Unilever said to be in talks to buy Jessica Alba's Honest

Unilever is said to be in talks to acquire Honest Co., the consumer-products retailer co-founded by actress Jessica Alba.

According to the Wall Street Journal, the FTSE 100 consumer goods group is discussing a deal worth more than $1bn but significantly less than the $1.7bn valuation that was placed on Honest in a fundraising round last year.

WSJ cited people familiar with the matter as saying that talks are at an early stage and Honest hasn't ruled out an initial public offering.

Founded in 2011, Honest focuses on green and organic products, selling disposable nappies, household cleaners, personal-care and beauty products. Many consumers buy directly from its website but some items are also sold at retailers such as Target and Whole Foods.

If the acquisition goes ahead, it will be Unilever’s second recent purchase of a California e-commerce consumer products company. Back in August, it forked out $1bn for Dollar Shave Club, a premium to the $615m valuation the company had fetched a year earlier.

Tech news site Recode first reported last week that Honest was looking to be acquired.