What's Happening?
Thirteen Lune, a diversity-focused beauty retailer, and its founder Nyakio Grieco have been absolved of fraud allegations in a lawsuit filed by venture capital firms Beauty Generations Fund and Relevance Capital. The lawsuit, filed in March 2025, accused
the company of fraud, breach of fiduciary duty, and misappropriation of funds. An amicable resolution has been reached, and all claims against Grieco and Thirteen Lune will be formally withdrawn by November 10. Despite financial struggles and a partnership ending with JCPenney, the company plans to expand both domestically and internationally.
Why It's Important?
The resolution of the lawsuit allows Thirteen Lune to focus on its mission of promoting diversity in the beauty industry without the distraction of legal battles. The company's ability to overcome financial difficulties and continue expanding demonstrates resilience and commitment to its core values. This development may enhance investor confidence and attract new partnerships, supporting the growth of inclusive beauty brands and potentially influencing industry standards.
What's Next?
Thirteen Lune plans to onboard new brands and make strategic hires to support its expansion efforts. The company aims for significant growth in 2026, leveraging its diverse brand roster and focusing on both domestic and international markets. Continued collaboration with investors and stakeholders will be crucial in achieving these goals and maintaining momentum in the competitive beauty industry.
