Over the past ten years, a subtle fashion shift has occurred in the fluorescent-lit hallways of hospitals across the United States. Many of them no longer wear the loose, shapeless scrubs that typified the field for years, such as nurses adjusting IV lines, surgeons getting coffee in between shifts, and medical residents sprinting down cramped hallways. Rather, a startling number are wearing modern, form-fitting uniforms bearing the tiny FIGS logo.
The company’s rise appears nearly impossible at first glance. In the past, scrubs were a commodity that hospitals bought in large quantities without giving them much thought. However, FIGS managed to transform medical apparel into something more akin to athleisure. The speed at which that change occurred is difficult to ignore. The vibrancy of a fashion brand suddenly permeates what was once a boring uniform market.
| Category | Details |
|---|---|
| Company Name | FIGS |
| Founded | 2013 |
| Founders | Heather Hasson and Trina Spear |
| Headquarters | Santa Monica |
| Industry | Medical Apparel / Healthcare Uniforms |
| Market Focus | Healthcare professionals including doctors and nurses |
| IPO | 2021 on the New York Stock Exchange |
| Market Opportunity | Global medical apparel market estimated at $50+ billion |
| Business Model | Direct-to-consumer online apparel brand |
| Reference | https://www.nyse.com/quote/XNYS:FIGS |
The narrative starts in 2013 when Trina Spear and Heather Hasson decided that the industry should be treated better than rigid cotton uniforms. One had worked in retail. The other had experience in finance. The concept was straightforward but strangely disregarded: healthcare workers move, bend, and carry tools during extended shifts. In fact, their attire ought to assist them in doing so.
In hospital parking lots, early iterations of the product were allegedly sold out of a car’s trunk. There’s an almost romantic quality to those early tales that are currently making the rounds. Two founders have direct conversations with nurses, gather direct feedback, and make adjustments to the placement of pockets and fabrics. Investors like this type of origin story.
FIGS had already transformed a dormant area of the clothing industry into a rapidly expanding niche by the time it went public on the New York Stock Exchange in 2021. Sales had increased significantly, surpassing hundreds of millions of dollars. What’s more remarkable is that the business was profitable, which is uncommon in contemporary consumer IPOs.
A subtle tension arises when you spend a few minutes perusing financial forums or listening to analyst calls. The brand loyalty is admired by some investors. Healthcare professionals frequently use almost affectionate language when describing the products. Antimicrobial materials, cozy textiles, and well-placed pockets. During a twelve-hour hospital shift, little things matter.
Wall Street may have priced the business as though growth would be effortless for years. Although it makes sense, that assumption might be shaky. Trends in clothing can change rapidly. There are many brands in fashion history that appeared unstoppable until they weren’t.
One can still see the brand’s presence everywhere when strolling through hospitals in places like Chicago or Los Angeles. Scrub pants in a jogger style in navy blue. custom-made tops. The institutional greens of previous decades have been replaced by vibrant pastel colors. Just the visual shift implies that FIGS connected with something genuine.
The market for medical apparel is estimated to be worth over $50 billion worldwide, but when profits start to show, competition seldom stays silent. Manufacturers of traditional uniforms are refining their designs. Healthcare clothing is being experimented with by athletic brands. Hospital procurement departments are starting to engage in more aggressive price negotiations.
Optimists contend that FIGS has accomplished what businesses like Lululemon previously did: transforming a useful product into an identity. Wearing FIGS can feel more like professional gear than a uniform to healthcare workers, especially younger ones. The brand may be protected for a longer period of time than skeptics anticipate due to this psychological shift.
Doubts persist, though. As this develops, it seems like FIGS is in a precarious middle ground. Though priced by markets with a similar optimism, it’s not quite a luxury fashion brand. The company’s story could quickly shift if growth even slightly slows.
It’s possible that FIGS, the company that brought scrubs into the modern era, will emerge as the industry leader in the long run. Healthcare professionals’ loyalty indicates that the outcome isn’t implausible.
However, it’s also possible that the business is currently enjoying a moment of enthusiasm—an exceptionally favorable spotlight that public markets occasionally place on up-and-coming consumer brands.
Hospitals will continue to operate around the clock. Doctors and nurses will still need comfortable clothing for exhausting shifts. There is no end in sight to that underlying demand.
The real question is whether FIGS remains the brand they instinctively reach for—or whether competitors slowly chip away at the mystique that once made a pair of scrubs feel surprisingly special.
