Spanx Founder Sara Blakely Buys Olivia Newton-John’s "Grease" Pants

Spanx founder Sara Blakely revealed that she won the bidding for the skintight satin pants worn by Olivia Newton-John in the 1978 movie Grease, Page Six reports.

The pants were auctioned off with other items from the film on Saturday. Blakely told CBS This Morning that she plans to hang the pants in a frame at Spanks headquarters in Atlanta, saying that they inspired the company's faux leather leggings.

The CEO is an admitted huge fan of Newton John, who sang at her wedding, and bid $162,500 to win the piece of movie memorabilia during the charity auction.

A portion of the proceeds will go to the Olivia Newton-John Cancer Wellness & Research Centre in Australia.

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