Spanx founder Sara Blakely turned $5,000 in savings into a $1.2 billion shapewear brand by relying on bold marketing and what she called "unhinged" tactics.
"Ideas are the most vulnerable the moment you have them," Blakely said on the "School of Hard Knocks" podcast. She told host James Dumoulin that early criticism such as "Why hasn't anyone already done it?" or "The big guys will knock you off in six months" might have discouraged her.
Blakely, who once sold fax machines, told "School of Hard Knocks," a media company that she kept her business idea hidden for a year to block out doubt.
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The decision to wait gave her space to refine her product and build confidence. "Had I heard those things the moment that I had the idea, I would probably still be selling fax machines," she added.
Growth Without Investors
Over two decades, Spanx expanded into department stores worldwide without outside investment. Blackstone Inc. (NYSE:BX) acquired a majority stake in Spanx at a $1.2 billion valuation in 2021, with Blakely maintaining a significant equity stake in the business.
"I always say, ask for forgiveness, not permission," Blakely said, explaining how she often took matters into her own hands. She recalled physically moving Spanx displays closer to checkout counters at Neiman Marcus to increase sales.
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Blakely's methods extended beyond store aisles. She once bought a "SPANX" license plate to advertise her brand, and even paid friends to buy Spanx in stores so sales looked strong enough for retailers to keep stocking the product. She also appeared on the reality TV show "The Rebel Billionaire: Branson's Quest for the Best," hosted by Virgin Group founder Richard Branson, to raise her profile.
"You gotta do what you gotta do," she wrote on Instagram.
New Spanx Moves From Stylists To Sneex
Spanx recently launched "Shaped by Stylists," an ambassador program led by celebrity stylist Karla Welch that highlights how professionals use the brand's products to guide consumers. The company also upgraded its best-selling Booty Boost 7/8 Leggings with new SecretSweat™ technology designed to manage perspiration during workouts.
Meanwhile, Blakely is branching out beyond shapewear. Her new brand, Sneex — a hybrid sneaker-heel line — ran an out-of-home campaign in New York during Fashion Week last month, a push meant to raise awareness and signal that the line is part of her broader expansion into luxury footwear and fashion.
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