Founding Sara Blakely created Spanx in 2000 as a solution to the discomfort she experienced wearing
pantyhose in hot weather, and disliking the seamed foot that stuck out of an open-toe shoe. 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 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 $5,000 in savings, and spent two years creating her product. She changed the spelling to “Spanx” at the last minute after reading that made-up names sold better. After several hosiery factories turned down her product, Blakely brought her idea to
Neiman Marcus, where she convinced the buying rep by modeling her white pants with and without Spanx. She then brought the product to
Bloomingdale’s,
Saks Fifth Avenue and
Bergdorf Goodman. In 2001, Blakely arranged with QVC to feature her product. and Forbes rated Blakely as the youngest self-made female billionaire.
Gwyneth Paltrow also wears the brand. In 2021, the asset manager firm Blackstone bought a
majority stake in Spanx, valuing the company at $1.2 billion. An all-female investment team from Blackstone prepared the deal, and it was announced that the
Board of Directors would be all-female, with Blakely serving as
executive chairman.
Launch In 2000, Blakely launched the Spanx brand from her apartment, undertaking all initial calls and marketing herself. Her boyfriend at the time, a healthcare consultant, later resigned from his job and joined Blakely in the running of the nascent business. Blakely's product was sold in seven Neiman Marcus stores as a result of the meeting;
2000 Onwards Following the establishment of the company, Blakely's then-boyfriend eventually became Spanx's
chief operating officer (COO) and met
Laurie Ann Goldman at the
Saks Fifth Avenue in Atlanta in 2001, while she was on maternity leave from her employer at the time, Coca-Cola. Goldman was specifically looking for a Spanx product, and the pair exchanged contact details—Goldman became the
CEO of Spanx in 2002. Writing for
Fortune magazine in February 2014, Colleen Leahey identified Goldman as a key aspect of the company's successful growth: Goldman crafted a business model for the company based on lessons she learned during her 10-year stint at Coke: thinking big, starting small, and scaling fast. She advised her team at SPANX to focus on product quality over profit margins. “Every time somebody puts on a SPANX product, one of two things can happen: Our brand can get stronger, or our brand can get weaker. We gain leverage or we lose leverage.” Goldman resigned from the company in February 2014, after over 10 years at the head of the Spanx. In Blakely's June 2014
Forbes profile, the publication claims that the company generates "over $250 million in annual revenues and net profit margins estimated at 20%", while Blakely is very strongly committed to maintaining the private status of Spanx. It was announced on October 20, 2021, that Blakely had sold a majority stake in the business to
Blackstone. The company was valued at $1.2 billion. The deal was prepared by an all-female investment team from Blackstone, and it was announced that the
Board of Directors would be all-female, including Blakely as the Executive Chairwoman. In 2025, Spanx and Blakely were included in
Pirouette: Turning Points in Design, an exhibition at the
Museum of Modern Art (MoMA) featuring "widely recognized design icons [...] highlighting pivotal moments in design history." The company's "OnCore" high-waisted mid-thigh short has been in the MoMA design collection since 2017. == Products ==