Sara Blakely cut the feet off her pantyhose and invented a billion-dollar company

In 2000, Sara Blakely was a 27-year-old fax machine saleswoman living in Atlanta. She had a pair of white pants she loved but could not wear with pantyhose because the seamed foot showed through her open-toe shoes. Without pantyhose, the pants were less flattering. Her solution was to cut the feet off her control-top pantyhose. The pantyhose no longer rolled up her leg — they stayed in place and gave her a smooth look.

Blakely realized she was not the only woman with this problem. She spent $5,000 of her savings and two years developing a proper footless pantyhose product. She chose the name Spanx — inspired by the 'k' sound in Coca-Cola and Kodak, but spelled differently because she read that made-up names sold better. Several hosiery factories turned her down. She finally convinced a manufacturer by showing up in person and demonstrating the product.

Blakely launched Spanx from her apartment in February 2000. She convinced Neiman Marcus to carry the product by modeling white pants with and without Spanx in the ladies' restroom. The breakthrough came in November 2000 when Oprah Winfrey named Spanx one of her 'Favorite Things.' Orders exploded. Blakely quit her sales job and ran the company from her one-bedroom apartment.

Spanx grew into a global brand. By 2011, annual revenue exceeded $250 million. In 2021, Blackstone purchased a majority stake at a $1.2 billion valuation. Blakely became executive chairman and gave every employee $10,000 and two first-class plane tickets. The DIY fix for a pair of white pants had become one of the most successful women's apparel brands in history.