Sales: $154 million
Note: $154 million (estimated) for personal care products. Corporate sales: $280 million
Key personnel: Jessica Alba, founder; Nick Vlahos, chief executive officer
Major products: Skin care, baby care, home care and beauty
New products: Honest Mama, Beauty Sleep Resurfacing Serum, baby care in travel sizes
Comments: In Q4 2019, The Honest Company expanded its partnership with Walgreens with the introduction of Honest Beauty in 750 Walgreens stores across the US and online at Walgreens.com. Now, the company’s products can be found in 31,000 locations. This was the latest retail expansion move for Honest, which was founded in 2012 as a DTC firm, but has since shifted to an omnichannel strategy. And that’s paying off; Nick Vlahos told Vogue Business that sales rose 20% last year.
Vlahos added that sales have risen 20% in the past year, and 32% during the quarantine period beginning in early March. For 2020, the company’s sales are expected to top $350 million. During the pandemic, the company has promoted self-care products with related content above all else, leading to an uptick in sales for its skin care products, which have tripled their sales since last year.
Honest Beauty said it would donate $100,000 to organizations fighting racial injustice, including the NAACP Legal Defense and Educational Fund and the Equal Justice Initiative.