Oprah Winfrey and Reese Witherspoon are part of a group of backers investing in Spanx, the artificial skin-like strip of fabric that that is sweat worn over the body instead of traditional clothing.
In a company press release, Spanx described Oprah’s weight loss as directly influencing the business and crediting her with many of its accomplishments.
In 2003, Oprah wrote in the company’s manual, “Shaping is sweating too much. I found her waist ‘tape’ went up first, hips second, and then my tummy. Yep, just like she used to say. She covered it with fabric and her belly bulged back out.”
Oprah eventually participated in the company’s public offerings, and became a member of the board of directors in 2007. She also serves as a creative consultant for Spanx.
Winfrey, 65, recently spoke at the Golden Globes. She told an audience, “Of course, I am in awe of this moment in our history. Yes, as the proud owner of a few thousand shares of Spanx, I am in the room tonight, yes, indeed, feel that body confidence and being able to take control of your own destiny is more than an election, more than a slogan.”
She also said, “If you are like me you’re kind of holding your breath tonight, hoping that the man who I know will become the next President of the United States will be kinder, gentler, more inclusive than our current one. We need that right now. We need more love and kindness in the world. We need our leaders to model that. More love and kindness and empathy — that’s how we will solve big problems.”
Spanx’ investors also include John Legend, Sir Paul McCartney, Sarah Jessica Parker, Ellen DeGeneres, Demi Moore, Seth Rogen, Jason Sudeikis, Emily Ratajkowski, Jessica Alba, Chris Pratt, Sophia Bush, Zooey Deschanel, Channing Tatum, Salma Hayek, Cameron Diaz, Colin Farrell, Dr. Mehmet Oz, Mario Lopez, John Legend, Ariana Grande, Victoria Beckham, Miley Cyrus, and Hillary Clinton.
The company’s stock finished Friday at a price of $13.80, up over 70 percent from $7.50 in October of 2016, after a legendary run of high earnings from the Made-In-America business that started 35 years ago. Spanx’ chief executive, Sara Blakely, is no longer a board member.
Chris McGinnis is a William Paterson University graduate and a Digital Marketing manager for Fox News. Follow Chris on Twitter: @ChrisMcGinnis