A new way to boost the bottom line: Shapewear giant Spanx set to open chain of standalone boutiques
22:05 GMT, 13 August 2012
Spanx has announced that it is to open its first standalone retail stores in October.
The shapewear giant will simultaneously open in three locations on the East Coast: Tysons Corner Center in Virginia, Garden State Plaza in New Jersey, and the King of Prussia Mall in Pennsylvania.
It is believed that the stores will stock figure-flattering swimwear and sportswear, as well as the company's much-loved control undergarments.
Shop tactics: The soon-to-open Spanx boutiques will likely resemble its concessions in major department stores
Spanx confirmed the news on Friday to WWD, but would not reveal any further details.
The brand's wares, a favourite with celebrities from Kelly Osbourne to Gwyneth Paltrow to Oprah, are currently sold around the world.
It is likely that the new standalone
boutiques will resemble concessions in major department stores, such as
Bloomingdales in Manhattan's Midtown.
Retail hit: Spanx shapewear (left) is adored by women around the world – and now men too, with the launch of tummy control T-shirts for the male market (right)
Spanx, which generates revenues in excess of $225million, according to WWD, was founded by Sara Blakley.
Forbes' youngest self-made billionaire: Spanx founder Sara Blakely with her husband Jesse Itzler in February
The Florida-born 41-year-old appeared this year on the cover of Forbes' Billionaires issue and is the youngest self-made woman to have ever made the list.
According to the profile, she made her fortune largely as a one-woman
show, travelling cross-country for in-store demonstrations and taking
customer service calls from her bathroom at home.
She famously never advertises, has no investors, has never been in debt, and built her company with just $5,000 of life savings.
The mother-of-one told Forbes: 'I’d never worked in fashion or retail. I just needed an undergarment that didn’t exist.'
Her instincts, it seems, were spot on. Neiman Marcus CEO Karen Katz, who saw her first ever pitch, said: 'Sara’s effort was to solve an age-old problem for women in a modern
way. We were smitten from the beginning.'