Blackstone Buying Majority Stake in Spanx

The Wall Street Journal2021-10-20

The deal values the shapewear maker at $1.2 billion. Blackstone Group LP is buying a majority stake in Spanx Inc., becoming the first outsider to put money into a company that revolutionized women’s ...

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FlareSpark
2021-10-20
FlareSpark
Lady the big spender
Boazzz
2021-10-20
Boazzz
Inspiring
relaxlah
2021-10-20
relaxlah
like
- JASRICH:
  K
- relaxlah:
  like
DuckgeniusMY
2021-10-20
DuckgeniusMY
Cool
IcyAlchemist
2021-10-20
IcyAlchemist
Like and comments
- DuckgeniusMY:
  Sure
- Wins888:
  done
- troedas:
  liked
63031164
2021-10-20
63031164
Nice
- Bluem:
  mm

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Spanx founder Sara Blakely will maintain a significant stake in the company and will continue to oversee operations. She will become the company’s executive chairwoman when the deal closes.\nMs. Blakely, who founded the company in 2000 with $5,000 she earned from selling fax machines in her hometown of Clearwater, Fla., was inspired to create shapewear made from comfortable hosiery material when she couldn’t find anything that would conceal her undergarments under a pair of cream-colored pants.\nShe cut the legs off a pair of control-top pantyhose, and the idea for Spanx was born. The product was an immediate hit with women,becoming a well-known branddespite not advertising for the first 16 years of its existence.\nThe company now makes other forms of apparel and activewear, in addition to its signature line of shapewear. 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