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.
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.
Source: Reuters
Can’t stop reading? Read more
Blackstone taps bond market as private credit BDCs end issuance drought
Blackstone taps bond market as private credit BDCs end issuance drought Blackstone's private...
EQT raises the stakes with revised $12.3bn bid for Intertek
EQT raises the stakes with revised $12.3bn bid for Intertek EQT has tabled an improved takeover...
Temasek’s Azalea bets on evergreen structure to democratise private equity access
Temasek's Azalea bets on evergreen structure to democratise private equity access Azalea, a unit...