The Honest Company is an American consumer goods company, founded by actress Jessica Alba, who emphasizes household products to supply markets for ethical consumerism. The company has $ 250 million in sales in 2016 and is credited with embarrassed $ 1 billion as of October 2017. The Honest Company has amassed several rounds of venture capital and anticipates its initial public offering in 2016. Honestly serves the United States and Canada and plans to launch its beauty line product in Europe West by 2019.
Video The Honest Company
Histori
The founder of the company Jessica Alba was inspired by the birth of her first child in 2008, Honor, and her own childhood history to create a company that provides an alternative to common baby products with ingredients like petrochemicals and synthetic fragrances. She is forced to become serious about this venture when one of her mother's baby laundry recommendations causes her to experience a welt plague. Alba takes three years to find her business partner, Brian Lee, Sean Kane, and Christopher Gavigan. Despite suggestions that he should start small with a single focus, Alba launches the company in 2012 with 17 products. Christopher Gavigan wrote the book, Healthy Child Healthy World, which discusses all the different toxins that children experience in traditional household products. In the US, F.D.A has banned more than a dozen hazardous chemicals, while in Europe more than 1,300 chemicals are considered unsafe for household products. With this research, Alba and Gavigan decided to create a company that avoided placing 1,300 chemicals in its products.
While building his company, Alba has been lobbying the United States Congress to test consumer products on the market for tighter chemical inputs. The company has a strong charity mission that equates to Toms Shoes, Warby Parker, and Etsy. It contributes products, income, and labor.
Honest Corporate Sales of 2013 is $ 50 million. Honestly collect $ 70 million from venture capitalists in the summer of 2014 in preparation for an upcoming initial public offering. In August 2014, the company's products are available at retail stores in the United States and Canada. Financing puts a value on the company of $ 1 billion. Prior to the 2014 funding round led by the Wellington Management Company, the company has raised $ 52 million in financing from ICONIQ Capital, General Catalyst Partners, Institutional Venture Partners and Lightspeed Venture Partners. The company has plans to expand into the UK and Australia, but the 2014 summer funding is mainly to prepare for the launch in China. The company's press release said the funding was to assist product development and expansion. In November 2014, the company has 275 employees and is projected to generate $ 150 million in sales. 80% of its sales online through monthly subscription service with the rest done in department stores and discount warehouses. The company eventually reached $ 170 million in sales in 2014.
In July 2015, Jessica Alba announced that The Honest Company will move its headquarters from 2700 Pennsylvania Avenue in Santa Monica to the Los Angeles Playa Vista neighborhood in early 2016. The next month, announces a new round of funding generating an additional $ 100 million in venture capital, implying an assessment of $ 1.7 billion. At the end of 2015, the company acquired Alt12 Apps, popular application makers like Baby Bump, Pink Pad and Kidfolio. Until August 2015, the company never used traditional media such as print ads, television, or billboards.
In March 2017, The Honest Company announced that veteran Clorox Nick Vlahos would replace Brian Lee as Chief Executive Officer. Vlahos works to grow several Clorox brands, including Burt's Bees, Brita and Green Works. At that time, it was announced that Brian Lee would remain on board in advisory role. In early May some customers had difficulty with baby wipes because they had dark spots on the tissues. The test is done and confirmed that there are fungi in some products. The company apologizes for this problem and assures that their products are safe and free of fungus.
The packaging on the products is colorful and they reflect on four different scents. In front of the product they have labeled what chemicals they did not put into their products. Chemicals they do not use are said to be dangerous and potentially harmful chemicals. At the back of their products have included the safe chemicals they use. A
In October 2017, The Honest Company closed out a series of E series funding. After completing two lawsuits in the summer of 2017, the valuation was set at $ 19.60 per share down from Series D shares sold in 2015 at $ 45.75. Thus, the value of the company under 1 billion.
Maps The Honest Company
Products and Distribution
Honestly known for its safe products. The company also applauds its Honesty that it does not use "chemicals or compounds that sacrifice health", including the list of certain products promised will never be allowed in its products. Whole Foods and Costco are the Honorable Company's original retail distributors. The Company began selling at Target Corporation on June 15, 2014. Other stores carrying company products by mid-2014 include Buy Buy Baby and Nordstrom. At the end of the third quarter of 2014, the company brought 90 products. Its main selling product is diapers, at that time.
In 2015, the controversy surrounding the SPF 30 honest sunblock occurs when some customers complain of skin burns. These reports occur as soon as the product has been repackaged and reformulated by reducing the level of zinc oxide to enhance the aesthetics.
In March 2016, it was reported by The Wall Street Journal that Honest laundry detergent products contained "large quantities" of sodium lauryl sulfate or SLS, a synthetic surfactant that the company claims "will never consider for use in all Period. "In a direct response to the WSJ article, The Honest Company stated that the product does not contain SLS, but contains sodium coco sulfate which is characterized by The Honest Co. as a "better alternative" to the SLS. However, sodium coco sulfate is a mixture of synthetic chemicals consisting mainly of SLS. Honest detergent is sourced from Earth Friendly Products (EFP) which is not tested for SLS. EFP in turn purchased tested chemicals from Trichromatic West who also did not test the SLS. EFP has removed the SLS free product claim from its own website by the end of 2015.
In April 2016, Good Morning America reported that The Honest Company was sued to represent its infant formula as organic even though this product contains 11 synthetic substances prohibited under federal law in organic products. The Company Honestly states that infant formula has been FDA approved and certified USDA Organic in accordance with the National Organic Program. In December 2016, the Los Angeles Superior Court ruled for The Honest Company, refusing the complaint permanently.
In October 2016, it was reported that some customers had trouble trying to unsubscribe to the company's recurring diaper service. Shortly thereafter, Honestly announced it would release a new online cancellation feature. This brand began selling its products on CVS and Baby R Us in the spring of 2017, and in Amazon in July 2017.
Honest Beauty
On September 9, 2015, the company opened the Honest Beauty brand as a separate entity with its own website and logo. Honest Beauty is launched with a product line of 83 elements (17 skincare products and 66-piece makeup variety). Its products come from botanicals that are free of parabens, phthalates, petrolatum, sulfates and chemical sunscreens. The launch took place at Trump SoHo in New York. Beginning September 25 of that year, the brand opened the presence of bricks and mortar at a six-month pop-up retail store in The Grove. Brands started selling a line of beauty at Target in the spring of 2017.
Honest beauty line can be purchased on their website honestbeauty.com. They have also placed their products in Ulta Beauty, Target and Sephora. They have about 83 products ranging from facial makeup to skin care and hair care lines. The company created this line because their client asked the founders to create a safe and clean beauty line from harmful chemicals. By the end of 2016, The Honest Beauty is looking to be sold in Western Europe and Australia. Honest Beauty is reported to have reached more than $ 10 million in retail sales in October 2016. Honest Beauty is the only set of products scheduled for the 2019 corporate debut in Western Europe (Germany, France, Spain, Italy, Poland, Netherlands and Austria) at Douglas stores announced in May 2018.
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External links
- Official website
Source of the article : Wikipedia
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