Jessica Alba Building A $1 Billion Business, The Honest Co.

05 Oct 2014 04:21

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It's not just acting that is bringing in the big bucks for actress and beauty Jessica Alba, it's also her lifestyle brand The Honest Co., valued at a little less than $1 billion.
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According to Dow Jones VentureWire her company, which launched in 2012, is a private company moving towards an IPO that is possibly worth millions.
Alba is now in the market of selling "a trustworthy lifestyle brand that touched everything in your home, that was nontoxic and affordable and convenient to get," she told The Hollywood Reporter.
Alba was a child that was hospitalized for asthma and other heath issues as a child and when she was pregnant with her first child seven years ago she broke out in a rash while using detergents. This is when she saw a niche in the market to utilize a nontoxic avenue for products such as The Honest Co.
She now has a 6,000 square-foot Santa Monica office and more than 200 employees. The company sells online as well as in popular stores such as Nordstrom, Targetand Whole Foods.
Alba and business partner, former attorney turned entrepreneur Brian Lee, are basking in the potential $150 million profits from last year, that are supposedly tripling this year.
Though success is in the near future for Alba and Lee, that doesn't mean there weren't tough times.
"I spent a lot of nights crying and being devastated but more determined the next day to make it happen," she said. "I pitched my idea to a lot of smart people and businesspeople [and] talked to a bunch of bankers and Internet guys."
She leaves the business side to Lee, as she admits that she is "not a businessperson. I'm terrible at math."
However she uses her acting skills which gave her the strength to start the company and she trusts her gut when applying business strategies.
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