The ‘clean’ beauty brand’s initial public offering could fetch up to $2bn
Honest Beauty, the baby and beauty brand co-founded by American actress Jessica Alba, is preparing to file an initial public offering (IPO), according to people close to the matter.
The L Catterton-backed firm, helmed by Nick Vlahos, could file confidentially with the US Securities and Exchange Commission as soon as the end of the week.
The move, which could seek a valuation of some US$2bn, is a deviation from the LA-based company’s plan to sell for an estimated $1bn, they added.
In 2018, Alba conducted an overhaul of her billion dollar beauty brand after three years in business.
Born out of The Honest Company, which launched in 2012, the brand hit the ground running with more than 80 skus in its portfolio across make-up and skin care.
The new streamlined version of Honest Beauty halved its product line and reappeared with a model collection of 45 make-up skus.
Since the shake up, Honest has refocused its attention on ‘clean’ skin care with a vast array of products from cleansers and masks to creams and serums.
Meanwhile, in 2019, Alba brought her brand to the European beauty market, inking an exclusive retail deal with Douglas, followed by a partnership with Boots for customers in the UK.