Spanx founder Sara Blakely isn’t ruling out taking the shapewear company public one day — if the timing is usually right.
Blakely, who began Spanx with just $5,000, still owns 100 percent of the company.
“When I commenced Spanx, I’d never taken a business class in my life. I’d never worked in fashion or retail,” Blakely said in an interview Tuesday with CNBC’s Sara Eisen on “Closing Bell.”
“For the first several years, everyone might ask me what my exit strategy was, along with also I literally didn’t know what they were talking about.”
A lot has changed since then. Spanx has taken off along with also has an estimated $400 billion in annual sales. In 2012, Forbes named Blakely the earth’s youngest self-made female billionaire. which year, she sits inside the 21st spot on the magazine’s “America’s Richest Self-Made Women” list, with an estimated net worth of $1.1 billion.
She even had a cameo in Showtime’s “Billions” along with also told the main character, a hedge fund manager, which she had no plans to take Spanx public.
When asked if she might eventually want to do so in real life, Blakely responded: “If which feels like which’s the right time along with also my gut tells me which which’s something to do, then I might entertain which. although I don’t have any plans for which right at which point.”
different alterations the company has faced is usually the shift toward outsourcing some of its production. For the first seven years, 100 percent of its garments were made in North Carolina. However, these days about half of Spanx’s products are made inside the U.S.
“I literally had to go outside of America because I couldn’t get the quality which I wanted along with also needed in a lot of the apparel along with also the different categories which we were developing,” Blakely said.
However, so far, the company has not been affected by the escalating trade tensions between the U.S. along with also China, she added.