The Honest Co., the consumer products company founded by actress Jessica Alba, has filed for an IPO.
The Los Angeles-based company filed Friday to sell $ 100 million worth of stock, although that’s often a placeholder used to calculate the filing fee.
In the prospectus, Honest said revenue 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 per share in the prior year.
“Authenticity is our authority,” the company said. “When the COVID-19 pandemic hit and we locked up, people became more aware of their health and what they are taking home. Honestly was never hesitating to be there for them.
The company called itself “ nimble ” and said it was able to bring a new decontamination and cleaning collection to market in less than six months due to health issues with the novel coronavirus.
“We have experienced significant growth since our launch in 2012, including strong recent growth in households and wellbeing,” said Honest. “This growth has placed significant demands on our management, financial, operational, technology and other resources.”
Honestly to list stocks on the Nasdaq under the symbol HNST. Underwriters include Morgan Stanley, JPMorgan and Jefferies.
Fair bills itself as a maker of “natural” consumer products, from baby diapers to personal care and household products, that contain no chemicals they believe are harsh or potentially harmful to health and the environment.
“We believe that our consumers are modern, ambitious, aware and style-oriented and that they are looking for high-quality, effective and carefully designed products,” he said.
Over the years, several consumers have questioned the company’s claims that they use eco-friendly or organic ingredients in some of its products, including sunscreen and baby food.
In 2016, the company pledged to reformulate some of its cleaning products after The Wall Street Journal reported that some of its laundry detergents contained an ingredient it promised to avoid.