Oprah Winfrey and Reese Witherspoon welcome new Spanx investment

Courtesy of Spanx in partnership with Silcon Rouge A free trunk show for Oprah Winfrey and Reese Witherspoon enthusiasts will be held March 9 at the Victoria’s Secret flagship store in Sydney, Australia. Spanx…

Oprah Winfrey and Reese Witherspoon welcome new Spanx investment

Courtesy of Spanx in partnership with Silcon Rouge A free trunk show for Oprah Winfrey and Reese Witherspoon enthusiasts will be held March 9 at the Victoria’s Secret flagship store in Sydney, Australia.

Spanx has inked an investment deal with two of its biggest fans: Oprah Winfrey and Reese Witherspoon.

The investment, which brings a new $3.2 million infusion into the company, is part of a multimillion-dollar deal with lingerie brand Silicone Rouge, which makes organic body makeup products.

Spanx is reportedly selling only 35 percent of Silicone Rouge to U.S. multinational consumer goods company Devonshire for the money.

Devonshire International “met various milestones in Silicone Rouge’s accelerated growth trajectory, including record revenue in 2017, including double-digit growth in international markets, such as the UK and Germany, which contributed to a 46 percent increase in international revenues,” the company said in a statement on Wednesday.

Miki Agrawal, co-founder of Silicone Rouge, said she is looking forward to working with the brand.

“Partnering with Devonshire is a true opportunity to leverage the vision and expertise of a world class brand,” she said.

Winfrey tweeted her enthusiasm for the deal and said she and Witherspoon will work with Devonshire “to spread the word and make healthy comfortable.”

Witherspoon expressed the same enthusiasm for the deal, tweeting, “If you read between the lines, you will see we get a year off talking about how amazing Spanx is. I am so excited to make you very comfortable indeed. [@Spanx] Hello!”

The deal will also see Witherspoon promote Silicone Rouge products on “The Oprah Winfrey Show,” and Devonshire will support the brand and its management team in future marketing and branding activities.

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