The success story of FIGS One of the vision, the dedication of the co-founders
Working in a hospital is hard work. But it’s safer and easier with the right personal protective equipment, including uniforms.
FIGS is a company that manufactures stylish, durable and comfortable scrubs for people working in the health field. It was co-founded by Trina Spear and Heather Hasson, who are now co-CEOs.
Driven by their personal motivation, their entrepreneurial vision and their determination to provide quality products and disrupt an industry, FIGS has developed its activities in a sustainable way that both gives back and pays within the healthcare sector.
Spear and Hasson capture the heart of this contractor, an ADM that focuses on women entrepreneurs, is all about.
FIGS grows through hard work and dedication
FIGS was founded on the belief that uniforms should be made with ‘technical comfort’ or ‘the belief that design, comfort and function are not negotiable – during and outside working hours’, according to the FIGS website.
The company was born when Hasson recognized the disparity between the quality of uniforms offered to professional athletes and what was offered to professionals working in the field of life-saving healthcare.
With her background in fashion, she wanted to revolutionize the industry and provide quality scrubs for healthcare. She teamed up with Spear, who worked on Wall Street at the time, to bring the vision to life.
To give their start-up its initial inflow of capital, Spear cashed in its 401k.
Fast forward to May, when FIGS staged a successful IPO for a valuation of $ 4.57 billion, according to Reuters. The company has partnered with Robinhood on the business.
“We were very focused on the IPO the traditional way… and we even partnered with Robinhood because we wanted to give medical professionals access to invest in the IPO,” said the co-founder Trina Spear in an interview with Reuters.
Led by the entrepreneurial vision of Spear and Hasson, FIGS has weathered the Covid-19 pandemic with great success, pivoting to also provide masks and face shields in addition to their much requested scrubs.
Fundamentals are what matters
Discussing the challenges of being a female entrepreneur in an interview with Contractor, Spears candidly admits that she thinks entrepreneurship is always easier for men, but “as a female entrepreneur you can’t think about it.”
“There’s no way you can use that as a reason why you may or may not be successful – when fundraising or anything in life. So my advice is to put that aside because you can always learn something from a meeting whether someone has a bias against you or not, ”she explained.
Hasson, in an interview with Women in Retail, explains the core belief in the importance of diversity of viewpoints within FIGS in the Tuesday Talks the company practices: “Every Tuesday we have inspiring discussions about what is happening in the month or week. . The whole company is talking. We have different topics and different speakers are coming. We do these interviews because it is so important to always have different perspectives.
FIGS remains focused on its core values of giving back to the healthcare community. The company has a Threads for Threads initiative that donates scrubs to healthcare professionals working in countries with fewer healthcare workforce resources.
In addition to donating scrubs, Spear and Hasson also travel around the world, working with organizations like Awesome Humans to provide free medical care in countries like India and Peru.
Investing in women with entrepreneura
It’s by focusing on building a business from the ground up with sustainable and diverse practices, creating disruption within industries, and focusing on building communities that women-led businesses entrepreneurs, such as FIGS, are increasingly successful in a historically male field. – dominated space.
contractor is an SMA that allows investors to follow a strategy aligned with their own values. He recognizes that women-led businesses often behave differently and succeed better than their male counterparts, especially when guided by female leaders since their inception, as they tend to follow holistic and sustainable approaches to leadership.
For more news, information and strategy, visit the website ETF Entrepreneur channel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.