The Honest Co., the consumer-products business established by starlet Jessica Alba, has actually declared a going public.
The Los Angeles-based business on Friday submitted to sell $100 million worth of shares, although that’s often a placeholder used to compute filing costs.
In the prospectus, Honest stated its sales grew 27.6% to $300.5 million in 2020, from $235.6 million in 2019. It lost $14.5 million in 2020, or 85 cents a share, compared to a loss of $1.83 a share in the previous year.
” Credibility is our authority,” the company stated. “When the COVID-19 pandemic hit and we entered into lockdown, people became more familiar with their health and what they bring into their houses. Honest never wavered in being there for them. ”
The company billed itself as “nimble,” stating that amidst health concerns with the unique coronavirus it had the ability to bring to market a new sterilizing and cleaning up collection in less than 6 months.
” We have experienced significant development given that our launch in 2012, including strong recent growth in home and health,” Honest said. “This development has actually positioned significant needs on our management, monetary, functional, technological and other resources.”
Sincere submitted to list shares on the Nasdaq under the sign HNST. Underwriters include Morgan Stanley, JPMorgan and Jefferies.
Sincere bills itself as a maker of “natural” consumer items, from infant diapers to personal-care and household products, that don’t have chemicals it says are harsh or possibly harmful to health and the environment.
“Our company believe that our customers are modern, aspirational, mindful and style-forward which they look for high quality, effective and thoughtfully created items,” it stated.
For many years, several customers have questioned the company’s claims of using eco-friendly or organic ingredients in some of its products, consisting of sunscreen and baby formula.
In 2016, the company promised to reformulate a few of its cleansing items after The Wall Street Journal reported that a few of its laundry cleaning agents had a component it had vowed to avoid.