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new york
CNN Business
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Spanx, the brand founded by shapewear pioneer Sarah Blakely, has named Kim Jones as her successor as CEO.
The Atlanta-based company promoted Jones, a longtime Spanx executive, on Friday. Blakely will continue to serve as chairman of Spanx’s board.
Jones joined Spanx in 2005 and previously held roles as the brand’s chief financial officer and president. She said she wants to expand Spanx’s global and digital growth and apparel offerings. Last week, the company launched its first clothing collection.
“She has been instrumental in the company’s growth from its inception to today, identifying digital-first apparel brands,” Blakey said. “Her passion and deep understanding of the brand and the customer make her the perfect fit for the job[Impeccable].”
In 2000, Spanx was founded with just $5,000 in savings. Two decades later, the brand is synonymous with shapewear and has inspired other players in the market it created, including Skims, founded by Kim Kardashian in 2019.
In the year In October 2021, the company struck a deal with private equity firm Blackstone to acquire a majority stake in Spanx, a move that valued the business at $1.2 billion. She honored the deal by giving the workers two first-class plane tickets and $10,000 each.
Blakely was named by Forbes In the year The youngest self-made billionaire in 2012, she told CNN Business in 2018 that she tried a few gigs before starting her company — including a failed attempt to be a goof at Disney World.
“My dream is to have more female creators,” she said at the time. “We want the contribution of women.”
— CNN’s Rob McLean contributed to this report
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