FIGS, the start-up disrupting the 60 billion dollars medicalapparel market

New York - "Medical professionals have NEVER had the opportunity to shop for their uniforms like they would regular clothes, despite wearing scrubs more frequently than any other article of clothing they own.” This was the reflection that led Heather Hasson and Trina Spear to found FIGS in 2013.

The fashionable scrubs (uniform worn by medical and healthcare professionals) company’s mission is revolutionising the 60 billion dollars medical apparel industry by “creating the highest quality medical apparel in the world and by selling directly to medical professionals”.

In order to achieve that, FIGS developed its proprietary, performance-oriented fabric technology to meet the unique demands of the medical profession. ‘FIGS' Technical Collection’ fabric is antimicrobial, wrinkle-resistant, stain and liquid repellent, moisture-wicking, lightweight, breathable and offers four-way stretch. But what actually sets FIGS apart from other niche providers is that their designs are tailored, sophisticated and incorporate features such as yoga waistbands, smart storage (pockets, zippers, hidden pockets) and other features that appeal to modern healthcare professionals.

Promising niche attracts 75 million dollars investment in three years

This approach is paying off for Hasson and Spear: their company has raised 75 million dollars from investors since its inception. Financial backers include Tulco (which injected 65 million dollars into the business in 2017), Irving Place Capital, Mohr Davidow Ventures, Will Smith and others who collectively invested 10 million dollars in FIGS.

Over the period comprehended between 2015 and 2018, FIGS reported 9,948 percent growth, being recognised as Best for the World B-Corp in 2015, as well as ranked Number 21 on Inc. Magazine's Inc. 5000 ranking of the U.S. fastest-growing companies in 2018.

FIGS’ appeal for millennials: data-driven e-commerce and fashionable workwear

According to company’s official sources, this success has been driven by the fact that “FIGS is the first medical apparel company to sell directly to the consumer through its thoughtful, data-driven e-commerce platform that utilises predictive analytics, a streamlined UI / UX experience and lifestyle-driven imagery.”

As a result of this insight-driven strategy, Scrubs opened earlier this year their first physical store in LA. "We're experiencing tremendous growth and it's super important to maintain the integrity of our brand. Through experiences like the pop-up and billboard campaigns, we're letting our customers know that we're not slowing down when it comes to reinventing the medical apparel industry and we are going to continue to show up for our community every day," said in a corporate release Jenny Seyfried, VP of brand at FIGS.

They have also known how to win over consumers’ hearts: FIGS' Threads for Threads initiative has donated over 500,000 sets of scrubs to healthcare providers in need in over 35 countries around the world.

Photo:FIGS official website

 

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