Goop just made a number of executive hires and promotions, amid projections the lifestyle brand founded by Gwyneth Paltrow is on track to about triple revenue this year.
The company declined through a spokesperson to specify its actual revenue figures. However, the spokesperson said about half of this year’s retail sales was generated by Goop-branded product, making the hiring of Shaun Kearney as senior vice president of fashion, a strategic move as the company seeks to grow the Goop product lineup.
Kearney takes on the position, which is a new role at the company, after working at TechStyle Fashion Group’s fast-growing Fabletics division. He is charged with building out Goop’s branded apparel in addition to the multibrand fashion business.
Goop apparel, called Goop Label, launched as a test in September 2016 with monthly drops of capsule collections that sold out from month to month, said Blair Lawson, who was recently promoted to chief merchandising officer.
The line continues to do well thus proving to the company there is an appetite for the product, she went on to say.
Still, even as the company looks to expand the Goop-branded fashion offering, it’s not looking to have it eclipse the multi-brand business, but potentially grow to account for half of sales within the fashion vertical.
“It’s really interesting when you look at the way our business works best. It’s the perfect combination — and this is true for any vertical — everything starts with the content and then the content is wrapped around an ecosystem of products,” Lawson said. “If you’re only writing about your own products, it’s not really as interesting or relevant to the customer.”
Paltrow, who started the business in 2008, as a newsletter sharing personal tips, today counts an online content and commerce division, products in the way of vitamins and skin care among other things, a magazine with Condé Nast and physical retail. The company has also entered the conference circuit with plans to host its second wellness conference Goop Health next month in New York.
Lawson’s elevation perhaps in some ways mirrors the broader company’s maturity in more recent years. The executive joined the company in April of 2015 at a time when there was no merchandising team and the office was still Paltrow’s pool house. Her promotion to chief merchandising officer now centralizes the buying and product development teams across categories for a consistent strategy online and off.
“I think what we’ve realized with our customers is a couple of things,” Lawson said, reflecting on the dynamic between the brand and consumer she’s seen since joining the firm. “We have a reader who is really interested in purchasing and I think that partly comes from the authenticity of our editorial voice, which we built for so many years. Gwyneth really built that voice for five years with no commerce element before we layered on any e-commerce. When we tell the story about the product…our reader wants to buy that product from us so it really goes back to this [idea] of contextual commerce.”
Kearney’s hiring and Lawson’s promotion were just two of several updates made to the executive team. Goop also promoted former head of content Elise Loehnen to chief content officer. There was also the additions of Harper’s Bazaar alums Wendy Lauria, who is vice president of marketing, and Erin Pollard, who serves as director of partnerships, international fashion and luxury.
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