FIGS, Inc., a California-based healthcare apparel and lifestyle brand, launched its first permanent physical retail space, referred to as a “Community Hub,” on 3 November 2023.
This initiative marks a significant expansion for the company, which has primarily operated as a digital brand generating over $500m in net revenues in 2022.
The decision to venture into brick-and-mortar retail is in response to a growing demand from its community to experience FIGS both online and in-person.
Community Hubs aim to strengthen connections
The primary objective of FIGS’ Community Hubs is to foster deeper connections within the FIGS community and highlight healthcare professionals.
For the first time, healthcare professionals will have access to a premium store tailored to their needs, aiming to create a more personalised shopping experience.
Additionally, these hubs offer the potential for increased revenue for FIGS, as customers who shop through multiple channels have historically contributed more to the company’s revenue compared to digital-only customers.
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Los Angeles chosen as the inaugural location
FIGS selected the Century City Mall in Los Angeles as the location for its first Community Hub, one of the company’s largest markets.
This mall, with an annual foot traffic of approximately 20 million people, is home to five healthcare clinics among its tenants and is situated within ten miles of six major healthcare institutions.
The choice of Los Angeles holds special significance for FIGS as it is the city where the company was founded.
Community Hubs – more than just retail spaces
FIGS’ Community Hubs are designed to provide a holistic experience for healthcare professionals. In addition to enabling healthcare workers to try on and purchase FIGS products, these hubs serve as spaces for connecting with peers and engaging with the broader FIGS community.
The locations will host events celebrating healthcare professionals, offer programming on issues affecting them, and create opportunities for networking and sharing experiences.
Philadelphia next on the list
FIGS plans to take a strategic approach to its retail expansion, selecting markets with a high concentration of healthcare professionals.
The company has announced its next Community Hub is set to open in the first half of 2024 in Philadelphia’s Rittenhouse Square, a location within close proximity to five healthcare institutions.
Philadelphia ranks as the fourth city in the US with the highest number of healthcare professionals, making it a strategic choice for FIGS’ retail expansion.