Reese Witherspoon, Oprah Winfrey invest in Spanx
- By Reuters -
- Nov 19, 2021
Celebrities Oprah Winfrey and Reese Witherspoon as well as Bumble founder Whitney Wolfe Herd have invested in Spanx, the shapewear maker said, as it completed a majority stake sale valuing the company at $1.2 billion to investment firm Blackstone Inc.
Other new investors included female-founded investment funds G9 Ventures and Able Partners, Spanx said on Thursday.
“Oprah was a big reason for Spanx’s early success when she named it one of her iconic ‘Favorite Things’ in 2000,” founder Sara Blakely, who now serves as its executive chairwoman, said in a statement.
Blackstone has plans to expand Spanx globally and help it strengthen its online business. It has previously invested in Herd’s Bumble and Witherspoon’s Hello Sunshine media firm, among other female-led businesses.