EFP had removed its claims of SLS-free product from its own website in late 2015. EFP in turn purchased untested chemicals from Trichromatic West which also did not test for SLS. Period." Honest's detergent is sourced from Earth Friendly Products (EFP) which did not test for SLS. In March 2016, it was reported by The Wall Street Journal that Honest's liquid laundry detergent product contained "a significant amount" of sodium lauryl sulfate or SLS, a synthetic surfactant that the company claimed it would "never consider for use in anything. In the fall of 2022, Honest Company partnered with SuperOrdinary to launch in China on the e-commerce platform, Tmall Global. In the Ulta partnership, Honest released its first acne line. In 2022, Honest expanded and formed retail partnerships with Walmart, Ulta, and GNC. Under Vlahos as CEO, Honest Company expanded its internal laboratories and R&D team and opened a fulfillment center. By the end of the third quarter of 2014, the company carried 90 products. Other stores that carried the company's products by mid 2014 included Buy Buy Baby and Nordstrom. The company began selling in Target Corporation on June 15, 2014. Whole Foods and Costco were The Honest Company's initial retail distributors. The company does not use "health-compromising chemicals or compounds", including the "No List" of ingredients that it promises to never allow in its products. The Honest Company markets its products as safe and eco-friendly. The company began trading on the NASDAQ exchange with ticker symbol HNST on May 5, 2021. In April 2021, The Honest Company officially filed for an initial public offering. After settling two lawsuits in the summer of 2017, the valuation was set at $19.60 per share down from the Series D shares sold in 2015 at $45.75, and market value of less than $1 billion. In October 2017, The Honest Company closed a series E round of funding. Brian Lee would remain on the board in an advisory role. Vlahos worked on several Unilever brands, including Burt's Bees, Brita and Green Works. In March 2017, The Honest Company announced that Nick Vlahos would replace Brian Lee as chief executive officer. In late 2015, the company acquired Alt12 Apps, the makers of popular apps such as Baby Bump, Pink Pad, and Kidfolio. The following month, it announced a new round of funding that generated an additional $100 million of venture capital, implying a valuation of $1.7 billion. In 2016, The Honest Company moved its headquarters from Santa Monica to the Playa Vista neighborhood of Los Angeles. In November 2014, 80% of the company's $170 million in sales were online via a monthly subscription service with the remainder being done in department stores and discount warehouses. Prior to the 2014 round of financing led by Wellington Management Company, the company had raised $52 million in financing from ICONIQ Capital, General Catalyst Partners, Institutional Venture Partners and Lightspeed Venture Partners. The financing put a value on the company of $1 billion. As of August 2014, the company's products were available at retail stores in the United States and Canada. Honest raised $70 million from venture capitalists in the summer of 2014 in preparation for an initial public offering. In 2013, The Honest Company's sales reached $50 million. The company was launched in 2012 with 17 products. History Jessica Alba, co-founder of The Honest CompanyĬompany co-founder Jessica Alba was inspired by the 2008 birth of her first child and her own history of childhood illnesses to create a company that provided an alternative to baby products with ingredients such as petrochemicals and synthetic fragrances. Honest serves the United States, China, Canada, and Europe. The Honest Company has raised multiple rounds of venture capital, and went public via initial public offering in May 2021, generating over $100 million in capital. Chief Executive Officer Carla Vernón is one of the first Afro-Latina CEO of a U.S. The company had $319 million in 2021 sales, and was valued at roughly $550 million as of February 2022. is an American digital-first consumer goods company, based in Los Angeles and founded by actress Jessica Alba, Christopher Gavigan, and Brian Lee.
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