FIGS picks Los Angeles as it makes move into physical retail with opening of first community hub
FIGS, a direct-to-consumer healthcare apparel and lifestyle brand, reports that its first permanent physical retail space - its Community Hub - officially opened on 3rd November.
FIGS generated more than $500 million in net revenues in 2022, almost exclusively online.
By expanding into physical retail, its says that it is responding to “the overwhelming desire of its community to experience FIGS both online and in-person, as seen through the strong reaction to our retail pop-ups and other community activations”.
A key aim is to drive increased revenues across the entire platform, particularly since those who shop across multiple channels typically generate significantly more revenue than digital only customers.
The first one has opened at the Century City Mall in the heart of Los Angeles – one of FIGS’ largest markets.
The mall has annual foot traffic of approximately 20 million people, counts five healthcare clinics among its tenants and is located within ten miles of six major healthcare institutions.
“We could not be more excited to open our first Community Hub, and to do it in Los Angeles, where FIGS was founded,” says Trina Spear, FIGS’ CEO and Co-Founder.
“Our Community Hub is a space for our ‘Awesome Humans’ to not only experience our products in person, but to gather, share knowledge and provide support to one another. FIGS was the first to create an e-commerce experience for our Awesome Humans, and we are thrilled to now give them a first of its kind retail experience.”
The Community Hubs not only enable healthcare professionals to feel, try on and buy their favuorite FIGS products, they allow them to connect with one another and engage more fully with the brand’s community.
These locations will also host events to celebrate healthcare professionals, provide programming on important issues that impact them, and create opportunities to network and share their stories.
FIGS says that it intends to take “a disciplined approach with its retail strategy, choosing markets with a high density of healthcare professionals”.
The company plans to open its next Community Hub in the first half of 2024 in Philadelphia’s Rittenhouse Square, which is located within two miles of five healthcare institutions.
Philadelphia has the fourth highest number of healthcare professionals in the US, and one in every six doctors in the US has been trained there.
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