These are the stories making headlines in fashion on Thursday.
Nyakio Grieco Reacquires Thirteen Lune, Expands to South Africa
Nyakio Grieco has reacquired beauty retailer Thirteen Lune from SNR Capital, the founder told WWD. Terms of the deal were not disclosed. Following Grieco’s reacquisition, Thirteen Lune announced its first global expansion through a partnership with South African online retailer Takealot. The expansion will go live on Takealot in Q4 2026, anchored by localized activations and interactive retail pop-ups. {WWD/paywalled; Fashionista inbox}
Japanese Artist Yayoi Kusama Dies at 97
Yayoi Kusama, a Japanese artist known for her polka-dot paintings and phallic sculptures, died on Aug. 14 at 97. She first gained attention in the late 1950s and early 1960s with her abstract paintings called “Infinity Nets.” In 2012 and 2023, Kusama also collaborated with Louis Vuitton to translate her signature dots onto handbags, accessories and ready-to-wear. {The New York Times/paywalled}
Meta to Pay up to $18 Billion in Settlements
Meta has agreed to pay up to $18 billion in settlements to resolve claims from U.S. states. Key parts of the deal require Meta to restrict how much time youths can scroll and prevent them from switching off certain safety settings without parental consent. Meta will pay up to $16.7 billion to resolve a lawsuit in which multiple U.S. states alleged that it deliberately designed Facebook and Instagram to encourage compulsive use among young people. {Bloomberg/paywalled}
Influencer-Investors Are Becoming More Popular
Influencers are increasingly doubling as investors, as these partnerships give creators a claim of the long-term value they help create. Alix Earle has invested in Cymbiotika, Gorgie, SipMargs and Poppi; Hannah Bronfman has backed more than 70 startups; and Sofia Richie Grainge has invested in Dolce Glow and ShopMy. This rise of the influencer-investor is a natural consequence of influencers’ proven ability to create business value at scale, Tariro Makoni writes for Vogue Business. {Vogue Business/paywalled}
British Fashion Council Chair Steps Down
The British Fashion Council (BFC) announced that David Pemsel is stepping down as Chair on Sept. 30 after 10 years on the BFC Executive Board and four years as Chair. A further announcement on the BFC’s new Chair will be made in September. “I am incredibly proud of what we have achieved together,” Pemsel said in a statement. “From strengthening the organization and securing long-term investment, to supporting the next generation of designers and elevating the global profile of British fashion, the BFC is entering its next chapter from a position of real strength.” {Fashionista inbox}
