Honest Company actress and co-founder Jessica Alba poses for a photo while promoting Honest Company.
Mat Howard | Getty Images
Honest Co., a consumer goods company founded by actress Jessica Alba, submitted an initial US public offering on Friday after a strong year that was driven by rising demand for children’s lotions, lotions and hygiene products. pandemic.
The company, which plans to list its shares on the Nasdaq under the symbol “HNST,” said its revenue rose about 28 percent to $ 300 million for the year ended Dec. 31, with diapers and napkins accounting for about two-thirds of its sales. . .
The net loss for the period also fell to $ 14.5 million, from $ 31.1 million a year earlier, the Securities and Exchange Commission (SEC) said in a statement.
The company’s move to list its shares comes when it intends to strengthen its online business, while strengthening its presence in third-party vendors and in international markets, including in the profitable Asian region.
Honest of Los Angeles said it intends to use the proceeds from the offer to fund direct marketing and advertising to consumers, as well as to launch new products and buy complementary companies.
Morgan Stanley, Jefferies and JP Morgan are among the subscribers for the offer.
In January, Bloomberg News reported that Honest could seek an estimated $ 2 billion in an IPO.
Alba started Honesty in 2011, promoting its baby products as a safer alternative to those using synthetic chemicals, but the company was forced to settle a lawsuit in 2017 that allegedly fraudulently labeled dozens of baby products. personal and home care as natural, herbal. or without chemicals.