The Sincere Co., the consumer-products firm based by actress Jessica Alba, has filed for an preliminary public providing.

The Los Angeles-based firm on Friday filed to promote $100 million value of shares, though that’s usually a placeholder used to calculate submitting charges.

Within the prospectus, Sincere mentioned its gross sales grew 27.6% to $300.5 million in 2020, from $235.6 million in 2019. It misplaced $14.5 million in 2020, or 85 cents a share, in contrast with a lack of $1.83 a share within the earlier yr.

“Authenticity is our authority,” the corporate mentioned. “When the COVID-19 pandemic hit and we went into lockdown, individuals grew to become extra conscious of their well being and what they create into their houses. Sincere by no means wavered in being there for them. “

The corporate billed itself as “nimble,” saying that amid well being considerations with the novel coronavirus it was capable of convey to market a brand new sanitizing and cleansing assortment in lower than six months.

“We have now skilled vital progress since our launch in 2012, together with sturdy latest progress in family and wellness,” Sincere mentioned. “This progress has positioned vital calls for on our administration, monetary, operational, technological and different assets.”

Sincere filed to listing shares on the Nasdaq below the image HNST. Underwriters embody Morgan Stanley, JPMorgan and Jefferies.

Sincere payments itself as a maker of “pure” client merchandise, from child diapers to personal-care and family merchandise, that don’t have chemical compounds it says are harsh or doubtlessly dangerous to well being and the atmosphere.

“We consider that our shoppers are fashionable, aspirational, acutely aware and style-forward and that they search out top quality, efficient and thoughtfully designed merchandise,” it mentioned.

Through the years, a number of shoppers have questioned the corporate’s claims of utilizing environmentally pleasant or natural substances in a few of its merchandise, together with sunscreen and child system.

In 2016, the corporate vowed to reformulate some of its cleaning products after The Wall Avenue Journal reported that a few of its laundry detergents had an ingredient it had pledged to avoid.

Pronews
Author: Pronews