Figs Opens Physical Store – Los Angeles Business Journal

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Nursing student Cindy Brown She found the first pair of cleaners Fig. Inc. website about two years ago, inspired by the buzz surrounding the Santa Monica-based healthcare apparel company.

“I was jumping on the bandwagon at first, but now I’m really into them,” Brown said as he surveyed the shelves at the company’s first store, which opened Nov. 2 at the Westfield Century City shopping center.

While fig scrubs are comfortable and long-lasting, she found that “size is not consistent in styling,” which makes shopping online a bit difficult.

“When I buy my Kasama top, it’s smaller than the Katarina top,” Brown says, referring to the scrubs that Fig offers. “When I buy them, I want to wear them; I don’t want to send them back.”

In addition to size, she also wanted clothes made of waterproof material.

“I’ve heard they’re a bit noisy, so I want to see how they feel and how they sound,” she said.

Catherine Spear

Shopping at a store called Fig Community Center has brought peace of mind to Brown. But the CEO Catherine Spear He sees the company’s move into a physical retail space as something a little different: an opportunity to strengthen its relationship with its fans and bolster its bottom line along the way.

“Stores are great in terms of growth, but they’re also great for brand awareness. It’s basically like a profitable billboard,” Spear said.

No mass?

Spear co-founded fig Heather Hasson In the year As of 2013, the digital native brand has approximately 360 employees and outsources its clothing manufacturing operations to factories in Southeast Asia, China, and South America. It has a market cap of about $1.15 billion and reported net income of $6.1 million on revenue of $142 million last quarter.

Fig broke into the brick-and-mortar space five years ago, popping up briefly on Melrose Street in Beverly Grove, then another in New York’s Soho. The Century City store is the company’s first multi-year lease. It is located at a close distance Cedars-Sinai Medical Center, St. John’s Health Center And “all Beverly Hills medical offices,” Spar said another store near Philadelphia’s major medical centers is also in the works and will open early next year.

She declined to give details about the full retail rollout, but hinted that more will come if the two stores are successful.

“We’re doubling down on the good stuff,” Speer said.

The company is prioritizing maintaining control over its brand message, so the rollout does not involve traditional mass channels.

“We’ve done a good job of making sure the (shopping) experience is elevated … the way of figs,” she said. “When you sell wholesale, you’re saying, ‘Hey, somebody else, I’ll manage the marketing, the merchandise, the look and feel of my brand.’ You are giving that to someone else. We think the best way is to control the experience, to do as much as we can.

Spar adds that a typical consumer doesn’t shop for junk, which makes it difficult to match them with the right wholesaler.

“The health care profession is flawed,” she said. “If you walk into Target or Nordstrom and see a fig, ‘What’s this doing here?’ There really isn’t that natural wholesale partner.

While a presence in big box stores may not be ideal, Spar said opening Fig stores near hospitals or universities is something the company is considering down the line.

“I think (for) a shop-within-a-shop … like a little fig shop in a college bookstore, or even in hospitals,” she said. “They have[gift shops]where you can find balloons and bunnies, so why not have a craft store? We are a staff store.

Fig. Chief Business Development Officer Devon DiegoHe joined the brand seven years ago and served as the company’s chief operating officer until May, leading its retail launch.

“Retail and community centers are one of our key growth partners, so she’s moved to oversee all the drivers of our growth. She has an operational background, and she understands leasing and construction, as well as the brand,” Speer said.

Retail travel

Shopping: Cindy Brown tries on shoes at the Fig Shop. (Photo by MF DiMartino)

Figs is one of several well-known digitally native brands that have invested in brick-and-mortar stores, a group that includes clothing designers. Everlanean eye brand Warby ParkerThe sneaker company All birds and bedding brand Parachute.

“We could have done this or started doing this three or more years ago, but the pandemic hit,” Spear said, adding that figs have “helped create a wonderful community of health care professionals.” Buy only at Shola stores, but to use as collection points.

“We’re going to have events … speaker series (and) all kinds of ways to connect the community around yoga, around meditation, around mental health, around whatever you think,” she said.

“If tomorrow (you) start a brand and open a store, no one will know who you are, it’s very difficult. But we have this ability now because we are a digital brand, we have built it for 10 years, now is the time. We will open more stores, community centers,” she added.

Opportunities

Store: Scripts will be on display at the new Fig Shop in Century City. (Photo by MF DiMartino)

Another benefit of offering an in-person shopping experience is an increase in average order value. Consumers walk through the store looking for specific items, but often leave with additional merchandise such as socks, sweaters, or underwear.

“You see all these things, so you buy more,” Spear said. “You will also buy more or be more loyal to a brand that has a digital brand and accumulates 40% higher loyalty.”

On the subject Princess Lucio, Who stopped by the Fig Shop for a pair of clearance but checked out their rompers and shoes.

“I love how comfortable they are,” she said, adding that she’s spent at least $1,000 on Fig merchandise since being introduced to the brand by one of her teachers last year. UCLA, Stephanie BeggsWho with educational content, posts about figs on Instagram.

The company seems to be counting on the same word of mouth to continue expanding globally. Figs posted an 81 percent increase in global revenue in the third quarter, driven by long-running markets in Canada, the United Kingdom and Australia, as well as Poland, Kuwait and Singapore.

“I think what we’ve done is we’ve built a digital marketing engine … and we’ve built a network of ambassadors … across the country who are the most influential people in healthcare who represent our brand, so we’re replicating (that strategy) globally,” he said. Oh, we go into hospitals and then they go…’ No, that doesn’t work. Direct-to-consumer is our North Star.



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