Jessica Alba in the Honest Beauty ad campaign.

Morgan Stanley, J.P. Morgan and Jefferies have been tapped to work with Jessica Alba’s The Honest Co. as the company looks towards its next step — going public — according to industry sources.

One source said that the company has confidentially filed for an initial public offering, confirming a report first published by Bloomberg, and that it could go public in the second quarter. The business is said to have $300 million in sales. Representatives for Morgan Stanley, J.P. Morgan and Jefferies declined to comment for this story.

Honest has been down the IPO path before — the business was said to be exploring a public offering as part of a dual-track process in 2016. In 2018, the company got a $200 million investment from L Catterton, which did not immediately respond to a request for comment.

By that point, Honest was under new management. Chief executive officer Nick Vlahos joined the business in 2017 with a plan to get “aggressive” in terms of product innovation.

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Honest makes a broad range of consumer products, including a beauty line that debuted in 2015 and was relaunched in 2018. At the time, Alba, who cofounded the company in 2011, said the new beauty offer was meant to be more streamlined.

“We wanted to make sure we have those greatest hits and things she really loves and not try to throw too many things at her,” she told WWD.

A spokesperson for Honest said in a statement: “As we continue pursuing our mission to inspire everyone to love living consciously, we regularly explore all various financial strategies and options.”

For more from WWD.com, see: 

Jessica Alba’s The Honest Co. Gets $200M Investment From L Catterton

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