Lifestyle company, Goop, which was founded by actress Gwyneth Paltrow in 2008, has officially opened its first permanent New York store.
The store, which is called Goop Lab, is the company’s second permanent store. The first was opened in California in September 2017 following Goop’s successful pop-up store strategy, which began in 2014.
According to Goop’s chief revenue officer, Kim Kreuzberger, New York has been a long-time priority for the company.
“Our strategy has always been about opening a small number of stores where we have the deepest penetration,” she said, adding that the New York metro region represents 12 per cent of Goop’s online sales, which is more than sales in both Los Angeles and San Francisco.
The New York store is a chance for Goop to shift its merchandising and event strategy to be more localised. The store has a bigger line of jewellery, with beauty and wellness also being another large component. Additionally, fashion plays a huge role, representing 56 per cent of the assortment. Label collection is front and centre, and brands such as Victoria Beckham, Acne, Rochas and Brock Collection are being featured.
Goop is set to go deeper in all areas of physical retail – it is doubling the number of pop-ups in 2019 to 12, and Kreuzberger said the company will open a permanent London location in about 18 months.
“No matter what we may all be reading about the current retail climate, it continues to do well for Goop and will be a big area of growth for us going forward.”
