Big news for Jessica Alba—the company she founded, The Honest Company, which makes ec0-friendly baby products, is now valued at $1 billion according to The Wall Street Journal. The company is even preparing for an IPO, and looking to expand into China.
Alba launched the venture back in 2012, hawking non-toxic diapers and other natural baby products, and has since expanded the line to include other environmentally sensitive products. According to the company, and as reported by WSJ, annual revenue is expected to be north of $150 million in 2014, three times the revenue the company brought in 2013. As of now, about 80 percent of Honest’s revenue comes from its monthly subscription service which delivers diapers and other consumer products on a recurring basis.
Jeremy Liew, a partner with early investor Lightspeed Venture Partners, gushed to WSJ about Alba’s involvement saying: “She is an international star. We’re starting to see a lot of demand from her fans around the world…This idea for non-toxic, chemical free products has resonated around the world in developed and developing countries.”
It’s a pretty remarkable achievement for Alba, who—while famous for her good looks and roles in movies like “Sin City” and “Honey”—has never had that big breakthrough acting moment during her career. It’s hard to not draw parallels to the success Jessica Simpson found with her namesake shoe line she launched in conjunction with Vince Camuto, a brand that’s also valued at around $1 billion.
Are you surprised by how well Alba’s The Honest Co. is doing? Share your thoughts in the comments!