The Honest Co., the consumer products business founded by actress Jessica Alba, has submitted an initial public offering.
The Los Angeles-based company sold $ 100 million worth of shares on Friday, though it is often a placeholder used to calculate the fee.
In the prospectus, Honest said its sales grew by 27.6% to $ 300.5 million in 2020, from $ 235.6 million in 2019. It lost $ 14.5 million in 2020, or 85 cents per share, compared to a loss of $ 1.83 per share in the previous year.
“Authenticity is our authority,” the company said. ‘When the COVID-19 pandemic struck and locked us up, people became more aware of their health and what they were bringing into their homes. Honestly never hesitated to be there for them. ‘
The company described itself as ‘smart’ and said that in the midst of health problems with the new coronavirus, it could bring a new collection for disinfection and cleaning in less than six months.
“We’ve seen significant growth since our launch in 2012, including strong recent growth in household and wellness,” Honest said. “This growth has placed significant demands on our managerial, financial, operational, technological and other resources.”
Honestly submitted to list shares on the Nasdaq under the symbol HNST. Underwriters include Morgan Stanley, JPMorgan and Jefferies.
Honest declares itself as a manufacturer of ‘natural’ consumer products, from baby wipes to personal care and household products, which do not contain chemicals, which they say are harmful or harmful to health and the environment.
“We believe that our consumers are modern, aspirational, conscious and stylish and that they are looking for high quality, effective and thoughtful design products,” he said.
Over the years, several consumers have questioned the company’s claims that it has used environmentally friendly or organic ingredients in some of its products, including sunscreen and baby formula.
In 2016, the company promised to reformulate some of its detergents after The Wall Street Journal reported that some of its detergents contained an ingredient they had promised to avoid.