In a tough market
Jessica Alba’s e-commerce startup, The Honest Co., is reportedly working with top investment banks with a view to listing on the stock markets.
The company the actress helped launched in 2011 has tapped Goldman Sachs GS -0.35% and Morgan Stanley MS -1.84% for an initial public offering, according to Bloomberg, citing people familiar with the matter. An Honest IPO would brave a market for new stocks that has been downright hostile. In January, amid an incredibly volatile stock market, not a single company debuted on the stock market for the first time since the height of the Financial Crisis in 2008
The Honest Co. declined to comment to Fortune.
A round of funding in August valued the sustainability- and transparency-focused company at as much as $1.7 billion, half a billion more than startup darling Warby Parker, and more than enough to make it a retail “unicorn.”
Honest had made a name for itself selling natural baby products, home cleaning, and beauty items on its own site, but also via the stores of retail giants Target TGT -0.51% and Whole Foods wmf .
The company has not been immune from controversy. Last year, Honest faced angry customers who claimed its sunblock did not work, which created an uproar on social media.
Source : http://fortune.com
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