Sales: $300 million (estimated).
Key Personnel: Jessica Alba, founder; Christopher Gavigan, founder and chief product officer; Nick Vlahos, chief executive officer.
Major Products: Personal and household care items such as shampoo, detergent and diapers, and more recently, beauty products.
New Products: Honest Beauty Younger + Clearer wrinkle and acne treatment.
Comments: It’s been more than a year since Nick Vlahos came over from Clorox to turn around the fortunes of The Honest Company, which was once the darling of investors and environmentally-conscious consumers. Vlahos started his tenure by cutting 80 jobs in the first quarter of 2018.
According to the company, under his leadership, Honest has achieved double-digit retail growth of its diaper business and has doubled its distribution as well as its rate of innovation. Now, The Honest Company is realigning its business in the categories and segments where global consumers and retailers are demanding more natural offerings—baby and beauty—and focusing its operations to ensure efficiency. By the end of the year, The Honest Company maintains that it will launch more than 80 new and improved baby and beauty products including the company’s most significant diaper innovation since its inception and a reimagined lineup of high-performance clean beauty products.
Some investors certainly like Vlahos’ progress. Last month L Catterton made a $200 million investment to fund innovation initiatives as well as provide access to operational capabilities that will bolster its supply chain and global reach.
In other news, Honest reached an exclusive retail distribution partnership with Douglas, the No. 1 beauty retailer in Europe with more than 2,500 stores. This partnership will bring the full Honest Beauty line to seven European countries starting in spring 2019.