Honest Co., a consumer products company founded by actress Jessica Alba, has applied for an initial public offering.
The Los Angeles-based company on Friday filed to sell $ 100 million worth of shares, though that’s usually a portion of the placeholder used to calculate the filing fee.
In the prospectus, Honest said its sales were up 27.6% to $ 300.5 million by 2020, from $ 235.6 million in 2019. It had a loss of $ 14.5 million. by 2020, or 85 cents a share, compared with a loss of $ 1.83 a share the year before.
“Authenticity is our authority,” the company said. “When the COVID-19 pandemic hits and we have to shut it down, people become more aware of their health and what they bring into their homes. Honesty never wavered there for them. “
The company claims to be “agile,” saying that amid health concerns with the new coronavirus, it could market a new cleaning and disinfection collection in less than six months.
“We have seen significant growth since our launch in 2012, including recent strong growth in the home and health sectors,” Honest said. “This growth has placed significant demands on our management, finance, operations, technology and other resources.”
Honest has filed to list shares on the Nasdaq with the symbol HNST. Underwriting firms include Morgan Stanley, JPMorgan and Jefferies.
Honest identifies itself as a manufacturer of “natural” consumer products, from baby diapers to personal care and home products, free from chemicals that the company says are harsh or capable of potential harm to health and the environment.
“We believe our consumers are modern, aspiring, style conscious and oriented people who seek high quality, efficient and thoughtfully designed products,” it says.
Over the years, a number of consumers have questioned the company’s claims to use organic or eco-friendly ingredients in some of its products, including sunscreens and baby powdered milk.
In 2016, the company is committed to reformats some of its cleaning products after The Wall Street Journal reported that certain types of laundry detergent there’s one ingredient it’s committed to avoiding.