Goop Opens Aspen Store as Luxury Retail Booms in Wealthy Ski Town

Goop, the brand started by Gwyneth Paltrow as a weekly newsletter, opened the doors to a store in the affluent ski town of Aspen. 

The Santa Monica-based brand isn’t the only one that got the memo about the growing retail hotspot. The town has long served as an upscale getaway, but its wealthy residents and travelers have made it the ideal location for retailers. 

The Elder Statesman, Bottega Veneta, Revolve, Anna Zuckerman and Kiton on Hyman Avenue, along with Clorinda Antinori and Toteme on Hopkins Avenue are among the stores to open Aspen locations in the past couple of years. 

Goop Vice President of Retail Matthew Blythe told Glossy, places such as Aspen make sense for brands as these communities evolve into more than just visitor draws. 

“Post-Covid, locations like Aspen and the Hamptons really [grew], where they used to be extremely seasonal,” Blythe said. “A lot of people love living here, so they moved from their busy city locations to work remotely.” 

The median household income in Aspen is $92,434 with the median age just under 42, according to the U.S. Census Bureau. 

Goop followed a similar blueprint to Revolve Group, which owns the Revolve and FWRD businesses. The contemporary fashion firm opened an Aspen pop-up and last year made the location a permanent door. It’ll be followed up with a Los Angeles store at The Grove this fall. 

Goop’s Retail Plans

Goop, which first operated an Aspen pop-up in 2018, will mainly tout company-owned brands Goop Beauty and the apparel line G. Label at its newest store.

Both offer plenty of margin by selling through Goop-owned doors as the company’s reportedly sought to trim costs through two rounds of 2021 layoffs as it looks to boost earnings. 

Goop Beauty sales jumped 34 percent last year. The company’s G. Label rose 42 percent, Paltrow told Fortune earlier this year. 

The company thinks it can grow to 20 to 30 stores at a cadence of around two or three doors each year, according to Glossy. 

That’s fueled by plenty of outside capital including the most recent 2019 venture round and the year before that, a $50 million Series C, according to Crunchbase. Felix Capital, Lightspeed Venture Partners and New Enterprise Associates are among the company’s investors. 

The next planned Goop opening is Lido Marina Village in Newport Beach, in addition to Palm Beach and Greenwich.