By Christiana Sciaudone
Investing.com -- The Honest Company Inc (NASDAQ: HNST ), aka actress Jessica Alba's corporate project, is up 40% after raising more than $412 million in an initial public offering.
The consumer products company is valued at about $1.4 billion after shares were priced at $16.
Honest was founded a decade ago with a vow for transparency and safe, simple products. Demand for clean beauty products is expected to grow at a significant rate. Sales for the global clean beauty company are expected to increase more than 12% from 2020 to 2027, according to a January report by Brandessence Market Research.
Sales of $300 million in 2020 increased 28% from the previous year.
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