by SHEIN for $100M It was a VC darling when it launched, raising from KP, Khosla, Maveron and others (~$145M raised) I think the bet was that consumers would pay more for ethical, sustainable basics, and that consumer may not really exist at venture scale. The low-end customer wants price. The high-end customer wants brand, taste, status. Everlane is kind of stuck in the middle. It sells “smart basics” at a premium, but I’m not sure people are willing to pay a significant premium for simple clothes over Quince, Uniqlo and Amazon. Maybe the real “radical transparency” was showing everyone how brutal fashion economics can be. Wonder what SHEIN does with it… Will they just make the same clothes in sweatshops now?

Alex Kolicich

@AlexKolicich

We wrote the first check into Quince and never shared our thesis publicly At the time, D2C was radioactive and 'affordable luxury' sounded like an oxymoron. Today they raised at $10B. We couldn't be more excited. Here's why we believed — and why we think it's still early! https://t.co/p1y8oeuzX7

Amanda Mull

@amandamull

I get more questions from friends and readers about Quince than about any other retailer. How is the cashmere that cheap? Why do they sell champagne? What are they up to? So today I tried to explain what Quince's endgame is. Gift link: https://t.co/1Mz3TmUK5B

Fan Bi (buy/ advise $5-50M brands in special sits)

@lifeofbi

Two SF brands. Same pitch: "Luxury basics without the markup." One is fighting for survival. The other just hit a $10B valuation. The tale of Everlane vs. Quince is a masterclass in Brand vs. Machine. Everlane Launched in 2012 with "Radical Transparency." It was a vibe. It worked, until it didn’t. Revenue stalled at ~$170M. Sales have dropped for 24 months. Tried "Clean Luxury" rebrands and celeb campaigns, but the customer moved on. Hunting for a lifeline to keep the lights on. Quince Launched in 2018 with a different engine: Manufacturer-to-Consumer (M2C). They don’t hold inventory. Factories hold it until you click "buy." A massive engineering team in Bangalore uses AI to forecast demand down to the SKU and color. $50 cashmere + zero middleman = $1B+ revenue in 2025. Everlane built a story. Stories are powerful, but they’re fragile. When the mood shifts, the business cracks. Quince built a structural cost advantage. Their edge compounds every year as data improves and risk stays upstream.

Drew Fallon

@drewfallon12

QUINCE CROSSES $2B IN TTM SALES According to a report from WWD, Quince has passed $2 billion in ttm revenue, up from $1B+ for FY25. Triple-digit annual growth since founding in 2018. The factory-direct brand launched in 2019 with a $50 cashmere sweater and has expanded to 100+ categories using an AI-powered demand model that predicts weekly needs. This March, Quince closed a $500M Series E valued at $10.1B led by ICONIQ; up 2x from its previous series D valuation of $4.5B in July 2025 That means investors who paid something like 8x TTM sales in the Series D ended up paying just 2x NTM sales - talk about underwriting! Quince has raised a total of around $960M raised. The company declined to comment on future IPO plans but i am officially begging Previous round valued the company for $10.1B at over 10x revenue at the time. H1 2026 shows signs of continued growth, a reasonable valuation could fall in the $15B to $17B range at 7-8x this new $2B ttm sales figure. Worth noting, DTC fashion brand Reformation filed to go public last month

Roman Khan

@RomanEcom

I went back on the Operators Pod to talk about: - Why I paused buying companies - Where I think eCom is headed - What I learned from my semi-annual event - How to scale $APP to $100K+++ a day - Where Quince Logistics is going (9 figure year 1) - Why I started a packaging business called Petra Spark (8 figure run rate pipeline) - Where AI is taking eCommerce A lot of topics that I have not talked about on other Pods. I’ll answer any questions in the YouTube comment section - just leave them there

Allyssa Rapp

Head of Partnerships & Collaborations

Previously at PUMA Group · Los Angeles, California, United States

Joined Jun 2026

Jeremiah Morris

Head of Global Procurement - Apparel, Activewear, Intimates, K&B, and Footwear

Previously at Deckers Brands · Los Angeles, California, United States

Joined May 2026

Previously at Collectors · New York, New York, United States

Joined Jun 2026

Previously at Grocery Outlet · San Francisco, California, United States

Joined May 2026