Jessica Alba’s eco-friendly Company Sale could make her Silicon Valley’s Richest Woman
Actress, mother, and business woman Jessica Alba could become Silicon Valley’s richest woman if the sale of her company, Honest Company, goes through.
Valued at $1bn, it is believed that Unilever are in talks with Alba’s company with a view to buy it.
Honest Company was co-founded by Alba, Brian Lee, Sean Kane, and Christopher Gavin in 2011 and featured eco-friendly products such as diapers, lotions, and cleaning products that were free from ‘harsh chemicals’. As the company grew to a $300m a year enterprise it added a cosmetic product range under the brand Honest Beauty. Products included lip gloss, blush, and mascara, again made without ‘harsh chemicals’.
According to the Wall Street Journal, Honest Company attracted $200m from outside investment, and Unilever will substantially increase its market share of ‘green’ cleaning products and diapers should the sale go through.
Eco in Demand – We all want to save the planet
What is clearly evident from the success of Honest Company is that eco-friendly products are in demand. Honest Company has not always had an easy ride. Currently it faces class action lawsuits from customers who claim Honest Company’s sunscreen failed to protect them, while the Wall Street Journal claimed some of their detergent products had been found to contain sodium lauryl sulphate. This substance is classed as a ‘harsh’ chemical.
Both claims have been refuted by Honest Company with Alba stating her company was an “easy target” for exploitation and bad press.
Nonetheless, one of the biggest companies in the world wants Honest Company and its product range. This can only be due to the fact that eco friendly products are in demand by the consumer, and that due to its outstanding success; Unilever has identified buying Honest Company as the best way to break into lucrative ‘green’ markets.
Jessica Alba and the co-founders of Honest Company deserve praise by bringing good eco products and the eco cause to the public.
Source: Daily Mail