Thirteen Lune raises $8 million for expansion
Inclusive beauty e-commerce destination Thirteen Lune announced on Thursday that it has raised $8 million in a seed plus investment round with new participation from The BrainTrust Fund.
The capital is expected to drive the brand’s omnichannel approach and will support brick-and-mortar, experiential retail and private brand expansion. With this investment, Thirteen Lune will also reach profitability in 2023.
Thirteen Lune was launched by industry veterans Nyakio Grieco and Patrick Herning in 2020 with just 13 foundational Black-founded brands. The e-commerce destination has since grown to offer over 160 beauty brands on its platform, 90% of which are BIPOC-founded, with the remaining 10% being from ally brands.
In 2022, it recorded a 2,000% sales growth year-over-year, fueled by the launch of its first private label brand, Relevant: Your Skin Seen, an in-store partnership with J.C. Penney Beauty, and the addition of new brands.
“As a 20+ year Black beauty entrepreneur, it’s an honor to shape the landscape of inclusive beauty, acting as an agent of change for BIPOC brand founders to receive recognition and opportunity,” said Grieco.
“Our partners share thirteen lune’s mission to support diverse founders who have historically had fewer resources and opportunities to build a business and create generational wealth.”
Thirteen Lune launched with initial investments from Fearless Fund, Capstar Ventures, Sean (Diddy) Combs, Gwyneth Paltrow, Hannah Bronfman and Naomi Watts. This capital, along with the new funds, together represents $12.5M in total funds raised.
Looking ahead, in 2023, Thirteen Lune will expand into 600 J.C. Penney locations nationwide and open its own flagship store in Los Angeles.
“Since the launch of Thirteen Lune in 2020, we’ve proven that inclusivity and scalability are not mutually exclusive," said Herning.
”With a mission to inspire the discovery of BIPOC-founded brands for people of all colors and backgrounds, we enter 2023 continuing to lead with intention and authenticity that will position us to continue our growth and momentum.”
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