What You Need to Know About FIGS, Which Just IPO'd
Unlike recent IPOs from high-profile companies like Coinbase or DoorDash, FIGS' (NYSE: FIGS) recent initial public offering has not caught the same level of financial media attention. The company, which went public on May 27, is a direct-to-consumer (DTC) start-up trying to shake up a historically stodgy industry: healthcare apparel.
Here's what investors need to know about FIGS.
Born on Shopify's (NYSE: SHOP) e-commerce platform, this female-founded and female-led company makes the vast majority of its revenue selling fitted uniforms (scrubs) and apparel for healthcare professionals through an almost entirely online marketplace (rather than through medical supply stores) to a growing cohort of loyal customers. FIGS has gained a reputation for the design, quality, and comfort of its products and for being able to drive word-of-mouth advertising by getting brand ambassadors to promote its products using social media channels like Facebook's Instagram.
Source Fool.com
