FIGS (FIGS) TD Cowen’s 8th Annual Future of the Consumer Conference summary

Company culture and vision

• Emphasizes innovation and operational excellence, focusing on solutions for healthcare professionals.

• Aims to build an iconic global brand for the next 100 years, leading the $80 billion healthcare apparel industry.

• Advocates for healthcare professionals through marketing and legislative efforts, including the Awesome Humans Bill.

Market environment and growth drivers

• Inflation and post-COVID dynamics impact customers, most of whom earn under $100,000.

• Healthcare jobs are the fastest-growing segment, expected to account for 45% of job gains over the next decade.

• January saw 70,000 new healthcare jobs, up from a 58,000 monthly average last year.

Expansion and customer acquisition

• Growth in wellness, concierge medicine, and student segments, with the wellness industry projected to double to $15 billion by 2032.

• Teams business partners with institutions to outfit and brand healthcare staff; student initiatives target early-career professionals.

• Lifetime value of a healthcare worker can reach tens of thousands of dollars over a 35-40 year career.