Spanx founder buys Olivia Newton-John's 'Grease' pants

November 6, 2019

(AP Photo/Evan Agostini, File)

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NEW YORK (AP) — The founder of Spanx was revealed to be the successful bidder for the skintight satin pants that Olivia Newton-John wore in the movie "Grease."

Sara Blakely told "CBS This Morning" Tuesday she plans to frame the pants and hang them at Spanx's headquarters in Atlanta because they inspired the company's black faux-leather leggings.

The 8 year old girl in me is flipping out! My favorite movie growing up was Grease (by far) and I am a HUGE Olivia Newton John fan. In fact, she actually sang at my wedding (that’s another story). Anyway, when I heard her iconic leggings from the movie were up for auction and all the proceeds were going to charity, I had to bid! Well..I WON! These pants are not only iconic but they were the inspiration behind the @spanx faux leather leggings and will proudly hang in our office. That said, these pants represent way more to me than just leggings. They are a reminder that young girls everywhere with big dreams...can have their dreams come true. They represent opportunity, hard work and resiliency. And, they represent a part of the 70’s...one of the coolest decades ever and one of which I’m so glad I was raised. #GreaseIsTheWord #DreamsDoComeTrue @therealonj @gayleking @cbsthismorning @cbsnews

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Blakely bid $162,500 for the pants, which Newton-John had to be sewn into for the 1978 film.

Blakely says she is huge fan of Newton-John, who sang at Blakely's wedding.

Newton-John says she's excited Blakley purchased them.

Julien's Auctions says the leather jacket that Newton-John's character, Sandy, wore fetched $243,200, bringing the total for the outfit to $405,700.

The proceeds from the jacket and pants, as well as a portion of the other items sold, will go the Olivia Newton-John Cancer Wellness & Research Centre in Australia.