Last Updated on 08/13/2021 by GS Staff
Can You Buy Spanx Stock?
Spanx is a private company. Since the business is not publicly traded, you cannot purchase its stock. Spanx stock does not trade on a stock exchange, have a ticker symbol, or have a public stock price.
Who Owns Spanx?
Spanx was founded by Sara Blakely who owns the company. She started the business with $5,000 in capital that she made at least partially from selling fax machines door-to-door. This was back in 1998 when home use of fax machines was a bit more common. Blakely developed the initial idea for Spanx while working at this job and having to wear pantyhose which she believed could have been designed better.
One day before attending a party, she cut the feet off her pantyhose to wear under her newly purchased slacks. While the pantyhose rolled up through the night, pairing the footless pantyhose with slacks was the foundation of what would become Spanx.
Amazingly, Blakely’s $5,000 investment into the company would create a business that produced $4 million in sales in its first year. One of the pivotal moments for the company was in 2000 when Oprah included Spanx in her holiday “Favorite Things” TV show.
This show helped catapult sales to over $10 million. Today, the company pulls in revenue somewhere between $300 to $400 million based on estimates. However, Spanx keeps its financials confidential so true revenue figures aren’t available.
Will Spanx Ever Be Public?
It has recently been announced that Spanx is reportedly up for sale. The company is said to be valued at $1 billion, however, its true value may be disclosed if a deal is made.
If Spanx is sold, there is a strong likelihood that the company will remain private. Two private equity firms, TPG and Carlyle, are purportedly interested in acquiring the apparel company. Of course, others could emerge as bidding for Spanx heats up.
Keep in mind that it is not uncommon for a private equity firm to acquire a business and later bring it public after a few years of ownership. We would speculate that if Spanx were to go public it likely won’t be for a few years after current management sells it.
Even if Spanx decides not to sell itself, there is the potential for it to go public in the future. The founder has publicly stated that if the time is right she could see an initial public offering (IPO) in the future for Spanx. Of course, there is no guarantee that Spanx will ever go public. All is just conjecture until Spanx officially announces it has been acquired or otherwise.
At any rate, you will likely see material changes happening at Spanx soon. Stay tuned!
Image Credit – Mike Mozart/flickr
Wang, J. (2021, June 29). Spanx is reportedly Shopping itself for $1 billion, But Forbes estimates the SHAPEWEAR firm is worth far less. Forbes. https://www.forbes.com/sites/jenniferwang/2021/06/29/spanx-is-reportedly-shopping-itself-for-1-billion-but-forbes-estimates-the-shapewear-firm-is-worth-far-less/?sh=7914895433a4.