Alba’s The Honest Company, which she co-founded in 2012, has reached a $1 billion dollar valuation and landed her the cover of Forbes magazine’s “America’s Richest Self-Made Women” issue.
The Honest Company has been marketing products over the past couple of years and has a current valuation of slightly more than $1 billion. It employs over 200 people, all busy helping to produce and market a wide range of products targeted at families who want to enjoy using products that are safe for themselves and their children.
According to analysts, The Honest Company is expecting sales revenues in 2014 to be three times that of the previous year, at a little more than $150 million. Three out of every four of Alba’s customers opt for monthly delivery of her company’s products directly to their homes, including baby products such as diapers.
Alba reports that she and her own children personally use the products she markets through The Honest Company.
When people compliment her for her nice complexion, she tells them she gets her skin glowing by using the vegan, hypoallergenic Face and Body Lotion included in her company’s wide inventory of affordably priced products costing under $10.
Now the mother of three, Alba admits it has become her greatest challenge to balance her work as company executive with her duties as mom.
“I was like, ‘How can this be safe for babies if I’m having this type of reaction?’ ” she told Forbes.
Alba partnered with entrepreneurs Christopher Gavigan, Sean Kane and Brian Lee, who now serves as the company’s CEO, to create a brand synonymous with non-toxic products.
“I felt like my needs weren’t being met as a modern person,” she told the magazine. “I want beautiful design like everybody else. But it shouldn’t be premium-priced, and it should, of course, be safe.”
The company hit $10 million in revenue during its first year of selling products, and is predicted to reach over $250 million in 2015, according to Forbes.
While 75 percent of the company’s revenue stems from online sales, including their $79.95 monthly diaper bundles, the brand is also sold in stores like Whole Foods, Nordstrom and Target, and will debut in South Korea this year, according to Forbes.