Baby and beauty products company The Honest Company, which was founded by actress Jessica Alba, is quietly preparing to conduct an initial public offering (IPO), Bloomberg reported, citing unnamed sources.
The company could be valued at as much as $2 billion, and an IPO could come as soon as Friday (Feb. 5), Bloomberg reported. As of Sunday (Jan. 31), no filing had been made with the U.S. Securities and Exchange Commission.
Barron’s reported that in response to a question about a possible IPO, an Honest spokeswoman responded via email: “As we continue pursuing our mission to inspire everyone to love living consciously, we regularly explore all various financial strategies and options.”
A representative of investment fund L Catterton, which owns a stake in The Honest Company, declined to comment on a possible IPO, Bloomberg reported.
Just last week, Honest announced the hiring of a new chief financial officer, Kelly Kennedy.
“Kelly is a strong female leader with diverse experience growing businesses and her support on our executive team will help drive the business forward,” Alba said in a statement. “She is joining us at the right moment in our journey as we continue to expand internationally and scale our business.”
Honest was launched in 2012 and sells its products online and through 32,000 retail locations, according to the statement.
L Catterton’s broad swath of portfolio companies has included providers of products ranging from restaurants to fitness clubs to baby products to Italian racing bicycles.
In recent years, major retail players including Amazon, with its Earth + Eden diapers, and Walmart have entered into the business of selling high-end baby products.
Alba starred in the television show “Dark Angel” and films including “Sin City” and “Fantastic Four.”
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More