ATLANTA — Employees of Atlanta-based Spanx got good news from the company's founder after a billion-dollar sale.
Sara Blakely recently announced that a global investment firm was taking a majority stake in the company, valuating the investment at $1.2 billion. In an Instagram post, Blakely shared the moment she told a gathering of her employees that she was celebrating the transaction by giving them a big gift.
"And then the tears really started to flow when I surprised everybody with 2 first class @delta plane tickets to anywhere in the world and $10,000 cash to spend on the trip. I really want every employee to celebrate this moment in their own way and create a memory that will last them a lifetime! Cheers to 21 years of magic and many more to come," the social media post read.
Blakely will maintain "a significant stake" in the company and continue to oversee operations as executive chairwoman.
Known for its form-fitting shapewear, Spanx is making a move to include more types of comfortable clothing. The plan also includes expanding its direct-to-consumer arm, lessening its reliance on discount retailers and other wholesale partners, such as department stores, according to CNBC.
What other people are reading:
- Carmel woman with breast cancer says mammogram saved her life
- Baldwin was careful with guns before fatal shooting, crew member said
- IU Health develops app to help fill staff shortages
- Deadly semi crash closes I-70 near Plainfield
- James Michael Tyler, known for playing Gunther on 'Friends,' dies at 59
- Twitter suspends Indiana Rep. Jim Banks’ official account
- Indiana Avenue repaving to cover BLM mural
- Southern Indiana Rally's employees walk out during night shift, claim unsanitary conditions