AP
Jessica Alba.
According to Bloomberg's Lizette Chapman and Alex Barinka, Honest Company is working with Goldman Sachs and Morgan Stanley on the deal.
Initial public offering, or IPO, activity has been slow so far this year.
There were no IPOs in the US in January. Two biotech companies eventually kicked things off this week, both going public on Wednesday.
Alba cofounded the environmentally-friendly online retail company in 2011.
It sells natural and eco-friendly household products like premium diapers and toothpaste.
Last year, The Honest Company was valued at $1.7 billion. As Business Insider's Nathan McAlone wrote, "Alba's celebrity status has been a pillar of the brand."
We've reached out to Goldman Sachs and Morgan Stanley for comment and will update if we hear back.
More to come...