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Spanx, LLC is an American shapewear company, founded by Sara Blakely in Atlanta, Georgia in 2000. The company offers innerwear and outerwear, including activewear,[1] apparel, denim,[2] shapewear, swimwear, intimates, leggings, and hosiery. As of 2021, the company was valued at $1.2 billion[3] and its products are sold in over 50 countries.[4]
History
Sara Blakely created Spanx in 2000 as a solution to both the discomfort she experienced wearing pantyhose in hot weather and disliking the seamed foot that stuck out of an open-toe shoe.[5] After graduating from Florida State University (FSU) in 1993, Blakely first worked at Walt Disney World Resort, followed by Danka, an office supply company, where she sold fax machines door to door. She cut the feet off her control-top pantyhose in order to achieve a “smooth look” under white pants, but did not like that the pantyhose rolled up her leg. Blakely moved to Atlanta, where she continued working for Danka from 9-5, set aside her $5000 in savings and spent two years creating her product.[5] Blakely explained that she chose the name “Spanks” because of the “k” sound in the internationally-recognized “Coca-Cola” and “Kodak.”[6] She changed the spelling to “Spanx” at the last minute after reading that made-up names sold better.[7] After her product was turned down by several hosiery factories, Blakely brought her idea to Neiman Marcus, where she convinced the buying rep by modeling her white pants with and without Spanx.[8] She then brought the product to Bloomingdale’s, Saks and Bergdorf Goodman.[7]
Once Spanx was created, Blakely sent several of her products to The Oprah Winfrey Show, and in November 2000, the brand was featured in Oprah's Favorite Things.[9] In 2001, Blakely made an arrangement with QVC to feature her product.[7] In 2011, Spanx reported revenue of just under $250 million,[10] and Forbes rated Blakely as the youngest self-made female billionaire.[10] Spanx opened its first brick and mortar store in 2012.[10] In 2013, Jessica Alba, Adele and Jennifer Garner wore Spanx to the Oscars.[11] Gwyneth Paltrow also wears the brand.[12]
In 2021, Blackstone bought a majority stake in Spanx, valuing the company at $1.2 billion.[13] The deal was prepared by an all-female investment team from Blackstone,[14] and it was announced that the Board of Directors would be all-female, with Blakely serving as executive chairman.[13] At the same time, Oprah Winfrey, Reese Witherspoon, and Whitney Wolfe Herd also invested in Spanx.[15]
Corporate affairs
In 2002, Laurie Ann Goldman, formerly at Coca Cola, was appointed CEO of Spanx.[16] She stepped down in 2014, and was replaced by Jan Singer, Nike’s head of apparel.[17] In 2024, Caroline (Cricket) Whitton was appointed as CEO and Jeanne Jackson as executive chair of the board.[18]
To celebrate the company’s $1.2 billion deal with Blackstone, employees received two first-class plane tickets and $10,000 each.[19]
Products and product lines
Spanx has a range of sizes, from XS-3X.[20] The company has expanded from shapewear, intimates and hosiery to apparel, activewear,[1] loungewear,[21] and denim.[22] Their core collections include SPANXshape Booty Boost,[23][24] SPANX Air Essentials,[25] SPANXsculpt Seamless Power, SPANXsculpt OnCore,[26] and SPANXshape EveryWear SPANXsmooth Perfectfit.[23][27]
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