Tuesday 26 October 2021
2 plane tickets and $10,000
Spanx boss gives employees the trips of their dreams
Sarah Blakely, founder of lingerie company Spanx, wants to celebrate a big deal and surprise her party employees with first-class airline tickets and generous pocket money for everyone. In an emotional letter, the 50-year-old businessman explains why.
Usually employees only dream of such surprises from the executive floor. The dreams of Spanx underwear company employees came true last week. Company founder Sarah Blakely gave her employees two first-class airline tickets and $10,000 each at a party.
The reason for the Christmas gifts was the company’s new $1.2 billion valuation after investment giant Blackstone acquired a majority stake in the lingerie company. Blakely said in a letter that she wanted to thank employees for the company’s 21 years of successful history The 50-year-old posted on Instagram: “To stand here today and think about what we can innovate and what we can achieve because we are authentic, friendly and women make great products (…), this is a great moment for female entrepreneurs.”
It was an emotional announcement: “Then tears really flowed as I surprised everyone with two first class tickets with Delta around the world and $10,000 cash for the trip. I really want every employee to take this moment to celebrate it in their own way and create a memory that will last a lifetime! Cheers to 21 years of Magic and many more to come, Blakely wrote.In the video, the staff can be seen erupting in glee.
Blakely founded Spanx in 2000 with just $5,000 in savings. She was 29 years old at the time. The idea for the business was born when she cut off the legs of her pantyhose because she wanted a pair of panties that would recently give her cute pantyhose. At the time, she wanted her company to be worth $20 million someday. She says people made fun of her looking back. Her startup today has 750 employees and is not worth millions, but billions.
As early as 2012, the business magazine “Forbes” recognized Blakeley as the youngest self-made billionaire in the United States. In 2014, she was ranked 93rd in the ranking of the most powerful women in the world. “This is a very big moment for each of you, and I want to drink to the women who have gone before me and all the women in the world that I haven’t had the chance to,” Blakely said at the ceremony. According to the Guardian, women are represented 50 percent in the business world, but only 2.3 percent of venture capital funding goes to them. Blakely will retain a “significant stake” in the company, Blackstone announced.