d Nyakio Beauty (acquired by Unilever in 2017) was at the top of all these lists,” Grieco told Inside Retail. Even after having worked in the beauty industry for more than 18 years, Grieco was surprised by the number of new-to-her Black-owned beauty brands she discovered through these listicles.  “I sort of decided at that moment that I wanted to create a platform where I could celebrate and amplify other brands created by Black and Brown founders, but more importantly, to create a space and a destination to celebrate global beauty,” Grieco explained.  From conceptualizsation to takeoff After Herning and Grieco finalised the concept idea for Thirteen Lune, they set about raising funds from friends and family in an initial angel round. From there, the two longtime business entrepreneurs were able to build the platform and bring it to market. Sixty days after the platform took off, the co-founders received a call from JCPenney saying it was looking for a new inclusive retail partner for its beauty stores.  In October 2021, Thirteen Lune opened 10 pilot doors within JCPenney stores and by the end of spring 2023, the platform had 608 shops-in-shop in JCPenney locations scattered across the US.  In 2022, Thirteen Lune reported 2000 per cent year-over-year growth, driven by the launch of its first private-label brand, Relevant: Your Skin Seen, the expansion of its in-store partnership with JCPenney Beauty, and the addition of brands to its platform, including Ami Colé and Pattern Beauty by Tracee Ellis Ross. In 2023, Thirteen Lune raised US$12.5 million in funding from celebrity investors, such as Gwyneth Paltrow and Naomi Watts, and venture capital firms, including Capstar Ventures, Fab Ventures, Swiftarc Beauty, and Gaingels. It also raised US$8 million in a seed round from BrainTrust Founders Studio, the largest membership-based platform designed for inclusive founders of beauty and wellness companies. In May of that same year, Thirteen Lune opened its first flagship store on Larchmont Boulevard, in Los Angeles, California, an area that houses a rich collection of beauty retailers including Credo Beauty, Blue Mercury and Aesop. “What I love about Thirteen Lune having a presence on Larchmont Boulevard is that we offer the chance amplify not only the discovery of Black and Brown brand founders but to really celebrate the power of allyship with brands like Goop. To have this opportunity to have a revolving space of community and excitement has been a lot of fun as well,” Grieco told Inside Retail.  However, as many a veteran retailer are aware, there can be too much of a good thing. Especially if a brand doesn’t have adequate funds or staff to keep driving sustainable growth.  This is where Thirteen Lune’s next plan of action comes in.  Thirteen Lune’s acquisition As of late 2024, venture capital and private equity firm SNR Capital has acquired Thirteen Lune for an undisclosed sum.  As part of the integration, Thirteen Lune has been restructured.  Grieco has since become the company’s chief executive officer, and Herning has exited the business.  SNR Capital’s principals are Conor Riley and Piyush Golia, the latter of whom serves as the PCA Companies’ CEO and acquired the US wholesale division of Space NK earlier this year. “Thirteen Lune launched at a pivotal time for beauty, “when curated beauty selection was so important. It was also a flashpoint for Black- and Brown-founded beauty brands,” Riley stated.  “There’s such an underserved community here and internationally. When we saw that there was an opportunity to provide the support the company needed after a restructuring, it was exciting for us to jump in.” Grieco explained that the acquisition deal was necessary to help Thirteen Lune maintain the momentum built up over its meteoric first four years in business.  “This acquisition helps us to continue our mission of amplifying diverse founders and building a global business strategy, working with my new partners,” Grieco promised.