The Honest Co., the consumer products company founded by actress Jessica Alba, has filed an initial public offering.
On Friday, the Los Angeles-based company filed for $ 100 million worth of shares, though it is often a position marker used to calculate filing fees.
In the prospectus, Honest said its sales grew 27.6%, to $ 300.5 million in 2020, from $ 235.6 million in 2019. It lost $ 14.5 million in 2020, that is, 85 cents per share, compared to a loss of $ 1.83 per share the previous year.
“Authenticity is our authority,” the company said. “When the COVID-19 pandemic came and we entered a closure, people were more aware of their health and what they bring home. Honest never hesitated to be there for them. “
The company declared itself “agile,” saying that in the midst of health concerns with the new coronavirus, it was able to launch a new collection and cleaning kit in less than six months.
“We have experienced significant growth since our launch in 2012, including strong recent growth in the home and wellness,” Honest said. “This growth has demanded significant resources from our management, financial, operational, technological and other resources.”
Honest presented the Nasdaq stock list under the symbol HNST. Subscribers include Morgan Stanley, JPMorgan and Jefferies.
Honest is billed as a manufacturer of “natural” consumer products, from baby diapers to personal and home care products, which have no chemicals that he says are harsh or potentially harmful to to health and the environment.
“We believe our consumers are modern, aspirational, style-conscious and capable and looking for high-quality, effective and carefully designed products,” he said.
Over the years, several consumers have questioned the company’s claims to use organic or organic ingredients in some of its products, including sunscreens and baby formulas.
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 had pledged to avoid.