L Catterton's The Honest Company to file IPO
Baby and beauty products company The Honest Company is quietly preparing to go public.
According to reports, the company could be valued at as much as $2 billion in an initial public offering (IPO). It is expected to file with the U.S. Securities and Exchange Commission as early as Friday.
“As we continue pursuing our mission to inspire everyone to love living consciously, we regularly explore all various financial strategies and options,” a representative for Honest said in a statement to Bloomberg.
The Los Angeles-based company, co-founded by actress Jessica Alba and backed by L Catterton, is the latest consumer brand to jump into the red hot IPO market.
Last month, German online luxury retailer Mytheresa was valued at $2.2 billion in its initial public offering in New York. Prior to that, online secondhand store Poshmark saw shares more than double in the retailer's public debut.
Most recently, Hudson's Bay Company is reportedly working to spin off Saks.com into a public company.
Founded in 2012, The Honest Company is committed to full product disclosure, and clearly labelling and defining all ingredients on its packaging. The brand avoids more than 3,000 ingredients known to be harmful to health or the environment.
The IPO comes as the market for natural and organic beauty continues to grow around the world.
L Catterton’s past and present portfolio of brands includes the likes of Elemis, Bliss, Il Makiage, Frederic Fekkai, Nutrafol, and Tula.
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