The Fed’s favorite inflation gauge remains high, but the monthly increase in May slowed.
Just as people are beginning to squeeze into form-fitting clothes again, the shapewear brand Spanx has tapped Goldman Sachs to explore options including a sale, reports the DealBook newsletter, based on multiple sources familiar with the situation.
Any deal could value Spanx at $1 billion or more and allow Sara Blakely, the brand’s founder, to keep some of her ownership in the company. Spanx generated $300 million to $400 million in revenue over the past year, and $50 million to $80 million in operating earnings.
The people spoke on condition of anonymity because the talks were confidential. Spanx did not respond to multiple requests for comment.
The brand has attracted interest from private equity firms, including Carlyle, whose past investments in brands include Beautycounter, OGX and Supreme, and TPG, which has invested in Anastasia Beverly Hills.
Sales of women’s dresses were up 50 percent the week before Easter compared with the same week in 2019, according to NPD, which could signal demand for shapewear as lockdowns lift and people return to the office and go out more. But key to shapewear’s post-pandemic success will be products that maintain a level of comfort many have become used to while working in loose clothing over the past year and a half. And post-pandemic style trends are hard to predict, with even professional forecasters conceding befuddlement.
Article source: https://www.nytimes.com/live/2021/06/25/business/economy-stock-market-news/