Actress and co-founder of Honest Company, Jessica Alba, poses for a photo while advertising The Honest Company.
Mat Howard | Getty Images
Honest Co, a consumer goods company founded by actress Jessica Alba, filed for a US IPO on Friday after a strong year driven by a pandemic-induced surge in demand for baby products, lotions and sanitizers.
The company, which plans to list its shares on the Nasdaq under the symbol “ HNST, ” said its revenues for the year ended December 31 were up about 28% to $ 300 million, with diapers and wipes about two-thirds of its turnover. .
The net loss for the period also decreased to $ 14.5 million from $ 31.1 million a year earlier, according to a filing with the United States Securities and Exchange Commission (SEC).
The company’s move to list its shares is because it plans to strengthen its online business, while strengthening its presence with third-party sellers and in international markets, including the lucrative Asian region.
Based in Los Angeles, Honest said it planned to use the proceeds from the offering to fund marketing and direct-to-consumer advertising, launch new products and buy additional businesses.
Morgan Stanley, Jefferies and JP Morgan are among the insurers of the offering.
In January, Bloomberg News reported that Honest could aim for a valuation of about $ 2 billion in an IPO.
Alba started Honest in 2011, touting its baby products as a safer alternative to products that use synthetic chemicals, but the company was forced to settle a lawsuit in 2017 alleging it fraudulently labeled dozens of home and personal care products as natural, vegetable products. or chemical free.