FIGS (FIGS) Oppenheimer's 24th Annual Virtual Consumer Growth and E-Commerce Conference summary

Macro and industry trends

• Healthcare is the fastest-growing job segment over the next decade, providing a stable and expanding customer base.

• Healthcare is becoming more consumerized and personalized, with growth in concierge medicine and wellness.

• Two-thirds of the customer base earns less than $100,000, making them sensitive to inflation and interest rates.

Sales trends and marketing initiatives

• Recent sales trends are stabilizing, with normalization of repeat purchase frequency post-COVID.

• Product innovation and impactful storytelling are driving customer engagement and repeat purchases.

• New partnership as the official outfitter for Team USA's medical team at the Paris 2024 Olympics is expected to boost brand awareness.

• Top-of-funnel marketing is prioritized to drive long-term customer value and brand growth.

Product innovation and diversification

• Recent launches include Six-Pocket Scrub Legging, Sherpa Bomber, Indestructible fabric, and Cargo Scrub, expanding the product range.

• Over 20% of sales now come from non-scrub products, with high attachment rates among existing customers.

• Color remains a key driver, but innovation and new categories are increasingly important.

• The company is now a diversified global brand, operating in 33 countries and expanding across channels.