Monday, October 3, 2022

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Gwyneth Paltrow Reflects On ‘Hard Year’ To Run A Business As Goop Expansion Not Doing So Hot

As the world tries to navigate the ongoing pandemic, many areas have experienced a difficult time recovering from the economic downturn. Small businesses and online brands have suffered the most from the slow economic recovery. Even some celebrity brands have felt the pinch. Gwyneth Paltrow’s Goop felt the downturn like many businesses in 2020 and 2021 despite the brand’s notoriety and cultural relevance. After a “hard” year, Paltrow reflected on the difficulties of running a business after expansion plans fall short.

The Iron Man star has been growing the Goop brand for a decade. The lifestyle brand, best known for its niche items, has expanded into areas like reality television, conventions, and a magazine. Unfortunately, the expansion didn’t work out the way Paltrow wanted. According to People, the Oscar winner was honest about the growth setback her company experienced in 2021.  

It was a hard year to run a business, but it was also a clarifying year, and a lot of lessons came from it. What’s crystallized for me is how tumultuousness is just a part of life. We have this tendency to be like, ‘Why are things so hard?’ But there are also amazing and happy and wonderful things happening. There is so much space for growth. To be human is to live in this messy gray area — and it’s beautiful.

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