Entrepreneurial Profile: Jessica Alba: The Honest Company
Jessica Alba, a successful actress, founded The Honest Company with the vision of pursuing the three “P’s” of a triple bottom line business: profit, people, and planet. The Honest Company initially sold diapers online, but quickly expanded its product line and began selling through retail stores, such as Target and Costco. Through its commercial success, the Honest Company has realized economic growth, which is the first “P” of a triple bottom line business. In 2012, its first year in business, the company had revenues of $12 million. Over the next two years, its revenues grew to $60 million and then $100 million. The Honest Company focused on people, or social progress, by allowing its employees to volunteer more than 1000 hours to charities that support families, by donating more than 540,000 products to charities, and by establishing a program that donates a crib for every crib that it sells. Finally, The Honest Company addresses the third part of the triple bottom line, the planet, by using sustainable, non-toxic materials for its products.[i]
[i] Diane Clehane, “Why Jessica Alba Just Might Be Hollywood’s Smartest Mommy Mogul,” Forbes, August 3, 2014, www.forbes.com/sites/dianeclehane/2014/08/03/why-jessica-alba-just-might-be-hollywoods-smartest-mommy-mogul/.