When Gwyneth Paltrow launched Goop in 2008, everyone was puzzled – what exactly is it? It has evolved to more than just a newsletter into a lifestyle brand and even though the actress is at the helm of the company, it still has had its fair share of hits and misses.
At this age when thespians advertise their products and brands themselves to cut cost, Gwyneth, known for her Pepper Potts character in Iron Man, is certainly thriving – as with Kylie Jenner with her eponymous cosmetics line. To say that Goop has grown is an understatement because its valuation ballooned in just a decade.
While it isn’t clear how much of the actress’ $100-million net worth came from her brand, it is worth noting that Goop has been achieving impressive financial feats in the past. In 2018, or 10 years after it went live, the company secured $50 million in investments, making its valuation a staggering $250 million.
As a Newsletter
As mentioned, Goop started as a mere newsletter aimed to help subscribers, and what people loved about this humble set-up was that it was really Gwyneth (or as she claimed) who sent out the material from her kitchen.
From recipes to diet programs, the stunner would send these out to her subscribers, who were curious about how the actress lives. By 2009, Gwyneth had 150,000 fans waiting for her newsletters – but the Shakespeare in Love star had yet to realize how big things would become because as she explained it, she was happy about receiving $45 from an advertising partnership.
Of course, the rest is history. Gwyneth’s Goop became even more popular and although there is free content, some of the products it promotes are relatively pricey.
Her star power can also be credited for the popularity of the brand, whose name came from her initials, G and P. But like any other company, Goop has faced a lot of backlashes now and then.
Six years into the business and Goop decided to hire Martha Stewart Living Omnimedia former president Lisa Gersh as its chief executive. The official was instrumental in strengthening the brand’s e-commerce presence.
Goop started shipping its own items and expanded offerings, and now, it sells almost anything: from vitamins to clothes to household products.
In 2017, sales of the brand’s own products quadrupled, which was why the timing cannot be any more perfect to launch Goop Wellness, a vitamin collection, that an outlet said had sold about $100,000 worth on its first day.
