Sales: $315 million
Sales: $315 million (estimated).
Key Personnel: Jessica Alba, founder; Nick Vlahos, chief executive officer; Don Frey, chief innovation officer; Shannon Pruitt, chief marketing officer.
Major Products: Personal care, beauty and cleaning products. Honest also markets feminine care products, vitamins, diapers and baby formula.
Comments: It has been a little over a year since The Honest Company received a $200 million strategic minority investment from private investment firm L Catterton. At the time, the two firms said the infusion would help “accelerate The Honest Company’s innovation initiatives as well as provide access to operational capabilities that will bolster its supply chain and global reach.”
“L Catterton is the right partner for The Honest Company based on its expertise and extensive resources which will fuel our evolution into an iconic global brand,” said CEO Nick Vlahos in June 2018. “We will continue to execute against our strategy, which includes focusing our business on the baby and beauty categories. This investment will enhance our next chapter and accelerate the realization of our vision for the future.”
Around the same time, Honest also announced that it had inked a deal with Douglas, a leading beauty retailer in Europe with more than 2,500 stores, which would roll out Honest Beauty products to seven European countries in Spring 2019.
Founder Jessica Alba has been working hard to make women a greater part of the Honest team. According to reports, she has increased the percentage of women on the leadership team from 15% to 60%. She also developed an internal group called Women Excelling in Leadership and Living, known as WELL. In November 2018, Katie Bayne, a long-time Coca-Cola executive, was appointed to the board of directors.
One of Honest Company’s co-founders, Christopher Gavigan, has moved on from diapers and personal care to CBD. He has co-founded Prima, which offers a supplement and two skin care products formulated with the hot ingredient. Laurel Angelica Myers, who was also part of the Honest team, is also listed as one of Prima’s co-founders.