UN - Consumer products' Honest Company files for initial public offering

The Honest Company - the consumer products firm founded by actor Jessica Alba - has filed for a long-awaited initial public offering. The company lists a placeholder IPO value of $100M.It's seeking a ticker listing on Nasdaq under [[HNST]]. Lead underwriters include Morgan Stanley, J.P. Morgan, Jefferies, BofA Securities, Citigroup, William Blair and Guggenheim Securities. For the year ended Dec. 31, 2020, the company notes revenues of $300.5M (up from 2019 revenue of $235.6M), gross profit of $107.9M, and an operating loss of $13.5M (narrowed from 2019's loss of $31.5M). Net loss narrowed to $14.5M from a 2019 loss of $31.1M. The company points to "significant competition" well-known legacy consumer product players, as well as emerging direct-to-consumer brands. In diapers and wipes, it notes rivals in Huggies maker Kimberly-Clark (KMB), Pampers/Luvs maker Procter & Gamble (PG), Johnson & Johnson (JNJ), WaterWipes and private labels. In skin and personal care, it

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Consumer products' Honest Company files for initial public offering