thirteen lunes partnership inside over 600 JCPenny’ includes a shop-in-shop experience.
Courtesy of thirteen lune
The first-of-its-kind truly inclusive beauty e-commerce platform, thirteen lune, announced a $3 million funding round led by Fearless Fund, a venture capital firm by women of color, for women of color. The transaction underscores strong investor confidence in thirteen lune’s growth, profitability and market position and consumer interest in inclusive beauty. The investment will accelerate production of thirteen lune’s private label line, improvements to its supply chain, and build a more robust executive level team.
Fearless Fund General Partner and cofounder, Arian Simone.
Courtesy of Fearless Fund
Fearless Fund General Partner and cofounder, Arian Simone, was introduced to the cofounder of thirteen lune, Nyakio Grieco, through a mutual friend and was instantly impressed by its unique platform which is promoting representation in the beauty industry in a way that’s never been seen before. “Our goal as a VC fund is to support Women of Color-founded brands and bridge the gap in funding that currently has less than 1% of WOC-businesses receiving capital. We were particularly excited to lead this investment as it not only supports Nyakio and thirteen lune, but through their platform, also supports 100 beauty brands that are either founded by Black entrepreneurs or allies for Black beauty,” explained Simone. Fearless Fund has significant experience investing in the beauty and wellness space. Current and past investments include Range Beauty, Amp Beauty LA, Hairbrella, Slutty Vegan, Nudies and many others.
thirteen lune launched in 2020 with 13 brands sold on its DTC platform. Today thirteen lune proudly carries 100 brands— 90% are founded by Black, Indigenous, People of Color (BIPOC) and 10% are ally brands. thirteen lune is growing exponentially this year, with 100% revenue growth in the past six months from online sales alone. Their most recent partnership JCPenney, has scaled its brick-and-mortar footprint as the beauty shop-in-shop experience will be in 600 stores nationwide by 2023, with 10 already open. This retail expansion will supercharge growth for thirteen lune and increase consumer awareness.
Nyakio Grieco, cofounder of thirteen lune.
courtesy of Nyakio Grieco
“As an entrepreneur for 20 years, it was very exciting to see how much the venture landscape has transformed from when I first started fundraising back in the early 2000s. Representation matters and seeing an increase of diverse fund managers in the market was extremely encouraging during our process,” says Nyakio Grieco, cofounder of thirteen lune. “Even though …….