The Honest Company
The Honest Company is a consumer goods firm that was founded back in 2011 by actress Jessica Alba (The Honest Co., n.p). Other founders of the Honest Company include Christopher Gavigan, Sean Kane, Brian Lee and Maria Ivette. The company offers household products cleaning detergents, personal and baby care products among others. Back in 2008, Alba was motivated to start the company by the birth of her first child together with her childhood sickness (The Honest Co., n.p). The inspiration to start the company was further reinforced by her child’s illness that was caused by baby care products. After three years, Alba succeeded and found four business partners who participated in the launching of the company. By the end of the first year, The Honest Company had 17 products only that revolved around baby care and cleaning products.
After three years of operation, the company recorded gross sales of approximately $50 million (Macmillan & Rolfe, n.p). By 2014, The Honest Co. had a total of 275 employees and projected to raise approximately $150 million in revenue (Macmillan & Rolfe, n.p). As a matter of fact, the company was able to raise more than $160 million in terms of sales by the end of fiscal year 2014. The valuation of the company by 2014 was approximately $1 billion (Macmillan & Rolfe, n.p). Since then, the company has made several mergers and acquisitions with companies such as Alt12 Apps and others which increased their valuation to $1.7 billion in the current market (Macmillan & Rolfe, n.p). Generally, The Honest Co. has dominated their target market within four years of operation. The tremendous success of the company has been promoted by their best services in delivering premium family essentials to their customers.
Reference
The Honest Co. Our story: who we are. 2016. Retrieved from https://www.honest.com/about-us/who-we-are
Macmillan, Douglas & Rolfe Winkler. “Jessica Alba’s Startup, Honest, Valued At $1.7 Billion” The Wall Street Journal. 13th August 2015. Retrieved from http://www.wsj.com/articles/jessica-albas-startup-honest-valued-at-1-7-billion-1439477917
