Blackstone Buying Spanx at $1.2B Valuation - NewsBreak

Investment giant Blackstone is buying a majority stake in apparel brand Spanx at a $1.2 billion valuation. Founded in 2000, Spanx stands apart from many longstanding activewear makers through its digital presence: Two-thirds of the company's sales are through its website. Blackstone believes that there is strong potential for sales growth through ramped-up marketing.