Honest, the e-commerce startup co-founded by actress Jessica Alba, made a less significant but significant entry into the New York Stock Exchange on Tuesday. Cosmetics and Natural Skin Care sold 25.8 million shares for $ 16 each, with Morgan Stanley, Jefferies and J.P. Raised $ 412.8 million, including Morgan. The IPO is valued at $ 2.5 billion, according to the company Bloomberg. The offer is scheduled to close tomorrow subject to the usual conditions.
Launched in 2011 by Brian Lee, Christopher Gavigan, Sean Kane and Jessica Alba, Honest sells natural products such as shampoo, baby products and cosmetics on its own website. The company has partnered with major markets such as Amazon, Target and Costco. During the Covid 19 epidemics, Honest emphasized health and hygiene products that would help achieve 28% growth by 2020.
An international view
These new funds will allow it to finance its marketing division and expand internationally. In fact, Honest is still an American company that is struggling to find a place, especially in Europe, where it has signed a joint venture agreement with the Nocibe Group. The IPO plan was already on schedule from 2016, but the company was at the center of a controversy during this period.
In fact, the group’s image was tarnished after the trial The Wall Street Journal In 2016, the company’s “natural” products revealed the presence of really harsh chemicals. Honesty has been the subject of numerous complaints following these allegations, resulting in customers receiving compensation.
“Since our inception, Honesty has worked hard to make this company a place that gives us confidence and transparency at the forefront of everything we do and every product we make.” Announced the actress for her role in “The Fantastic Four”. ” We take this responsibility seriously. “