The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Launched last month, the e-commerce shop raised $1 million from investors including Sean “Diddy” Combs, Gwyneth Paltrow and Beautycounter founder Gregg Renfrew. Now it’s seeking additional capital in order to scale the business and grow its index of brands.
Thirteen Lune is calling on venture capital investors “that have been vocal about a commitment to meaningful change and representation of diverse founders,” the company said.
“As a Black female beauty founder, where often fewer than 0.5 percent of Black female founders receive funding, I understand the difficulties Black and Brown founders are faced with when looking to raise capital,” co-founder Nyakio Grieco said in a statement.
Created in a partnership between beauty veteran Grieco and 11 Honoré founder Patrick Herning, the marketplace currently features brands like Buttah, Dehiya Beauty and Joanna Vargas.
“I believe in the Thirteen Lune mission to build generational wealth for Black and Brown business owners,” said Combs in an email statement.
As frothy beauty valuations come back down to earth, a group of artist-led lines are being primed for acquisition.
BoF is doubling down on our commitment to agenda-setting coverage of the global beauty and wellness space, with a new newsletter, more content and events, including our first invite-only Global Forum.
Gen-Z’s bright aesthetic may be rising in popularity, but the generation’s individualistic nature may keep it from becoming a full-blown phenomenon.
The global market has slowed, but the beauty category remains of interest to financial backers. The Business of Beauty identifies the top targets of the year.