Gwyneth Paltrow gave an update to its GOOP company in a covered story about Vanity Fair.
Paltrow founded the GOOP living brand in 2008 and it raised more than $ 140 million from investors including Greycroft and G9 Ventures, according to Pitchbook. The brand is often regarded as one of the first examples of a successful living company founded by an actor.
However, the company had some shock in recent years. Last June, the publication of the Puck industry Insider said Goop’s sales had been flat since 2021 and that its beauty line was also not going well. Then, just a few months later in September, GOOP ceased 18% of its workforce with 216 people, followed by another round of work in November. In 2021, the Business Insider also reported that there was high circulation. No wonder you think the parts began to question if GOOP had lost its advantage.
In a wide interview, Paltrow again tried to distribute those rumors. Previously, a spokesman told the outputs reporting on dismissals that the company was spending a restructuring and still seeing income growth. Paltrow gave more knowledge of this, telling Vanity Fair that the company was undergoing changes as it sought to optimize its EBITDA – otherwise known as profits before interest, taxes, depreciation and depreciation, the measure used to assist in the indication of a company.
GOOP did not respond immediately to our request for comment.
Although GOOP did not find out whether he was profitable or not, a spokesman told Vanity Fair that 2024 was one of his best years and that revenues increased 10% by 2023. There are also some external signs of good progress, too. The company Ka Goop Beauty, a fashion unit called G. Label, which was launched in 2016, and Goop Kitchen, a home delivery service that began in 2021, which recently closed a round of $ 15 million from investors including Travis Kalanick. One spokesman said all these brands are also seeing growth.
The Wellness Celebrity has changed a lot since the beginning of GOOP, mainly in what celebrities make billions of dollars can be done if their brand is successful. There is now more competition than ever for GOOP, which once stole the titles for its products from yoni eggs to a $ 274 serum. In Beauty, Hailey Bieber has rhode, Rihanna has fenty beauty and fenty skin. Even Meghan Markle is looking to launch her living brand like never before, in the coming months.
Although GOOP is still still trying to find its base in the landscape now Multibillion of Wellness dollars, Paltrow does not see the competition as a lot of zero.
“I think there is always more than enough to go around. Everybody deserves an effort for everything they want to try,” she told Vanity Fair.
