The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Shapewear maker Spanx has tapped Goldman Sachs to explore options including a sale, New York Times’ DealBook newsletter reported on Friday, citing multiple sources familiar with the matter.
The report said Spanx has attracted interest from private equity firms, including Carlyle, and that any deal could value it at $1 billion or more. It also said Spanx’s founder Sara Blakely could retain some ownership in the company.
Spanx did not immediately respond to a Reuters request for comment.
Rival Skims, by reality star and businesswoman Kim Kardashian West, said earlier this year it had raised $154 million in its latest funding round to reach a $1.6 billion valuation.
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Demand for apparel has rebounded in recent weeks as the United States returns to relative normalcy on the back of speedy Covid-19 vaccinations and easing of restrictions.
Spanx made between $50 million and $80 million in operating earnings on revenue of $300 million to $400 million over the past year, the NYT report said.
By Praveen Paramasivam; Editor: Shinjini Ganguli
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.