Jessica Alba, co-founder of the actress and Honest Company, poses for a photo while promoting The Honest Company.
Mat Howard | Getty Images
Honest Co., a consumer goods business founded by actress Jessica Alba, made a U.S. public offering on Friday after a strong year driven by a pandemic-driven increase in demand for baby products, lotions and disinfectants.
The company, which plans to list its shares on the Nasdaq under the symbol “HNST”, said its revenue rose 28% to $ 300 million for the year ended December 31, with diapers and cloths covering about two-thirds of its sales. .
The net loss for the period also decreased to $ 14.5 million from $ 31.1 million a year earlier, according to an application to the US Securities and Exchange Commission (SEC).
The company’s intention to list its shares comes as it intends to strengthen its online business, while strengthening its presence with third-party sellers and in international markets, including the lucrative Asian region.
Honest, based in Los Angeles, says they plan to use the proceeds from the offer to fund marketing and advertising directly to the consumer, as well as to introduce new products and buy ancillary businesses.
Morgan Stanley, Jefferies and JP Morgan are among the underwriters for the offer.
In January, Bloomberg News reported that Honest could obtain a valuation of about $ 2 billion in a stock market.
Alba started Honest in 2011 and identified its baby products as a safer alternative for those using synthetic chemicals, but in 2017 the company was forced to file a lawsuit alleging that it deceived dozens of home and personal care products as natural, plant-based products labeled or chemical-free.