American entrepreneur and philanthropist Sara Treleaven Blakely is the creator of Spanx, a brand of pants and leggings for women that was established in Atlanta, Georgia. In a deal estimated at $1.2 billion, Sara consented to sell a majority stake in Spanx to private equity firm Blackstone in October 2021. Blakely was 93 on Forbes’ list of the most- powerful women across the world in 2014.
Sara Blakely’s Biography And Net Worth
|Net Worth $1 Billion|
|Full Name Sara Treleaven Blakely|
|Birth Date February 27, 1971|
|Age 51 years|
|Birthplace Clearwater, Florida, US|
|Profession Businesswoman, Philanthropist|
|Spouse Jesse Itzler|
Sara Blakely Early Life
On February 27, 1971, Sara Treleaven Blakely was born in Clearwater, Florida, a suburb of Tampa, and her parents Ellen and John, are artists and attorneys, respectively. She earned her high school diploma in 1989 from Clearwater and in 1993, she earned a communications bachelor’s degree from Florida State University. She spent three months working at Walt Disney World and performing stand-up comedy.
Sara Blakely Early Career
Blakely was hired by an office supply firm to sell fax machines after spending three months at Disney World. She was promoted to national sales trainer when she was 25 because she was rather skilled in her profession. Sara was forced to dress professionally for this job in the 1990s, which also included wearing fitted pantyhose. This was quite uncomfortable given the Florida summer’s heat and humidity. The proverb “necessity is the mother of invention” certainly applied to Sara Blakely and she was motivated to develop Spanx by this.
Sara Blakely Success
At 27, she used her $5,000 in savings to do research and develop her concept over two years. She made an appointment by calling a nearby Neiman Marcus buyer. She donned a pair of Spanx at the meeting to highlight the advantages of the product. For their initial order, Neiman Marcus purchased 7,000 pieces and placed them on sale at seven locations. Oprah’s “Favorite Thing” designation of Spanx in November 2000 caused sales and consumer interest in Blakely’s invention to rise. Spanx made $4 million in sales in its first year of operation. The sales soared to $10 million in the second year.
In the first six minutes that 8,000 pairs of Spanx were on sale, Blakely, who had a contract with QVC, sold them. No money has ever been spent on advertising by Blakely or Spanx as this product has grown solely through natural word-of-mouth and astute public relations. Sales of Spanx were reported at $400 million in 2017 and Blakely owns the private company outright and has never accepted financing from outside sources.
Sara Blakely Husband
In 2008, she wed Marquis Jet co-founder and his love Jesse Itzler in Boca Grande, Florida, before getting married, the pair dated for a year after meeting at a Net Jet Poker Tournament.
Sara Blakely’s Net Worth
Sara Blakely has an estimated net worth of $1 billion as of 2022. In 2008, Blakely paid $12.11 million for a three-bedroom, 3,093-square-foot condo at 15 Central Park West in Manhattan, and in 2014, she sold it for $30 million.
Sara Blakely Height & Weight
|Eye Color Hazel|
|Hair Color Blonde|