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Gwyneth Paltrow vs. Martha Stewart is the ultimate WASP feud

Kristyn Burtt is an LA-based entertainment reporter who has covered everything from 'Dancing With the Stars' to the Oscars. If she’s not on the red carpet, she’s at home in yoga pants watching Netflix and eating potato chips.

Don't expect Gwyneth Paltrow to craft with Martha Stewart anytime soon, the feud is on

Gwyneth Paltrow has a lesson to teach Martha Stewart this week: how to take an insult. The two lifestyle mavens seem to be sweating it out over who is the ultimate queen of home decor.

At Fortune's Most Powerful Women Summit on Tuesday, Paltrow was asked about Stewart's recent comments about the Iron Man 3 actress.

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Stewart had said about Paltrow and Goop, "She just needs to be quiet. She's a movie star. If she were confident in her acting, she wouldn't be trying to be Martha Stewart."

Well, Paltrow has a pretty confident answer for the lifestyle guru.

She joked to interviewer Kristin van Ogtrop, "No one has ever said anything bad about me before, so I'm shocked and devastated. I'll try to recover. If I'm really honest, I'm so psyched that she sees us as competition. I really am."

It's clear that Goop isn't trying to copy Stewart's blueprint. While Stewart appeals to the more crafty do-it-yourselfers, Paltrow's site is high-end, expensive and not-so-homemade.

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She continued, "I think that when anyone criticizes anyone, it's revealing more about where they are in time and space versus where you are in time and space. It's usually a reflection of something else. At this point in my life, I don't take it personally. I see it as a projection."

Meow! That comment cut right through Stewart's comments on Paltrow, so it's clear that a cookie bake-off is not going to happen anytime soon. The two queens of the lifestyle category are going to have to carve out their niches individually.

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