At first glance, Lululemon (NASDAQ: LULU) and Figs (NYSE: FIGS) might not have a lot in common. Lululemon sells high-end yoga apparel and activewear. Figs is a much smaller online retailer that specializes in fitted scrubs and other medical apparel for healthcare workers.

But when Figs went public last May, many analysts highlighted its similarities with Lululemon. Like Lululemon, Figs focused on a niche market that had been overlooked by larger apparel retailers. Both companies also initially targeted affluent female shoppers, and their sales were rising at high double-digit rates in an industry known for its anemic growth.

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Source Fool.com