Inclusive Retail Platform Thirteen Lune Is Exploring Deal Options
In a flurry of beauty brands mulling their deal options, a retail concept has entered the mix.
Thirteen Lune, the inclusive retail platform cofounded in 2020 by Nyakio Grieco and Patrick Herning, is on the market, sources said. It is understood that deals of varied size and structure are being considered.
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Grieco more or less confirmed the reports to WWD, saying, “As we approach year four of our business, we are thrilled to move from a start-up to a fast-growing business. In regards to investment, at this time, we are weighing all of our options for this next phase of growth.”
In addition to its website, Thirteen Lune operates 600 shops-in-shop with JCPenney nationally, and has a flagship in Los Angeles. Grieco also confirmed rumblings that the shop-in-shop model could expand to other retailers.
“While we are no longer exclusive to JCPenney, we are excited about new commercial partnerships for Thirteen Lune and Relevant,” Grieco said.
Relevant is Thirteen Lune’s beauty brand, which debuted in 2022 with a moisturizer-SPF hybrid. It has since grown its assortment to include makeup and fragrance, and has expanded its geographic footprint into the U.K. by way of a partnership with Sephora.
Both Grieco and Herning have had successful exits before: Grieco sold her skin care brand Nyakio Beauty to Unilever in 2017; Herning’s 11 Honoré was acquired by Dia & Co. in 2022. Thirteen Lune dedicates 90 percent of its shelf space to Black, Indigenous and people of color-founded brands and stocks Danessa Myricks Beauty, Brown Girl Jane and BeautyStat, among others.
The decision to head to market comes as many beauty brands explore sale options. As reported, TSG Consumer Partners acquired a majority stake in Summer Fridays in July; this week, rumored talks between Shiseido and Osea were said to have quieted. Makeup by Mario is also eyeing deals, and had hired J.P. Morgan to do so.
Meanwhile, prestige beauty is still marking upticks in the U.S. sales, having grown 8 percent in the first half, per Circana. The outlook heading into holiday isn’t as strong: Ulta Beauty cut its full-year outlook last week and missed Wall Street’s expectations, citing consumer shifts downmarket and increased retail competition.
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