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, an affordable luxury brand online retailer, has raised $200 million at a valuation of more than $4.5 billion, according to a report from .

Impressively, the deal comes just six months after San Francisco-based Quince announced it had in a Series C round of funding. Quince鈥檚 new valuation is more than double what it was earlier this year, sources told Bloomberg.

reportedly led Quince鈥檚 latest financing.

Founded in 2018, Quince started out selling clothes, touting a sustainable model and shipping directly from factories. Over time, it expanded its offerings and now sells luggage, furniture and home goods as well.

The direct-to-consumer darling has seen its popularity surge in recent years, thanks in part to going viral on and . The company鈥檚 stylish and relatively affordable clothing in particular has fans among Gen Z and millennial shoppers. For example, it markets cashmere sweaters for $50 鈥� a significantly lower price point than other retailers such as .

While some direct-to-consumer space players have struggled as of late, Quince is a bright spot in the industry with reporting that 鈥渋nvestors were impressed by the company鈥檚 fast-growing revenue.鈥�

Per 附近上门 data, with this deal, Quince has raised a total of $461.5 million. Other backers include ,,, 1听补苍诲 .

Quince鈥檚 latest round alone matches the $200 million in venture funding that fashion and apparel startups overall have raised so far this year, per . Last year, startups in the space raised just $131.6 million in funding, a sharp decline from the $2.1 billion that went to such companies in the peak year of 2023.

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