Spanx Sell Transaction Overview
The Spanx sell completed when parent company Sara Blakely sold a majority stake to Blackstone in a deal valued at approximately $1.2 billion, with the company retaining its brand identity and headquarters in Atlanta. The transaction closed in 2024 and positioned Spanx as a portfolio company within Blackstone’s consumer and retail vertical, a move reported by Forbes and other major business outlets.
Blakely retained a meaningful ownership stake and remains involved as Executive Chairman, while Blackstone’s private equity team now leads strategic growth efforts. The Spanx sell was structured as a growth equity investment rather than a full acquisition, allowing the company to pursue new product lines and global expansion without the pressure of a public listing.
Spanx Ownership and Leadership Changes
Post-sale, Spanx operates under a new ownership structure where Blackstone holds majority control, and Sara Blakely and her family office retain a significant minority position. The leadership team, including CEO Jill Soltau, who joined from J.C. Penney, continues to manage day-to-day operations with a mandate to modernize the brand.
Executive Leadership
Jill Soltau, appointed as CEO in 2022, brought retail transformation experience from J.C. Penney and ShopRunner, and her role was confirmed by the company after the Spanx sell. The board includes representatives from Blackstone and independent directors, with Blakely serving as Executive Chairman to preserve brand continuity.
Spanx Market Position and Financial Impact
Spanx remains a dominant player in the shapewear and foundation garment category, with an estimated annual revenue exceeding $1 billion before the Spanx sell, according to industry estimates and company filings. The brand operates through a mix of direct-to-consumer e-commerce, department stores, and specialty retailers, with North America representing the largest revenue segment.
The Spanx sell enabled the company to invest in digital infrastructure, supply chain optimization, and international market penetration, particularly in Europe and Asia. Blackstone’s resources are expected to accelerate product innovation and category expansion beyond traditional shapewear into broader apparel and wellness segments, as outlined in the company’s post-transaction strategy updates.
For additional context on the Spanx sell and Blackstone’s investment thesis, see the detailed coverage on Forbes and the company’s official investor updates.