Early Life
Sara Blakely was born in Clearwater, Florida, on February 27, 1971. Her father was a trial attorney, and her mother was an artist. Growing up, Blakely showed an entrepreneurial spirit, even attempting to start a neighborhood newspaper.
Rise to Success
After graduating from Florida State University with a communications degree, Blakely initially considered law school but decided against it. She then worked selling fax machines door-to-door, honing her sales skills. In 1998, while preparing for a party, she realized she needed undergarments that wouldn't show under her white pants. She cut the feet off a pair of pantyhose, which led to the creation of her first Spanx prototype. Blakely launched Spanx in 2000, investing $5,000 of her savings into the business. The brand quickly gained traction, especially after Oprah Winfrey named Spanx as one of her “Favorite Things” in 2000.
Key Business Strategies
Blakely's success is attributed to her innovative approach, focusing on comfort and confidence. She maintained full ownership of Spanx for many years, growing it into a global enterprise without outside investment. She expanded Spanx's product line beyond shapewear to include bras, leggings, denim, activewear, and bodysuits. In 2021, she sold a majority stake in Spanx to Blackstone, valuing the company at $1.2 billion.
Philanthropy
Blakely is a dedicated philanthropist. In 2006, she launched the Sara Blakely Foundation, which empowers women through education, entrepreneurship, and the arts. She signed The Giving Pledge in 2013, committing to donate at least half of her wealth to charity. During the COVID-19 pandemic, her foundation launched the Red Backpack Fund, providing grants to female entrepreneurs. In 2019, Blakely paid $162,500 at an auction for the black pants worn by Olivia Newton-John in Grease; the proceeds from which benefited Newton-John's cancer treatment center in Melbourne, Australia. In 2020, Blakely pledged to give $5 million to support female-run small businesses during the coronavirus pandemic.
