Gwyneth Paltrow's lifestyle brand Goop has undergone two rounds of layoffs in recent months. The company has said it's pivoting to focus on beauty, fashion, and food. The changes highlight Goop's challenges to build a sustainable business beyond its famous founder.
Gwyneth Paltrow took a measured tone earlier this year when she discussed Goop , her newsletter turned e-commerce company, onstage at a Forbes event. She didn't brag about the nine figures the brand had raised or its latest product release. Instead, she said she was proud Goop was still in business.
Advertisement "Some years we're down, then we're back up," she said. "I'm proud that we're still alive and kicking." That might seem surprising for a company that was valued at $433 million in 2020 and was a trailblazer for what a celebrity brand could be.
But it's reflective of a company that — despite its name recognition and pop-culture footprint — has undergone several painful pivots in recent years. Advertisement In September, Goop laid off nearly 20% of its staff, including its chief technology officer and VP of content. A few weeks later, it laid off about 6% of the remaining employees.
Goop's recent cuts come as the company shifts focus to its beauty, fashion, and food businesses. It's the latest in a series of strategy changes over the last several years. Changes in focus are normal for a startup.
Still, after 16 years of existence, the company isn't profitable and continues to struggle to build a firm foun.
