Jessica Alba’s wellness brand The Honest Company to float on stock market with $1.9 billion valuation
Actress Jessica Alba’s business move has paid off, with the star’s company to float on the stock market with an eye-watering price.
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Jessica Alba’s wellness brand The Honest Company could be valued at nearly $US1.5 billion ($A1.9 billion).
The Honest Co, a clean beauty, baby product and household company, set the terms of its initial public offering offering a total of 25.81 million shares expected to price between $US14 ($A18) and $US17 ($A22) per share.
The Los Angeles-based company is slated to list on the US stock exchange Nasdaq and would trade under the stock ticker HNST.
The actress, known for her roles in the film Fantastic Four and TV series Dark Angel, founded Honest in 2011 selling products like prenatal vitamins, baby products, shampoo and other household items said to be made with clean ingredients and advertised as better alternatives to synthetic chemicals.
Alba’s product line is sold at thousands of retail locations including at stores like US Target, Costco and on Amazon, among others.
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The firm has faced some setbacks along the way. In 2016, a lawsuit was filed against the company claiming it “falsely” labelled its cleaning products as natural accusing the brand of using harsh chemicals.
Honest reached a $US7.35 million ($A9.42 million) settlement for wrongly labelling ingredients in some products as natural, plant-based or chemical-free.
It is planning to strengthen its online business and bolster its presence in international markets.
The float funds will be used for marketing and direct-to-consumer advertising, as well as to launch new products and buy complementary businesses.
This story originally appeared on Fox News and is reproduced here with permission
Originally published as Jessica Alba’s wellness brand The Honest Company to float on stock market with $1.9 billion valuation
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