Spanx shapewear could change hands for $1bn

Demand for clothing has rebounded in the US as Covid restrictions ease

Spanx has reportedly caught the eye of private equity firms. Photograph: iStock

Spanx has reportedly caught the eye of private equity firms. Photograph: iStock

 

Shapewear maker Spanx has tapped Goldman Sachs to explore options including a sale, New York Times’ DealBook newsletter reported on Friday, citing multiple sources familiar with the matter.

The report said Spanx has attracted interest from private equity firms, including Carlyle, and that any deal could value it at $1 billion or more. It also said Spanx’s founder Sara Blakely could retain some ownership in the company.

Spanx did not immediately respond to a request for comment.

Rival Skims, by reality star and businesswoman Kim Kardashian West, said earlier this year it had raised $154 million in its latest funding round to reach a $1.6 billion valuation.

Demand for clothing has rebounded in recent weeks as the United States returns to relative normalcy on the back of speedy Covid-19 vaccinations and easing of restrictions.

Spanx made between $50 million and $80 million in operating earnings on revenue of $300 million to $400 million over the past year, the New York Times report said. – Reuters