Spanx, LLC is an American shapewear company founded in 2000 by Sara Blakely in Atlanta, Georgia. The company offers innerwear and outerwear, including activewear, apparel, denim, shapewear, swimwear, intimates, leggings, and hosiery. As of 2021, the company was valued at $1.2 billion and its products are sold in over 50 countries.

Sara Blakely created Spanx in 2000 as a solution to the discomfort she experienced wearing pantyhose in hot weather, and disliking the seamed foot that stuck out of an open-toe shoe. After graduating from Florida State University (FSU) in 1993, Blakely first worked at Walt Disney World Resort, followed by Danka, an office supply company, where she sold fax machines door-to-door. She cut the feet off her control-top pantyhose to achieve a “smooth look” under white pants but did not like that the pantyhose rolled up her leg. Blakely moved to Atlanta, where she continued working for Danka from 9-5, set aside her $5,000 in savings, and spent two years creating her product. Blakely explained that she chose the name “Spanks” because of the “k” sound in the internationally recognized “Coca-Cola” and “Kodak.” She changed the spelling to “Spanx” at the last minute after reading that made-up names sold better. After several hosiery factories turned down her product, Blakely brought her idea to Neiman Marcus, where she convinced the buying rep by modeling her white pants with and without Spanx. She then brought the product to Bloomingdale’s, Saks Fifth Avenue and Bergdorf Goodman.

Once the Spanx brand was created, Blakely sent several of her products to The Oprah Winfrey Show. In November 2000, the brand was featured in Oprah's Favorite Things. In 2001, Blakely arranged with QVC to feature her product. In 2011, Spanx reported revenue of just under $250 million, and Forbes rated Blakely as the youngest self-made female billionaire. Spanx opened its first brick-and-mortar store in 2012. In 2013, Jessica Alba, Adele and Jennifer Garner wore Spanx to the Oscars. Gwyneth Paltrow also wears the brand.

In 2021, the asset manager firm Blackstone bought a majority stake in Spanx, valuing the company at $1.2 billion. An all-female investment team from Blackstone prepared the deal, and it was announced that the Board of Directors would be all-female, with Blakely serving as executive chairman. At the same time, Oprah Winfrey, Reese Witherspoon, and Whitney Wolfe Herd also invested in Spanx.

In 2000, Blakely launched the Spanx brand from her apartment, undertaking all initial calls and marketing herself. Her boyfriend at the time, a healthcare consultant, later resigned from his job and joined Blakely in the running of the nascent business.

Blakely previously conducted a meeting with a representative of the Neiman Marcus Group, at which she changed into the product in the ladies restroom in the presence of the Neiman Marcus buyer to prove the benefits of her innovation. Blakely's product was sold in seven Neiman Marcus stores as a result of the meeting; Bloomingdales, Saks, and Bergdorf Goodman soon followed.

Following the establishment of the company, Blakely's then-boyfriend eventually became Spanx's chief operating officer (COO) and met Laurie Ann Goldman at the Saks Fifth Avenue in Atlanta in 2001, while she was on maternity leave from her employer at the time, Coca-Cola. Goldman was specifically looking for a Spanx product, and the pair exchanged contact details—Goldman became the CEO of Spanx in 2002.

Writing for Fortune magazine in February 2014, Colleen Leahey identified Goldman as a key aspect of the company's successful growth: