CEO OF SPANX SELLS MAJORITY STAKE- SHOCKS EMPLOYEES WITH A HUGE SURPRISE
Written by Brittany Styles on October 27, 2021
Spanx is good stuff, right? It’s beyond good. $1.2 billion good.
Spanx CEO, Sara Blakely recently celebrated a milestone and explained the importance of female entrepreneurs. She was giving the speech to her employees after an asset management firm, Blackstone, bought a majority stake in the shapewear company and valued the brand at $1.2 billion. The employees didn’t know what was coming next.
Blakely shared the incredible moment in an Instagram video. She announced to all of her employees that they would each receive $10,000 and two first-class tickets to travel anywhere in the world. Wow! This was a huge milestone for the company, for her, and for the people who helped make it happen. Cause for a celebration, for sure!
In the video Sara said, “On the white board in my room, I wrote a goal down. I said, ‘This company will one day be worth $20 million.’ Everybody laughed at me…And so, to stand here today and think about what we’ve been able to create and what we’ve been able to do by being authentic and kind and [delivering] amazing products to women,” Blakely said. “To use very feminine principles in a very masculine space, which is business, leading with intuition and vulnerability…I think it’s a really big moment in time for women.”
A very inspiring story. Makes you want to get out and invent something, doesn’t it? Sky is the limit!
Cover phot by AP Photo/Evan Agostini, File
