Iconic shapewear brand Spanx is reportedly looking for a buyer in a deal that could value it at $1 billion

Iconic shapewear brand Spanx is reportedly looking for a buyer in a deal that could value it at $1 billion
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Spanx founder Sara Blakely
Spanx founder Sara Blakely attends the Massachusetts Conference for Women at Boston Convention & Exhibition Center on December 8, 2016 in Boston, Massachusetts. Marla Aufmuth/Getty Images for Massachusetts Conference for Women
  • Shapewear brand Spanx is exploring a sale, The New York Times reported, citing multiple sources.

  • A potential deal could reportedly value the brand at $1 billion.

  • Spanx was set up in 2000 by its current CEO Sara Blakely.

  • See more stories on Insider's business page.

Iconic shapewear-brand Spanx is reportedly looking for a buyer.

The New York Times' Dealbook reported early Friday that the company was in talks with Goldman Sachs to explore a sale, citing multiple sources familiar with the situation. A deal could value the company at $1 billion, it reported.

Spanx is a private company, so it is not required to report its financials. It pulled in between $300 million and $400 million in revenue over the past year, the sources told The Times.

The deal could see Spanx founder and CEO Sara Blakely keep some of her ownership stake, The Times reported. Blakely was once named one of Time's 100 most influential people in the world.

Read more: Self-made billionaire Sara Blakely revealed the 4 leadership tactics she's using to guide Spanx and keep revenues going while quarantined in an RV 'somewhere in Florida'

Blakely set up Spanx in 2000, and it became the best-known shapewear brand on the market.

Blakely became a self-made billionaire - but she lost billionaire status in 2020.

Read the original article on Business Insider

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