Modern Grooming brand Faculty has raised $3 million in seed funding led by The Esteé Lauder Co.
WHO: Faculty was founded in 2019 by Umar ElBably and Fenton Jagdeo with a mission to transform how men relate to evolving notions of conventional masculinity, ushering in what they define as “third-wave masculinity”—encouraging consumers to define masculinity themselves. The brand currently offers nail lacquer and nail stickers, which are currently sold out.
WHY: The funding will also go to marketing, inventory, and research and development.
IN THEIR OWN WORDS: “Esteé is a great partner,” Jagdeo said to WWD. “They allow us to move quickly if we decide to move quickly, and mentorship is crucial. Umar and I are young and we have a passion for building this. The mentorship is going to be incredible.”
Jagdeo said about Faculty and the market, “Gen Z is taking over the world. With $140 billion in buying power, they’re not concerned with stereotypes. They care about self-expression and when you look at A$AP Rocky, Dennis Rodman and Harry Styles, they dabbled in nail polish as a form of expression. This is something the world is experiencing and Faculty is representative as the only brand championing that. We’re not here to be a hyper masculine brand. We need to be open to all forms of masculinity.”
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