The Honest Company Surges Higher on Expansion to Walmart
2022.07.19 19:41
The Honest Company (HNST) Surges Higher on Expansion to Walmart (WMT)
By Michael Elkins
Shares of sustainable, family consumer goods maker, The Honest Company (NASDAQ:HNST) jumped 11% on Tuesday after the company announced that it has expanded its distribution to include retail mega-chain, Walmart (NYSE:WMT). The brand is now available on Walmart.com and will launch in thousands of Walmart stores in the fall.
The Honest Company, founded by actress Jessica Alba in 2012, will utilize its new Walmart distribution to expand its accessibility to existing and new consumers. Expanding its reach as a clean and sustainability-focused brand to the millions of customers who shop at Walmart each week.
“Honest and Walmart are both committed to helping customers live better. This key addition to our strategic list of retailers not only enables us to increase distribution of our baby and personal care products, but also strengthens our ability to grow our community of conscious consumers,” said Nick Vlahos, Chief Executive Officer of The Honest Company. “Our expansion to Walmart is the perfect example of our omni-channel retail strategy at work, enabling us to bring access to our products in stores and on the digital shelf to even more consumers every day.”
