Jessica Alba's Honest Co. Files for IPO -- Update

By Josh Beckerman

Honest Co., the consumer products company co-founded by actress Jessica Alba, filed for an initial public offering.

The company's offerings include diapers, baby clothes, skin care and bath products, household items and face masks. It emphasizes "living consciously," with efforts like its "NO List" of over more than 2,500 chemicals and materials it won't use.

The Los Angeles company's investors include L Catterton, Lightspeed Venture Partners, Institutional Venture Partners and General Catalyst.

Revenue last year rose 27.6% to $300.5 million.

Ms. Alba wrote in the filing that "while I've seen iconic companies that I grew up with disappear overnight, Honest has thrived by maintaining the spirit of a start-up with the soul of a powerhouse." She said during the pandemic, "people became more aware of their health and what they bring into their homes," and notes that the company created and brought to market a new Stay Safe cleaning collection in less than six months. She discussed Honest Co.'s "dynamic influencer strategy" and creation of "relevant, 'snackable' content that educates and entertains."

Honest Co., which was incorporated in 2011, has discussed a potential IPO at least as far back as 2014. In 2016, it was in talks for a sale to Unilever PLC.

The company applied for Nasdaq Global Select Market listing under symbol "HNST."

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

April 09, 2021 17:26 ET (21:26 GMT)

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