The Honest Company has received a $200 million strategic minority investment from global consumer-focused private equity firm L Catterton, the former announced.
The Honest Company will use the investment to further promote global scale via opening new distribution channels and to bolster its supply channel. It recently announced an exclusive distribution partnership with European beauty retailer Douglas, which will see the company’s full range of products to seven European countries beginning spring 2019.
L Catterton identifies and invests in consumer companies, particularly consumer packaged goods and natural and better-for-you brands.
The Honest Company will continue to be led by its current management team, including CEO Nick Vlahos, and operate out of its headquarters in Los Angeles. Under Vlahos’ leadership, the company has recorded double-digit retail growth of its diaper business. By the end of the year, it plans on launching more than 80 new and improved baby and beauty products, including a diaper-related innovation and a re-imagining of its clean beauty products.
“It has always been my dream to grow The Honest Company into a global brand,” said Jessica Alba, founder of The Honest Company. “Our mission from day one has been to empower people to live happy and healthy lives, and we are always in search of new ways to bring that to life. This partnership will enable us to empower more people in more places by delighting them with products that meet their desire for safety, design and performance.”