Spanx Lands Investment Deal With Focus on Women in Leadership

Abstract

Spanx, the woman-led company that pioneered the shapewear industry, reached a billion-dollar valuation after being acquired by an all-woman team at private equity firm Blackstone. The acquisition, which was soon followed by more investment from the likes of Oprah Winfrey and Reese Witherspoon, sets the company on a path to expand its global footprint while solidifying its dominance in the competitive shapewear market and retaining founder Sara Blakely as its executive chair. In a move quite rare at billion-dollar companies, Blakely celebrated the acquisition by gifting each employee with a free, first-class round-trip and USD 10,000 in cash. This case asks students to discuss the acquisition, what it means for Spanx, and Blakely’s decision to reward her employees.

This case was prepared for inclusion in SAGE Business Cases primarily as a basis for classroom discussion or self-study, and is not meant to illustrate either effective or ineffective management styles. Nothing herein shall be deemed to be an endorsement of any kind. This case is for scholarly, educational, or personal use only within your university, and cannot be forwarded outside the university or used for other commercial purposes.

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