I’m excited to welcome Spanx and founder Sara Blakely to the Blackstone portfolio. Today, we announced an agreement to make a majority investment in the iconic shapewear brand that’s beloved by women around the world (including me), and we can’t wait to partner with Sara to help it reach its full potential. This investment marks SPANX’s first time ever taking outside capital. We’ve followed Sara’s journey for years and witnessed firsthand as she bootstrapped SPANX into the company it is today – so throughout the investment process, we were hyper-focused on understanding her vision for the company and how Blackstone could help it get there. We’re incredibly grateful for the trust and partnership we’ve been able to build with Sara and her team, and we’re committed to faithfully executing on her vision for the company – from the all-women deal team, pictured here, that led to the transaction and all of our advisors who put together mostly women teams to the all-women board we hope to build. We also plan to invest further in marketing and product development to further cement the company’s leading position in its space. I’m proud to help advance Blackstone’s commitment to backing women entrepreneurs like Sara, Reese Witherspoon, and Whitney Wolfe Herd, among many others, and couldn’t be more excited about what’s to come. Huge congratulations to SPANX, Sara, and everyone at Blackstone who made this happen. Kelley Morrell Katie Harris Storer Jessica Parry Rosa Morona
Kara Goldin
2y
Loved hearing about this! Congrats to you all! Incredible company built by an incredible, passionate founder Sara Blakely 🥊
Once upon a time, IB and M&A teams were 99.9% white and male. I worked M&A for a decade and I never saw an all woman team, let alone an Asian woman at the helm. As excited as I am to celebrate this marvelous milestone for Sara Blakely and Spanx, let's also celebrate this amazing photo and the barriers Ann Chung and her team have shattered. Brava, take a bow.
So discouraged to see such blatant reverse discrimination of men. Men were the ones who pushed me up the corporate ladder. Women were able to work hard and succeed in the 80's and 90's. Now they're victims that need affirmative action. I was told I could do anything...get out there and prove yourself. Call women victims and watch them fail. Success is more meaningful when you earn it.
Congrats to Ann and the team!
Female investors believing in female founders leading brands who serve largely female identifying consumers. Thank you and congratulations!
Judy Chen
2y
So proud of you and your team!
Sara Blakely - We thank you from the bottom of our BUTTS for reshaping them, and removing our annoying panty lines. Talking Points: 1. FAMILY RESHAPE The Inside scoop of your business is none of our business. In the past, kids were happy to inherit a business from their folks. Your kids are too young to say WTF? 2 LESS BOTOX As an entrepreneur, there is so much BURNOUT. It takes a few years of extra sleep to recover—and lots of BOTOX! 3. PANDEMIC RESHAPE The pandemic hit everyone hard — no one put on a spanx garment and a dress to go to an office. My spanx has been sitting in a drawer since March 2020. The pandemic has RESHAPED our world. 4. COMPETITOR RESHAPE Kim Kardashion became a real competitor with SKIMS line and social media. She will probably rule the shape world in "advertising" time... 5. MISSION RESHAPE You may want to do something else with your time and resources. Bill Gates stepped down. Michael Bloomberg stepped down. Jeff Bezos stepped down. Billionaires rags to riches entrepreneurs have "Stepped Down" but still control their companies. There are more important things to do in the world than shape women’s butts. e.g. Bill Gates Foundation
John Peddy
2y
#investinwomen 🚀
CEO, Co-Founder and Chair of the Board at Rent the Runway
2yWhen I heard about this I immediately guessed this was you and Kelley Morrell:)