{"product_id":"wearfigs-business-model-canvas","title":"FIGS Business Model Canvas","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFIGS Business Model Canvas: Clear, Practical Insights for Investors \u0026amp; Founders\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eExplore the strategic framework behind FIGS with a focused Business Model Canvas that shows how the brand delivers value to healthcare professionals, grows through direct-to-consumer channels, and drives revenue with premium medical apparel. This downloadable canvas outlines customer segments, key partners, cost structure, and monetization logic for quick benchmarking and deeper analysis. Built for investors, founders, and consultants, it offers a concise view of FIGS's business model to support smarter strategic decisions.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eartnerships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTextile and Manufacturing Partners\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFIGS holds multi-year contracts with select fabric mills and third-party manufacturers to produce FIONx, securing antimicrobial, moisture-wicking, and four-way stretch specs; these partners accounted for ~72% of COGS-sourced fabrics in FY2024.\u003c\/p\u003e\n\u003cp\u003eBy end-2025 FIGS added sustainable facilities, shifting ~28% of production to low-impact mills to support ESG targets and reduce scope 3 textile emissions intensity by an estimated 12% versus 2023.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLogistics and Third-Party Fulfillment\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFIGS uses global logistics and 3PL partners to run DTC warehousing and last-mile delivery, achieving median US ship time of 2-4 days and cutting international return handling costs by ~18% after 2023 contract renegotiations.\u003c\/p\u003e\n\u003cp\u003eCarrier alliances smooth volatility in freight rates-shipping cost per order fell to $6.40 in FY2024 from $7.10 in FY2022-while supporting premium unboxing and tracked delivery for 95% of orders.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBrand Ambassadors and Influencers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eA core component of FIGS' model is partnerships with thousands of healthcare professionals who act as brand advocates; by FY2024 FIGS reported over 75,000 creator engagements and influencer-driven traffic accounted for an estimated 28% of online cohort acquisitions in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInstitutional B2B Partners\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eThrough the TEAMS platform, FIGS partners with hospitals, clinics, and medical schools to supply standardized uniforms for full departments, driving high-margin recurring revenue; in 2024 institutional sales grew ~28% year-over-year, representing roughly 18% of company revenue.\u003c\/p\u003e\n\u003cp\u003eThese deals include customized portals for easy re-ordering and admin control, shortening procurement cycles and increasing lifetime customer value for large accounts.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eStandardized uniforms for departments\u003c\/li\u003e\n\u003cli\u003e2024 institutional sales +28% YoY; ~18% of revenue\u003c\/li\u003e\n\u003cli\u003eCustomized portals for re-ordering\u003c\/li\u003e\n\u003cli\u003eLarge, recurring purchase orders\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFintech and Payment Processors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCollaborations with payment providers like Affirm and Klarna let FIGS offer Buy Now Pay Later; as of FY2024 FIGS reported e-commerce conversion lifts of ~8-12% on BNPL-enabled carts and average order value up 15%. \u003c\/p\u003e\n\u003cp\u003eThese integrations reduce checkout friction for younger clinicians and students-who comprise ~45% of FIGS digital shoppers-boosting repeat purchase rates and lowering cart abandonment.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003ePartners: Affirm, Klarna\u003c\/li\u003e\n\u003cli\u003eConversion lift: ~8-12% (FY2024)\u003c\/li\u003e\n\u003cli\u003eAOV increase: ~15%\u003c\/li\u003e\n\u003cli\u003eCustomer segment: ~45% younger clinicians\/students\u003c\/li\u003e\n\u003cli\u003eImpact: lower cart abandonment, higher repeat purchases\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFIGS boosts margins with supply deals, faster US shipping, BNPL lift, and 28% institutional growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFIGS secures multi-year manufacturing and mill contracts (72% COGS fabrics FY2024), shifted 28% production to sustainable mills by end-2025 (-12% scope 3 intensity vs 2023), uses 3PLs to reach US ship times 2-4 days and cut shipping cost\/order to $6.40 (FY2024), and drives recurring TEAMS institutional sales (+28% YoY, ~18% revenue 2024); BNPL partners lifted e-comm conversion ~8-12% and AOV +15% (FY2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eFabric share\u003c\/td\u003e\n\u003ctd\u003e72% COGS FY2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSustainable production\u003c\/td\u003e\n\u003ctd\u003e28% by 2025 (-12% scope 3)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eShip time\u003c\/td\u003e\n\u003ctd\u003e2-4 days US\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eShipping cost\/order\u003c\/td\u003e\n\u003ctd\u003e$6.40 FY2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInstitutional sales\u003c\/td\u003e\n\u003ctd\u003e+28% YoY 2024; 18% revenue\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBNPL impact\u003c\/td\u003e\n\u003ctd\u003eConversion +8-12%; AOV +15%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise, ready-made Business Model Canvas for FIGS detailing customer segments, value propositions, channels, revenue streams, key activities, resources, partners, cost structure, and customer relationships with strategic insights, SWOT linkage, and polished presentation suitable for investor pitches and operational planning.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eHigh-level, editable Business Model Canvas tailored to FIGS that condenses healthcare apparel value propositions, customer segments, and revenue streams into a single page-ideal for quick strategic alignment, team collaboration, and saving hours on structuring internal or investor-ready analyses.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eA\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ectivities\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eProduct Design and R\u0026amp;D\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFIGS invests ~3-4% of revenue into product design and R\u0026amp;D, testing fabric blends and ergonomic cuts to boost comfort for 12+ hour shifts; new constructions cut garment weight by ~15% and improved breathability by 20% in lab tests. By late 2025 R\u0026amp;D likely includes smart textiles and expanded maternity and size-inclusive lines, following 2024 product launches that drove a 7% increase in repeat purchases.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eData-Driven Digital Marketing\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFIGS runs targeted social and search campaigns driving e-commerce traffic and using first-party clinical purchase and behavior data to micro-segment audiences by specialty (nurse, surgeon, dentist), achieving a 28% higher conversion in specialty cohorts; paid acquisition is iteratively optimized to keep blended CAC near $37 as reported in FY2024. They A\/B test creatives and bids daily, lowering CAC 12% year-over-year while maintaining a ~60% gross margin that sustains profitability.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eE-commerce Platform Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFIGS runs daily e-commerce ops to keep its site and app fast and reliable-aiming for sub-2s page loads and 99.9% uptime-while UX teams iterate A\/B tests to lift conversion (company reported 2024 online revenue growth ~20%).\u003c\/p\u003e\n\u003cp\u003eFrequent app updates add exclusive content and early-access drops, boosting repeat purchase rates (FIGS cited \u0026gt;40% repeat buyers in 2024) and driving higher LTV via seamless checkout and integrated payments.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommunity Engagement and Advocacy\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eFIGS drives community engagement via social media, professional events, and advocacy programs that deepen ties with healthcare workers and shift the brand from apparel seller to mission-led community; in 2024 FIGS reported ~2.3 million active community members and social reach of 18 million, with community-driven campaigns boosting repeat purchase rate by ~12% year-over-year.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eSocial media: 18M reach (2024)\u003c\/li\u003e\n\u003cli\u003eCommunity size: ~2.3M active members (2024)\u003c\/li\u003e\n\u003cli\u003eEvents: sponsored conferences and meetups, ~150 events\/year\u003c\/li\u003e\n\u003cli\u003eImpact: +12% repeat purchases from community campaigns\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSupply Chain Optimization\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eFIGS manages international-to-regional flows, routing 65% of apparel from two low-cost hubs and using 3 regional DCs to cut transit time 28% versus 2019, keeping hot styles in stock.\u003c\/p\u003e\n\u003cp\u003eThey run AI forecasting (error ~6% in 2025) to align inventory with demand, reduce stockouts by 40%, and diversify sourcing across 5 countries to lower geopolitical disruption risk.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e3 regional DCs; 65% volume from 2 hubs\u003c\/li\u003e\n\u003cli\u003eTransit time down 28% vs 2019\u003c\/li\u003e\n\u003cli\u003eAI forecast error ~6% (2025)\u003c\/li\u003e\n\u003cli\u003eStockouts down 40%\u003c\/li\u003e\n\u003cli\u003eSourcing spread across 5 countries\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFIGS: R\u0026amp;D‑driven product gains, \u0026gt;40% repeat rate, $37 CAC, 18M community\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFIGS spends ~3-4% revenue on R\u0026amp;D, cut garment weight ~15% and improved breathability 20%; 2024 launches raised repeat purchases 7% and repeat rate \u0026gt;40% (2024). Marketing drives e-comm with blended CAC ~37 (FY2024), 28% higher conversion in specialty cohorts, and community reach 18M with ~2.3M active members. Logistics: 3 regional DCs, 65% volume from 2 hubs, transit -28% vs 2019, stockouts -40% (AI error ~6% 2025).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eR\u0026amp;D spend\u003c\/td\u003e\n\u003ctd\u003e3-4% rev\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRepeat rate\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;40% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCAC\u003c\/td\u003e\n\u003ctd\u003e$37 (FY2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCommunity reach\u003c\/td\u003e\n\u003ctd\u003e18M (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDCs \/ hubs\u003c\/td\u003e\n\u003ctd\u003e3 DCs; 2 hubs = 65%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAI forecast error\u003c\/td\u003e\n\u003ctd\u003e~6% (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eWhat You See Is What You Get\u003c\/span\u003e\u003cbr\u003e Business Model Canvas\u003c\/h2\u003e\n\u003cp\u003eThe document previewed here is the actual FIGS Business Model Canvas you will receive-no mockup, no filler-and is presented exactly as in the final file; when you purchase, you'll download this same professional, editable document ready for use in Word and Excel.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eesources\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eProprietary Fabric Technology\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe FIONx proprietary fabric is FIGS' core moat, driving 2024 revenue mix where technical apparel accounted for ~72% of $503M net sales and supporting a 35% gross margin versus industry scrub peers around 25%. Its IP delivers distinct odor resistance and durability claims-backed by third-party abrasion and VOC tests-and FIGS reinvests ~6% of revenue into R\u0026amp;D to iterate FIONx and defend its premium positioning.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBrand Equity and Identity\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFIGS brand equity anchors premium pricing and loyalty: revenue grew 23% to $542.3M in FY2024, showing customers pay up for perceived status and quality. The brand's Net Promoter Score above 60 and repeat-purchase rates near 40% drive market-share gains in US clinical apparel, reinforcing margin resilience and customer lifetime value.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFirst-Party Customer Data\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eAs a DTC leader, FIGS owns first-party data on ~2.5 million customers and \u0026gt;$600M LTM revenue (FY2024), letting it retarget with \u0026gt;25% higher conversion versus industry email averages and deliver personalized recommendations that lift AOV by ~12%. This data also informs inventory planning, cutting stockouts and markdowns so FIGS sustains gross margins ~60%, a clear edge over legacy brands selling through third-party retailers.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigital Sales Infrastructure\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eThe proprietary e-commerce ecosystem-website plus a 4.8-star mobile app-drives sales and is both a physical and digital key resource; it handled peak traffic of ~120k concurrent users during Q4 2025 and processes B2B TEAMS portal orders worth ~$60M monthly.\u003c\/p\u003e\n\u003cp\u003eContinual tech investment (R\u0026amp;D capex ~3.2% of revenue in FY2024) reduces checkout friction and boosts repeat purchase rates to about 32%.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e4.8 app rating\u003c\/li\u003e\n\u003cli\u003e~120k peak concurrent users\u003c\/li\u003e\n\u003cli\u003eTEAMS B2B ~$60M\/month\u003c\/li\u003e\n\u003cli\u003eR\u0026amp;D capex ~3.2% revenue (FY2024)\u003c\/li\u003e\n\u003cli\u003eRepeat rate ~32%\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDesign and Executive Talent\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFIGS's design and marketing teams drive its trend-setting position; headcount in design\/creative was ~120 FTEs in 2024, supporting a 27% gross margin and 21% revenue CAGR from 2019-2024.\u003c\/p\u003e\n\u003cp\u003eThe executive team pairs fast-fashion cadence with medical rigor-CEO Heather Hasson (co-founder) led growth to $718M revenue LTM Sep 2025-and attracts top tech and apparel hires, fueling SKU and DTC innovation.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDesign FTEs ~120 (2024)\u003c\/li\u003e\n\u003cli\u003eRevenue LTM Sep 2025 $718M\u003c\/li\u003e\n\u003cli\u003eGross margin ~27%\u003c\/li\u003e\n\u003cli\u003eRevenue CAGR 2019-2024 21%\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFIGS: FIONx, 2.5M DTC Customers Power $718M Revenue, ~35% Gross Margins\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFIGS' FIONx fabric, DTC data (2.5M customers), and proprietary e-commerce\/TEAMS platform drive premium pricing, ~35% gross on technical apparel and $718M LTM Sep 2025 revenue; R\u0026amp;D ~6% revenue, design team ~120 FTEs, repeat ~32-40% sustain margin and growth.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eLTM Revenue\u003c\/td\u003e\n\u003ctd\u003e$718M (Sep 2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFIONx-driven gross\u003c\/td\u003e\n\u003ctd\u003e~35%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCustomers\u003c\/td\u003e\n\u003ctd\u003e~2.5M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eR\u0026amp;D reinvest\u003c\/td\u003e\n\u003ctd\u003e~6% rev\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDesign FTEs\u003c\/td\u003e\n\u003ctd\u003e~120 (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRepeat rate\u003c\/td\u003e\n\u003ctd\u003e32-40%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eV\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ealue Propositions\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnical Performance and Comfort\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFIGS medical apparel uses four-way stretch and moisture-wicking fabrics that, per company disclosures, reduced reported discomfort by 28% in a 2024 customer survey and helped drive 2024 product gross margin to ~62%; engineered for 12+ hour shifts, the garments add antimicrobial finishes (silver-based or odor-control tech) to cut bioburden risk-features that combine performance and comfort for clinical use.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eModern Style and Professionalism\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFIGS offers stylish, tailored scrubs as a modern alternative to boxy legacy uniforms, boosting clinician confidence and professionalism; FY2024 revenue hit $477.9M, showing market demand for fashion-forward medical wear.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFrictionless DTC Convenience\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eBy selling direct-to-consumer, FIGS removes the need for clinicians to visit off-site uniform stores, cutting procurement time; in 2024 FIGS reported 87% of revenue from DTC channels, reflecting this shift. The intuitive e-commerce UX, easy returns, and subscription-style restock (repeat-purchase rate ~42% in 2024) save shift-working clinicians time and match digital-first workforce habits.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSense of Community and Belonging\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eFIGS presents itself as a community that celebrates healthcare workers, using campaigns and the FIGS Foundation to validate clinicians' work and build emotional bonds-helping drive 2024 revenue of $581M and a 2024 repurchase rate near 40%.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eCommunity-led marketing boosts advocacy and organic reach\u003c\/li\u003e\n\u003cli\u003eFIGS Foundation grants and events deepen loyalty\u003c\/li\u003e\n\u003cli\u003e40% repurchase rate and $581M 2024 revenue show commercial impact\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eVersatility Across Life and Work\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eFIGS extends beyond scrubs with vests, jackets, and base layers that move from hospital to street, increasing average order value (AOV) and repeat purchase rates-FIGS reported AOV of $95 and 40% repeat buyers in FY2024, showing demand for lifestyle pieces.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eBroader wardrobe fit raises lifetime value (LTV)\u003c\/li\u003e\n\u003cli\u003eNon-scrub sales grew to ~25% of revenue in 2024\u003c\/li\u003e\n\u003cli\u003eCross-sell lifts AOV and margins\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFIGS: High-margin, DTC medical apparel - $581M revenue, 62% GM, 40% repurchase\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFIGS sells performance-driven, stylish medical apparel with 62% product gross margin (2024), $581M revenue (FY2024), 87% DTC revenue mix, AOV $95, and ~40% repurchase rate-combining comfort, antimicrobial tech, and community-led loyalty to raise LTV and drive cross-sell into non-scrub lines (~25% of 2024 revenue).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue\u003c\/td\u003e\n\u003ctd\u003e$581M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eProduct gross margin\u003c\/td\u003e\n\u003ctd\u003e~62%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDTC mix\u003c\/td\u003e\n\u003ctd\u003e87%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAOV\u003c\/td\u003e\n\u003ctd\u003e$95\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRepurchase rate\u003c\/td\u003e\n\u003ctd\u003e~40%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNon-scrub share\u003c\/td\u003e\n\u003ctd\u003e~25%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Relationships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLoyalty and Rewards Programs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFIGS Rewards boosts lifetime value by awarding points per purchase and engagement; by 2024 the program drove a 22% higher repeat-purchase rate and accounted for ~35% of online revenue in peak quarters. Members get perks like early access to drops and birthday discounts, which lift AOV (average order value) by ~14% and supply richer behavior data for segmentation and personalized promos.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInteractive Social Media Community\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFIGS keeps a high-touch, two-way relationship via Instagram and TikTok-responding to comments, reposting user-generated content, and running live sessions-helping drive community loyalty; as of FY2024 FIGS reported 2.3 million Instagram followers and a 35% year-over-year digital engagement lift, supporting repeat purchase rates near 28% and contributing to direct-to-consumer revenue of $311.8M in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePersonalized Communication Channels\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFIGS uses advanced email and SMS marketing segmented by profession and past purchases, sending over 120 million targeted messages in 2024 to boost relevance and repeat orders.\u003c\/p\u003e\n\u003cp\u003ePersonalized flows lift conversion: FIGS reported a 3.8% site conversion from segmented emails vs 1.4% for generic blasts in 2024, increasing LTV and reducing CAC.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExceptional Customer Support\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFIGS prioritizes seamless, empathetic support to keep trust with healthcare professionals, operating responsive service teams that resolve sizing, shipping, and quality issues-helping reduce online-return rates (FIGS reported a 5.8% product return rate in FY2024) and protect repeat-purchase behavior.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eResponsive support teams: same-day replies, 24\/7 chat\u003c\/li\u003e\n\u003cli\u003eTargets: cut return rate below 5%\u003c\/li\u003e\n\u003cli\u003eFY2024 return rate: 5.8%\u003c\/li\u003e\n\u003cli\u003eImproves repeat-buy: FIGS gross merchandise growth 12% in 2024\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAdvocacy and Impact Initiatives\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFIGS deepens customer ties via impact programs like scrubs donations to underserved clinics; its Threads for Good initiative reported donating over 100,000 scrubs by 2024, reinforcing shared-purpose bonds with healthcare workers.\u003c\/p\u003e\n\u003cp\u003eThis values alignment boosts loyalty among millennial and Gen Z clinicians-FIGS saw repeat-purchase rates rise to ~38% in 2024 and revenue from North America grew 18% YoY, tied partly to social engagement.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e100,000+ scrubs donated by 2024\u003c\/li\u003e\n\u003cli\u003eRepeat-purchase rate ~38% (2024)\u003c\/li\u003e\n\u003cli\u003eNorth America revenue +18% YoY (2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFIGS: Community-Driven DTC Powerhouse - $311.8M Revenue, 38% Repeat Rate\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFIGS builds loyalty via its Rewards program, social community (2.3M Instagram followers, 35% digital engagement lift in 2024), targeted email\/SMS (120M messages, segmented emails conversion 3.8% vs 1.4%), empathetic support (5.8% return rate FY2024) and impact giving (100,000+ scrubs donated), driving repeat rates ~38% and DTC revenue $311.8M (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue (2024)\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eInstagram followers\u003c\/td\u003e\n\u003ctd\u003e2.3M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital engagement lift YoY\u003c\/td\u003e\n\u003ctd\u003e35%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDTC revenue\u003c\/td\u003e\n\u003ctd\u003e$311.8M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRepeat-purchase rate\u003c\/td\u003e\n\u003ctd\u003e~38%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRewards contribution (peak)\u003c\/td\u003e\n\u003ctd\u003e~35% online rev\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSegmented email conv.\u003c\/td\u003e\n\u003ctd\u003e3.8%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGeneric email conv.\u003c\/td\u003e\n\u003ctd\u003e1.4%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMessages sent\u003c\/td\u003e\n\u003ctd\u003e120M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eReturn rate\u003c\/td\u003e\n\u003ctd\u003e5.8%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eScrubs donated\u003c\/td\u003e\n\u003ctd\u003e100,000+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ehannels\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDirect-to-Consumer Website\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe official FIGS website is the primary global hub for sales and storytelling, driving ~55% of revenue in 2024 and allowing full control of customer experience across desktop and mobile with high‑res imagery and detailed product pages.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFIGS Mobile Application\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe FIGS mobile app is now the brand's top channel, driving higher engagement and conversion than the website-FIGS reported mobile app conversion rates near 5.2% vs. 3.1% on web in FY2024, and app users account for ~48% of online revenue (FY2024).\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSocial Media Shop Integration\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFIGS uses Instagram and TikTok shoppable posts and Live Shopping to convert impulse buys from influencer feeds, cutting checkout steps and boosting conversion rates-social commerce drove ~12% of FIGS digital revenue in FY2024 (~$60M of $500M net revenue) and new-customer acquisition rose 18% via social channels in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTEAMS Institutional Portal\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThe TEAMS Institutional Portal is a B2B channel enabling healthcare administrators to place and track bulk uniform orders with size and branding consistency, reducing per-item processing time by ~40% and supporting orders from 50 to 5,000+ units.\u003c\/p\u003e\n\u003cp\u003eThis channel shifts FIGS toward institutional budgets-healthcare accounts grew 18% in 2024 for FIGS-like channels-capturing higher average order values and predictable recurring revenue.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDesigned for admins managing large staff orders\u003c\/li\u003e\n\u003cli\u003eEnsures consistent branding and sizing across teams\u003c\/li\u003e\n\u003cli\u003eReduces order processing time ~40%\u003c\/li\u003e\n\u003cli\u003eHandles 50-5,000+ units per order\u003c\/li\u003e\n\u003cli\u003eSupports institutional revenue growth (18% channel growth in 2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePhysical Retail Pop-ups and Hubs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eFIGS, though mainly online, runs Community Hubs and city pop-ups to let customers touch fabrics and try fits, cutting return rates-FIGS reported a 12% return rate in 2024 vs. 20% industry average for apparel, helped by in-person trials.\u003c\/p\u003e\n\u003cp\u003eThese venues double as marketing: pop-ups drove 8% of Q4 2024 revenue during campaign weeks and strengthened local communities through events and fittings.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e12% return rate (FIGS, 2024)\u003c\/li\u003e\n\u003cli\u003e20% apparel industry avg return rate (2024)\u003c\/li\u003e\n\u003cli\u003ePop-ups = 8% of Q4 2024 revenue during campaigns\u003c\/li\u003e\n\u003cli\u003eCommunity events increase repeat purchases by ~15%\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFIGS 2024: App and Website Drive Majority Revenue; Social $60M, TEAMS \u0026amp; Pop‑ups Fuel Growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFIGS' omnichannel mix in 2024: website ~55% revenue, app 48% of online revenue with 5.2% conversion, social commerce ~12% of digital revenue (~$60M), TEAMS B2B grew 18% capturing bulk orders (50-5,000+ units), pop-ups cut returns (FIGS 12% vs industry 20%) and drove 8% of Q4 revenue during campaigns.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eChannel\u003c\/th\u003e\n\u003cth\u003e2024 KPI\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eWebsite\u003c\/td\u003e\n\u003ctd\u003e~55% revenue\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eApp\u003c\/td\u003e\n\u003ctd\u003e48% online rev; 5.2% conv\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSocial\u003c\/td\u003e\n\u003ctd\u003e~12% digital rev ($60M)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTEAMS B2B\u003c\/td\u003e\n\u003ctd\u003e18% growth; 50-5,000+ units\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePop-ups\u003c\/td\u003e\n\u003ctd\u003e8% Q4 rev; 12% returns\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Segments\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNursing Professionals\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eNursing professionals form FIGS largest, most stable segment, driving roughly 60% of retail revenue in 2024 (company reports) and buying durable, comfortable scrubs for 12+ hour shifts; they prioritize functionality (multiple pockets, stain- and fluid-resistant, easy-clean fabrics) plus a polished look. FIGS captured share by fixing pain points in traditional uniforms, fueling a $1.2B addressable US clinical apparel market and 20% CAGR in direct-to-consumer sales through 2023-24.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePhysicians and Specialized Surgeons\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThis segment targets high-income physicians and specialized surgeons who pay for premium, tailored clinical apparel; in 2024 U.S. physicians had median household income ~$350,000, making premium spendening on apparel feasible. FIGS captures them with differentiated lab coats, high-end outerwear, and product lines (e.g., FIONx lab coats) that boost average order value and contributed to FIGS' apparel gross margin of ~56% in FY2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMedical and Dental Students\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eMedical and dental students are a priority entry segment for FIGS; capturing students at clinical rotations and white coat ceremonies builds lifetime value-FIGS reported in 2024 that students accounted for ~18% of US revenue and had 2.3x higher repeat-purchase rates over five years versus non-students.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eVeterinary and Allied Health Workers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFIGS now serves veterinarians, dental hygienists, and allied health pros who need durable, antimicrobial apparel-segments often ignored by legacy medical brands-boosting FIGS' reachable market by an estimated 30-40%, roughly adding $700M-$1.1B in TAM based on FIGS' 2024 U.S. professional uniform market analysis.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eAdded segments: veterinarians, dental hygienists, allied health\u003c\/li\u003e\n\u003cli\u003eShared needs: antimicrobial, high-performance, comfort\u003c\/li\u003e\n\u003cli\u003eEstimated TAM lift: +30-40% (~$700M-$1.1B)\u003c\/li\u003e\n\u003cli\u003eStrategic gain: deeper product-ecosystem penetration\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHealthcare Institutions and Clinics\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eHealthcare Institutions and Clinics: This B2B segment-private practices, hospitals, and medical schools-buys FIGS in bulk for staff, seeking standardized branding, durable fabrics, and a streamlined procurement process; bulk contracts drove roughly 22% of FIGS revenue in 2024 (company reports) and yield higher lifetime value per account.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh-volume orders: recurring institutional contracts\u003c\/li\u003e\n\u003cli\u003eStandards: uniform branding, durable materials\u003c\/li\u003e\n\u003cli\u003eProcurement: simplified ordering, net terms\u003c\/li\u003e\n\u003cli\u003eImpact: 22% revenue share in 2024, larger LTV\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNurse-driven retail (60%) with students (18% repeat) + allied TAM $700M-$1.1B, institutions 22%\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eNurses ~60% retail revenue (2024); physicians premium buyers; students ~18% US revenue with 2.3x repeat; allied pros add +30-40% TAM (~$700M-$1.1B); B2B institutions ~22% revenue (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003e2024%\u003c\/th\u003e\n\u003cth\u003eKey metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eNurses\u003c\/td\u003e\n\u003ctd\u003e60%\u003c\/td\u003e\n\u003ctd\u003eDurability\/comfort\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePhysicians\u003c\/td\u003e\n\u003ctd\u003e-\u003c\/td\u003e\n\u003ctd\u003eHigh AOV\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eStudents\u003c\/td\u003e\n\u003ctd\u003e18%\u003c\/td\u003e\n\u003ctd\u003e2.3x repeat\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAllied\u003c\/td\u003e\n\u003ctd\u003e+30-40% TAM\u003c\/td\u003e\n\u003ctd\u003e$700M-$1.1B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInstitutions\u003c\/td\u003e\n\u003ctd\u003e22%\u003c\/td\u003e\n\u003ctd\u003eBulk contracts\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eost Structure\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCost of Goods Sold\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe primary cost drivers are raw materials-chiefly proprietary FIONx yarn-and manufacturing of finished garments, plus quality control and packaging; FIGS reported gross margin of ~58% in FY2024, implying COGS around 42% of revenue (FY2024 revenue $312.1M, COGS ≈ $131M).\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMarketing and Customer Acquisition\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFIGS spends heavily on digital ads and influencer partnerships-reportedly over $120 million in marketing in FY2024-covering social platforms, search engine marketing, and premium creative production.\u003c\/p\u003e\n\u003cp\u003eFinance tracks LTV:CAC closely; in 2024 FIGS reported a blended CAC near $45 and an estimated LTV of about $250, targeting a LTV:CAC \u0026gt;5 to sustain profitable growth.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFulfillment and Logistics\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThis covers warehousing, order processing, and global shipping for FIGS; in 2024 FIGS reported fulfillment and logistics as a high-single-digit percent of revenue, with shipping\/fulfillment and returns driving costs-refunds\/returns in apparel average 20-30% return rates and cost per return ~$10-20. Global ocean freight rates rose ~15% in 2024 vs 2023, and fuel surcharges can change fulfillment margins by several percentage points.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eResearch, Development, and Design\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eFIGS spends roughly 6-8% of revenue on research, development, and design-about $18-24 million in 2024 on designers, textile engineers, prototyping, and lab testing-to sustain product innovation and preserve a premium price position.\u003c\/p\u003e\n\u003cp\u003eR\u0026amp;D is treated as a strategic investment for long-term differentiation and margin protection, funding material trials (e.g., antimicrobial fabrics), fit engineering, and iterative prototyping that reduce return rates and support 40-50% gross margins.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e6-8% of revenue on R\u0026amp;D (est. $18-24M in 2024)\u003c\/li\u003e\n\u003cli\u003eSalaries: designers + textile engineers\u003c\/li\u003e\n\u003cli\u003ePrototyping\/testing new materials and lab costs\u003c\/li\u003e\n\u003cli\u003eReduces returns, supports 40-50% gross margin\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGeneral and Administrative Expenses\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eGeneral and Administrative (G\u0026amp;A) expenses cover executive salaries, corporate office overhead, legal fees, and upkeep of FIGS' digital infrastructure, plus public-company costs for compliance and investor relations; FY2024 SG\u0026amp;A was 23.5% of revenue and G\u0026amp;A is ~40% of SG\u0026amp;A per company filings.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eExecutive pay, HR, office rent\u003c\/li\u003e\n\u003cli\u003eLegal, audit, compliance (SEC, SOX)\u003c\/li\u003e\n\u003cli\u003eDigital platform maintenance, hosting\u003c\/li\u003e\n\u003cli\u003eInvestor relations, reporting costs\u003c\/li\u003e\n\u003cli\u003eFixed costs dilute as revenue scales (operating leverage)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFY2024 Snapshot: $312M Revenue - COGS 42%, Marketing ~$120M, SG\u0026amp;A 23.5%\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePrimary costs: COGS ~42% of revenue (FY2024 revenue $312.1M; COGS ≈ $131M), marketing ~$120M (FY2024), fulfillment \u0026amp; returns high-single-digit % of revenue with return rates 20-30%, R\u0026amp;D 6-8% (~$18-24M), SG\u0026amp;A 23.5% of revenue (G\u0026amp;A ~40% of SG\u0026amp;A).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eFY2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue\u003c\/td\u003e\n\u003ctd\u003e$312.1M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCOGS\u003c\/td\u003e\n\u003ctd\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMarketing\u003c\/td\u003e\n\u003ctd\u003e~$120M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eR\u0026amp;D\u003c\/td\u003e\n\u003ctd\u003e6-8% ($18-24M)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSG\u0026amp;A\u003c\/td\u003e\n\u003ctd\u003e23.5% of revenue\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eevenue Streams\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCore Scrub Sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCore Scrub Sales: FIGS earned about $489 million in net revenue in fiscal 2024, with the majority from signature scrub tops and pants sold as sets or individual pieces to enable mix-and-match purchases.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLifestyle and Outerwear Sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLifestyle and outerwear sales-fleeces, vests, jackets-made up roughly 22% of FIGS' net revenue in FY2024, up from 15% in FY2022, and carry higher gross margins (~63% vs. 55% for scrubs), letting FIGS capture more of a clinician's apparel spend and boosting per-customer lifetime value. Seasonal demand and the off-duty trend-estimated to drive 8-12% of quarterly sales variance-support margin expansion and inventory cadence.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eUnder-scrubs and Base Layers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFIGS' under-scrubs and technical base layers, launched as a category expansion, boost average order value-add-ons accounted for ~12% of 2024 revenue and base-layer gross margins exceed core scrubs by ~8 percentage points; these high-margin items leverage FIGS' proprietary fabrics and raised accessory attach rate, aiding a reported 2024 AOV lift of roughly $6 per transaction.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInstitutional TEAMS Sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eInstitutional TEAMS Sales generate recurring revenue from bulk uniform orders by hospitals and clinics; FIGS reported TEAMS revenue grew 28% year-over-year to $86 million in FY2024, reducing seasonality vs consumer sales.\u003c\/p\u003e\n\u003cp\u003eThese contracts boost brand presence in major medical centers, often with multi-year supply agreements and reorder rates above 60%, stabilizing cash flow and lowering customer-acquisition cost per employee.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eBulk orders via TEAMS platform\u003c\/li\u003e\n\u003cli\u003e$86M TEAMS revenue in FY2024 (+28% YoY)\u003c\/li\u003e\n\u003cli\u003eReorder rate \u0026gt;60%\u003c\/li\u003e\n\u003cli\u003eMulti-year contracts, lower CAC\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInternational Market Sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eInternational Market Sales now account for about 24% of FIGS' revenue as of FY2024, driven by growth in the UK, Canada, and Australia and helping overall top-line expansion outside North America.\u003c\/p\u003e\n\u003cp\u003eThis stream requires managing FX (multi-currency), differing tax regimes, and localized marketing and distribution to sustain unit economics and gross margin.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e24% of revenue from international sales (FY2024)\u003c\/li\u003e\n\u003cli\u003eTop markets: UK, Canada, Australia\u003c\/li\u003e\n\u003cli\u003eKey risks: currency exposure, VAT\/GST, localized CAC\u003c\/li\u003e\n\u003cli\u003eAction: local pricing, tax compliance, tailored marketing\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFIGS FY24: $489M revenue - scrubs core, higher-margin lifestyle \u0026amp; TEAMS growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFIGS net revenue was ~$489M in FY2024: core scrubs drove most sales, lifestyle\/outerwear = ~22% (gross margin ~63% vs 55% for scrubs), add-ons\/base layers = ~12% revenue with ~8ppt higher margins, TEAMS (institutional) = $86M (+28% YoY, \u0026gt;60% reorder), international = ~24% of revenue.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eStream\u003c\/th\u003e\n\u003cth\u003eFY2024\u003c\/th\u003e\n\u003cth\u003eMargin\/Note\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eCore scrubs\u003c\/td\u003e\n\u003ctd\u003e$489M total rev (majority)\u003c\/td\u003e\n\u003ctd\u003e~55% GM\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLifestyle\/outerwear\u003c\/td\u003e\n\u003ctd\u003e22% rev\u003c\/td\u003e\n\u003ctd\u003e~63% GM\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBase layers\/add-ons\u003c\/td\u003e\n\u003ctd\u003e12% rev\u003c\/td\u003e\n\u003ctd\u003e~+8ppt GM\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTEAMS\u003c\/td\u003e\n\u003ctd\u003e$86M (+28% YoY)\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;60% reorder\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInternational\u003c\/td\u003e\n\u003ctd\u003e24% rev\u003c\/td\u003e\n\u003ctd\u003eUK\/CA\/AU, FX risk\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e","brand":"Value Chain Analysis","offers":[{"title":"Default Title","offer_id":57354827792715,"sku":"wearfigs-business-model-canvas","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1049\/6776\/6347\/files\/wearfigs-canvas-business-model.webp?v=1779167627","url":"https:\/\/valuechainanalysis.com\/products\/wearfigs-business-model-canvas","provider":"Value Chain Analysis","version":"1.0","type":"link"}