Who owns Function of Beauty? This question has sparked a lot of interest and debate among beauty enthusiasts and investors alike. As one of the fastest-growing beauty brands in the market, Function of Beauty has captured the attention of many, leading to questions about its ownership and the power behind its success. In this article, we will delve into the history, founders, and investors who have played a crucial role in shaping the brand we know today.
Function of Beauty was founded in 2014 by Hayley Barna and her father, Noam Barna. The concept behind the brand was born out of a personal struggle for Hayley, who was unable to find a hair care product that suited her unique hair type and needs. With the help of her father, an experienced chemist, they set out to create a customizable hair care line that would cater to the diverse needs of customers. Today, Function of Beauty offers a wide range of products, including shampoos, conditioners, and styling products, that are tailored to each customer’s specific hair type and concerns.
As the brand grew, it attracted the attention of investors who saw potential in its unique business model. One of the key investors in Function of Beauty is Unilever, a global consumer goods company known for its diverse portfolio of brands. In 2016, Unilever acquired a minority stake in the company, which helped Function of Beauty expand its product line and reach a wider audience. This investment was a testament to the brand’s innovative approach and the potential for growth in the personalized beauty market.
Another significant investor in Function of Beauty is L Catterton, a private equity firm focused on consumer brands. L Catterton’s investment in Function of Beauty further solidified the brand’s position as a leader in the personalized beauty industry. The firm’s expertise in brand building and marketing has played a crucial role in the brand’s success, helping it to expand its customer base and solidify its position as a go-to destination for personalized hair care products.
While Unilever and L Catterton are the two major investors in Function of Beauty, the brand’s founders, Hayley and Noam Barna, still hold a significant stake in the company. Their vision and commitment to creating a customizable beauty experience have been instrumental in the brand’s growth and success. The founders’ passion for the brand is evident in their continued involvement in its day-to-day operations, ensuring that Function of Beauty remains true to its core values and mission.
In conclusion, Function of Beauty is a brand that is owned by a combination of founders, investors, and a strong team of employees who share a common vision for personalized beauty. The brand’s success can be attributed to the innovative spirit of its founders, the strategic investments from Unilever and L Catterton, and the hard work of its dedicated team. As the personalized beauty market continues to grow, Function of Beauty remains a key player, with a bright future ahead.
