The Honest Co., the consumer-products firm based by actress Jessica Alba, has filed for an preliminary public providing.
The Los Angeles-based firm on Friday filed to promote $100 million price of shares, though that’s typically a placeholder used to calculate submitting charges.
In the prospectus, Honest mentioned its gross sales grew 27.6% to $300.5 million in 2020, from $235.6 million in 2019. It misplaced $14.5 million in 2020, or 85 cents a share, in contrast with a lack of $1.83 a share within the earlier yr.
“Authenticity is our authority,” the corporate mentioned. “When the COVID-19 pandemic hit and we went into lockdown, people became more aware of their health and what they bring into their homes. Honest never wavered in being there for them. “
The company billed itself as “nimble,” saying that amid well being issues with the novel coronavirus it was in a position to carry to market a brand new sanitizing and cleansing assortment in lower than six months.
“We have experienced significant growth since our launch in 2012, including strong recent growth in household and wellness,” Honest mentioned. “This growth has placed significant demands on our management, financial, operational, technological and other resources.”
Honest filed to checklist shares on the Nasdaq below the image HNST. Underwriters embrace Morgan Stanley, JPMorgan and Jefferies.
Honest payments itself as a maker of “natural” shopper merchandise, from child diapers to personal-care and family merchandise, that don’t have chemical compounds it says are harsh or doubtlessly dangerous to well being and the setting.
“We believe that our consumers are modern, aspirational, conscious and style-forward and that they seek out high quality, effective and thoughtfully designed products,” it mentioned.
Over the years, a number of shoppers have questioned the corporate’s claims of utilizing environmentally pleasant or natural substances in a few of its merchandise, together with sunscreen and child formulation.
In 2016, the corporate vowed to reformulate some of its cleaning products after The Wall Street Journal reported that a few of its laundry detergents had an ingredient it had pledged to avoid.
