THE WHAT? Jessica Alba’s original idea, The Honest Company, is expected to be listed on the Nasdaq Stock Exchange at a valuation of $ 1.4 billion, signaling a return for the company, according to a report from FT.com.
THE DETAILS The clean beauty business, which has yet to be profitable, has been the subject of a series of lawsuits and product recalls.
In 2017, Honest recalled baby wipes due to mold in the packaging and baby powder on skin and eye infection issues.
Regarding the IPO prospectus, Alba said: “Our rapid growth was compromising key business functions.
However, after enjoying a period of success during the pandemic as consumers searched for cleaning supplies and housewares, Honest’s revenue grew from $ 236 million in 2019 to $ 300 million in 2020.
THE WHY ? The recent rating assessment indicates that the company is moving in the right direction. As Alba steps down from the board, the actress will continue to lead the creative side of the brand as Creative Director.
According to the IPO, “Jessica Alba is a globally recognized Latin American business leader, entrepreneur, lawyer, actress and New York Times bestselling author. Our brand can. . . depend on Ms. Alba’s positive image and public popularity to maintain and increase brand recognition.