Gwyneth Paltrow Vanity Fair cover story.
According to PitchBook, Paltrow founded Lifestyle Brand Goop in 2008 and raised more than $140 million from investors including Greycroft and G9 Ventures. The brand is often seen as one of the first examples of a successful lifestyle company founded by actors.
However, the company has made some changes over the past few years. Last June, Puck, an in-house publication in the industry, said Goop sales It has been flat since 2021 And its beauty line is not too good either. Then, just a few months later, Goop 18% layoffs Of its 216 workers, the second is Another round of layoffs in November. As early as 2021, business insiders also reported Very high turnover. No wonder it seems that the fragments are starting to pop up and question If Goop loses its advantage.
In an extensive interview, Paltrow once again tried to dispel these rumors. Earlier, a spokesperson told media reports that the company is undergoing a restructuring and is still seeing revenue growth. Paltrow gained a deeper understanding of this and told Vanity Fair that the company is trying to optimize its EBITDA (also known as interest, taxes, depreciation and amortization) is making changes, which is used to help demonstrate the company’s profitability.
Goop did not immediately respond to our request for comment.
While Goop didn’t say whether it was profitable, a spokesperson told Vanity Fair that 2024 was one of the best times yet, and revenues rose 10% from 2023. There are also some external signs of good progress. The company owns its Goop Beauty, a fashion division called G.Label, which was founded in 2016 and Goop Kitchen, a delivery service, launched in 2021, recently awarded $15 million from investors Including Travis Kalanick. All of these brands will also see growth, a spokesperson said.
The world of celebrity health has changed a lot since Goop was first launched, mainly in Celebrities realize billions of dollars If their brand succeeds, it can be made. Now, Goop is competing more than ever, and Goop once stole headlines from its products, ranging from Yoni eggs to $274 for peptide serum. In the United States, Hailey Beiber has Rhode and Rihanna has Fenty’s beauty and Fenty’s skin. Even Meghan Markle is watching Launch her lifestyle brand In the next few months.
While Goop is clearly still trying to find his place in the current multi-billion-dollar celebrity health, Paltrow doesn’t see the game as a zero-sum game.
“I think there is always enough time to move around. Everyone should try everything they want to try,” she told Vanity Fair.
