Sara Blakely (2014)
|Born||Sara Treleaven Blakely|
February 27, 1971
Clearwater, Florida, U.S.
|Residence||Atlanta, Georgia, U.S.|
|Alma mater||Florida State University|
|Known for||Founder and owner of Spanx|
Minority owner of the Atlanta Hawks
|Net worth||US$1.14 billion (November 2017)|
Sara Treleaven Blakely (born February 27, 1971) is an American billionaire businesswoman, and founder of Spanx, an American intimate apparel company with pants and leggings, founded in Atlanta, Georgia. In 2012, Blakely was named in Time magazine's "Time 100" annual list of the 100 most influential people in the world. As of 2014, she is listed as the 93rd most powerful woman in the world by Forbes.
Blakely was born February 27, 1971, in Clearwater, Florida. She is the daughter of Ellen (née Ford), an artist, and trial attorney, John Blakely. She has a brother, artist Ford Blakely. She attended Clearwater High School and graduated from Florida State University with a communication degree, where she was a member of the Delta Delta Delta sorority.
Although she initially planned to become an attorney, she reconsidered after placing very low on the Law School Admission Test; she instead accepted a job at Walt Disney World in Orlando, Florida, where she worked for three months. She also occasionally worked as a stand-up comedian during this period.
After her short stint at Disney, Blakely accepted a job with office supply company Danka, where she sold fax machines door-to-door. She was quite successful in sales and was promoted to national sales trainer at the age of 25. Forced to wear pantyhose in the hot Floridian climate for her sales role, Blakely disliked the appearance of the seamed foot while wearing open-toed shoes, but liked the way that the control-top model eliminated panty lines and made her body appear firmer. For her attendance at a private party, she experimented by cutting off the feet of her pantyhose while wearing them under a new pair of slacks and found that the pantyhose continuously rolled up her legs, but she also achieved the desired result (the original pants are now enshrined at Spanx headquarters).
Blakely then drove to North Carolina, the location of most of America's hosiery mills, to present her idea. She was turned away by every representative; these companies were used to dealing with established companies, and did not see the value of her idea. Two weeks after arriving home from her North Carolina trip, Blakely received a call from a male mill operator based in Asheboro, North Carolina, who offered to support Blakely's concept, as he had received strong encouragement from his three daughters. Blakely further explained in 2011 that the experience of developing her idea also revealed to her that the hosiery manufacturing industry was overseen solely by men who were not using the products they were producing.
The creation of the initial product prototype was completed over the course of a year.
Blakely then returned to a patent attorney to finalize her application prior to her submission to the United States Patent and Trademark Office (USPTO) and he agreed to assist her for a sum of US$750. Following the submission of the online application, she then worked on the packaging of her product.
Blakely used her credit card to purchase the "Spanx" trademark on the USPTO website for US$150.
She managed to arrange a meeting with a representative of the Neiman Marcus Group, at which she changed into the product in the ladies restroom in the presence of the Neiman Marcus buyer to prove the benefits of her innovation. Blakely's product was sold in seven Neiman Marcus stores as a result of the meeting; Bloomingdales, Saks, and Bergdorf Goodman soon followed. At around this time, Blakely sent a basket of products to Oprah Winfrey's television program, with a gift card that explained what she was attempting to develop.
Blakely initially handled all aspects of the business, including marketing, logistics and product positioning, preferring the location of Spanx alongside shoes in retail outlets, rather than in hosiery sections; however, her boyfriend at the time, a healthcare consultant, later resigned from his job and joined in the running of the nascent business. Blakely was contacting friends and acquaintances, including those from her past, and asking them to seek out her products at select department stores in exchange for a check that she would send to them by mail as a token of appreciation.
In November 2000, Winfrey named Spanx a "Favorite Thing", leading to a significant rise in popularity and sales, as well as Blakely's resignation from Danka. Spanx achieved US$4 million in sales in its first year and US$10 million in sales in its second year. In 2001, Blakely signed a contract with QVC, the home shopping channel, and sold 8,000 pairs in the first six minutes of operation.
In October 2013, Blakely explained that her ambition is to design the world's most comfortable high-heel shoe prior to retirement. As of 2014, she is listed as the 93rd most powerful woman in the world by Forbes.
In 2015, Blakely and her husband Jesse Itzler were part of a group led by Tony Ressler along with Grant Hill, Steven Price, and Rick Schnall, that successfully purchased the Atlanta Hawks for $850 million.
In 2005, Blakely attained second place as a contestant on The Rebel Billionaire, a reality television series that introduced her to Richard Branson, who later supported Blakely in her endeavors as both an entrepreneur and philanthropist. She later starred as one of the judges on ABC's reality television series, American Inventor, alongside George Foreman, Pat Croce and Peter Jones.
She also appeared in a guest role, for a couple of seconds, in Season 3 Episode 12 (Elmsley Count) of 'Billions' as herself.
In 2006, Blakely launched the Sara Blakely Foundation to help women through education and entrepreneurial training—Blakely had considered the establishment of a non-profit foundation prior to the founding of Spanx. Richard Branson acted as a mentor to Blakely and, at the conclusion of The Rebel Billionaire, surprised Blakely with a US$750,000 check to start the Foundation.
Since its launch, The Sara Blakely Foundation has funded scholarships for young women at the Community and Individual Development Association City Campus in South Africa and Blakely appeared on The Oprah Winfrey Show in 2006, donating US$1 million to the Oprah Winfrey Leadership Academy for Girls. In 2013 Blakely became the first female billionaire to join the "Giving Pledge", Bill Gates and Warren Buffett's pledge, whereby the world's richest people donate at least half of their wealth to charity.
In 2008, Blakely married Jesse Itzler, the co-founder of Marquis Jet, at the Gasparilla Inn and Club in Boca Grande, Florida, U.S. The wedding was attended by actor Matt Damon and featured a surprise performance by singer Olivia Newton-John. Blakely has four children. She is a convert to Judaism.
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- Wes Moss (2 September 2008). Starting From Scratch: Secrets from 22 Ordinary People Who Made the Entrepreneurial Leap. Kaplan Publishing. pp. 77–86. ISBN 978-1-4277-9828-2. Retrieved 29 January 2013.
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- Daily Mail: "All Spanx to Sara: Meet Sara Blakely, the woman we have to thank for trimming our tums and boosting our bottoms" By Jane Mulkerrins April 6, 2013
- Forbes: "How Sara Blakely of Spanx Turned $5,000 into $1 billion" by Clare O'Connor March 14, 2012
- My Bay City: "Billionaire Spanx Founder Sara Blakely Has Bay City Connection" by Dave Rogers March 20, 2012 | "Sara's mother is Ellen Ford, the only child of Charles Kelton and Morrow Weber Ford, of Bay City. Ellen married attorney John Blakely after her graduation from the University of Michigan. She and John Blakely, who are divorced, also have a son, Ford Blakely. Ford Blakely is an entrepreneur in California "
- Sanders, Triston V. (September 1, 2007). "Behind the Seams". Tallahassee Magazine. Archived from the original on 21 October 2013. Retrieved 29 January 2012.
- "Sara Blakely Dared To Ask, "Why Not?"". Inc.com. January 20, 2012. Retrieved 8 March 2012.
- "Spanx Founder Sara Blakely Dared to Ask, 'Why Not?'" (Video upload). Inc. Monsueto Ventures. 1 December 2011. Retrieved 8 June 2014.
- ABC News: "Spanx Founder Reveals How to Build a Billion-Dollar Business" By MELIA PATRIA November 29, 2012
- Carla Caldwell (13 February 2014). "Spanx CEO steps down". Atlanta Business Chronicle. American City Business Journals. Retrieved 8 June 2014.
- "NBA unanimously approves sale of Atlanta Hawks" (Press release). National Basketball Association. June 24, 2015. Retrieved 24 June 2015.
- "Hawks finalizing sale with billionaire Antony Ressler". Atlanta Journal Constitution. Retrieved 23 April 2015.
- NBA: "Group Led By Tony Ressler Completes Purchase of Atlanta Hawks" June 25, 2015 | "Other investors include seven-time NBA All-Star Grant Hill, who will serve as Vice Chair of the Board, Townsquare Media Chair and CEO Steven Price, Clayton Dubilier & Rice partner Rick Schnall, and Spanx founder Sara Blakely and Marquis Jet co-founder Jesse Itzler, who are married"
- "Sara's Story". Spanx.com. SPANX, Inc. 2014. Retrieved 8 June 2014.
- "Sara Blakely | Shark Tank". abc.go.com. Retrieved 11 November 2017.
- "'Billions' Recap Reality Index".
- Renee Martin; Don Martin (5 April 2011). The Risk Takers: 16 Women and Men Share Their Entrepreneurial Strategies for Success. Vanguard. pp. 154–167. ISBN 978-1-59315-637-4. Retrieved 29 January 2013.
- Richard Branson. "Sara Blakely - making a real difference". Virgin.com. Virgin.com. Archived from the original on 14 July 2014. Retrieved 8 June 2014.
- Forbes:"Spanx Mogul Sara Blakely Becomes First Female Billionaire To Join Gates-Buffett Giving Pledge" by Clare O'Connor May 7, 2013
- Eldredge, Richard L. (July 30, 2008). "Spanx CEO books resort for wedding". The Atlanta Journal-Constitution.
- Atlanta Weddings (Atlanta Magazine): Spanx inventor Sarah Blakely on her wedding day" by Vikki Locke Archived 2013-04-18 at the Wayback Machine. October 18, 2008
- Eldredge, Richard L. (October 20, 2008). "Entrepreneurs get married over weekend". The Atlanta Journal-Constitution.
- People.com: "Caught in the Act!" October 23, 2008
- The Wall Street Journal (New York): "A Day in the Life of Spanx's Founder Sara Blakely" by Christopher Ross August 14, 2014
- Forbes Israel: Jewish Billionaires – Profile of Sara Blakely April 14, 2013 (in Hebrew)
- Atlanta Jewish Times: "Grady Honors New Moms" Vol. XCI No. 46, November 25, 2016
- Jewish Women's Archive: "Sara Blakely" retrieved 4 November 2017.
- Singer, Jenny (July 12, 2018). "These Are America's Richest Self-Made Jewish Women". Jewish Daily Forward.
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