FIGS, Inc. Overview
Pro stress-test →FIGS, Inc. operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. The company designs and sells scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel. The healthcare apparel industry is largely non-discretionary, recession resistant and much less susceptible to fashion or fad risk.
Strategic Profile
Pro stress-test →FIGS' fourth-quarter revenue surged 33% year over year to $201.9 million, with scrubwear sales leaping 35.1% to $154.9 million and U.S. revenue rising 28.7% to $164.2 million. CEO Trina Spear stated that the opportunity to serve healthcare professionals globally is massive, with full-year revenue growth projected at 10% to 12%. The company anticipates an adjusted EBITDA margin of roughly 12.8%, with the CEO noting that COVID overhang is past and structural industry advantages serve as tailwinds.
Competitive Landscape
Pro stress-test →FIGS faces competition from smaller manufacturers such as Scrubs & Beyond and Jaanuu. The company has differentiated itself through skillful branding and successfully positioned scrubs as symbols of trendiness and identity, enabling premium pricing power versus traditional uniform providers. Its direct-to-consumer model and proprietary fabric technology provide competitive moats in a fragmented market.
Industry Context
FIGS, Inc. operates in Healthcare Apparel & Medical Uniforms.
Key facts
Founded: 2013 · Headquarters: Santa Monica, US · Employees: 316 · Revenue: $556M (2024) · Market cap: $1.75B