Honest has cut sku's, repackaged, added products and cut prices for its beauty line.
That minority investment gives the brand the capital to accelerate its global growth plans, which include expanding Honest Beauty into Europe for the first time with a Douglas launch in spring 2019. That line is also being completely revamped, with new packaging, products and prices. The capital will also fund continued innovation — a core strategic priority for the company — according to Nick Vlahos, who took over as chief executive officer in March 2017.
Since Vlahos joined the company, Honest has added a beauty-specific in-house lab — finished in March — with the aim of “getting aggressive” when it comes to innovation, Vlahos said. “When it comes to innovation, product formulation [and] development, we’re looking at formulating in our own facilities and doing small-batching to create the performance [and] the safety we’re looking for.” To that end, over the past year Honest has hired an R&D team to build out its innovation capabilities, though the company will continue to work with external partners, Vlahos said.
The company’s innovation capabilities are focused around its two key categories — beauty and baby — Vlahos said, and are key to the relaunch of Honest Beauty, which debuts in July.
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