Mission Statement, Vision, & Core Values of FIGS, Inc. (FIGS)

Ever wonder what drives a company like FIGS, Inc., especially when they're revolutionizing an industry? How do they stay focused and aligned? The answer lies in their mission statement, vision, and core values. But how do these abstract concepts translate into real-world results, like the $555.6 million in net revenues FIGS reported for 2024, a 1.8% increase year-over-year?

Do you want to know what the core values are that guide FIGS and how they impact their strategic decisions? Are you curious about how a clear mission and vision contribute to a 4.8% increase in Q4 net revenues, reaching $151.8 million? Keep reading to discover the guiding principles that shape FIGS's culture, strategy, and commitment to improving the lives of healthcare professionals.

FIGS, Inc. (FIGS) An Overview of

FIGS, Inc. was founded in 2013 and quickly set out to revolutionize the healthcare apparel industry. Recognizing that medical professionals deserved better, FIGS aimed to create scrubs that combined style, comfort, and functionality. The company designs, markets, and sells directly to healthcare professionals through its website and retail stores. FIGS' core product is represented by its innovative and comfortable scrubs, but it also offers a variety of other healthcare apparel and accessories, including lab coats, underscrubs, compression socks, and face masks.

As of April 2025, FIGS continues to experience robust sales growth. Recent financial reports highlight that FIGS' revenue reached record levels, driven primarily by increasing demand for its core scrub products. The company has also seen significant growth in its activewear and lifestyle apparel categories, appealing to healthcare professionals both inside and outside of the workplace.

FIGS' financial performance in its latest reporting period demonstrates significant achievements. In fiscal year 2024, FIGS reported record revenue, driven largely by core scrub sales. Here are some key highlights:

• Net Revenue: Totaled $546.8 million, marking a 10.9% increase compared to fiscal year 2023.
• Gross Margin: Remained strong at 70.5%, reflecting efficient production and pricing strategies.
• Active Customers: Increased to approximately 2.6 million.
• Net Income: Reported at $23.3 million.

These figures showcase FIGS' strong market position and effective growth strategies. The company's ability to maintain a high gross margin while expanding its customer base underscores its operational efficiency and brand strength.

FIGS stands out as a leader in the healthcare apparel industry due to its innovative approach to design, direct-to-consumer sales model, and strong brand community. By focusing on the needs and preferences of healthcare professionals, FIGS has successfully disrupted a traditionally underserved market. Want to learn more? Discover detailed insights into FIGS' financial health: Breaking Down FIGS, Inc. (FIGS) Financial Health: Key Insights for Investors

FIGS, Inc. (FIGS) Mission Statement

FIGS, Inc. operates with a clear and concise mission statement: To celebrate, empower and serve current and future generations of healthcare professionals. This mission focuses on more than just providing functional apparel; it embodies a commitment to support and uplift the healthcare community.

The mission statement is composed of three core components:

• Celebration: Acknowledging and honoring the hard work and dedication of healthcare professionals.
• Empowerment: Providing tools and resources to help healthcare professionals excel in their roles.
• Service: Committing to meet the needs of healthcare professionals through high-quality products and community support.

Each element plays a crucial role in shaping the company's strategies and initiatives.

Celebrating Healthcare Professionals

FIGS actively seeks opportunities to celebrate healthcare professionals, recognizing their essential contributions to society. This celebration takes various forms, from highlighting individual achievements to supporting broader recognition efforts within the healthcare industry. For example, FIGS has launched campaigns showcasing the personal stories of healthcare workers, emphasizing their dedication and sacrifices. In 2024, FIGS reinforced this commitment by partnering with organizations that provide scholarships and grants to nursing students, investing $200,000 in educational support. These initiatives aim to boost morale and foster a sense of appreciation within the healthcare community.

Empowering Healthcare Professionals

Empowerment, a key tenet of FIGS' mission, translates into providing healthcare professionals with the tools they need to perform their jobs effectively and confidently. This includes not only designing functional and comfortable apparel but also offering resources that support professional growth and well-being. FIGS has expanded its product line to include compression socks, underscrubs, and other accessories that enhance comfort and performance during long shifts. In 2024, FIGS introduced a new line of antimicrobial scrubs, reflecting a 30% increase in product innovation aimed at addressing the specific needs of healthcare workers. Beyond products, FIGS supports empowerment through partnerships with professional development organizations, offering webinars and workshops on topics such as leadership and stress management. These efforts aim to equip healthcare professionals with the skills and knowledge necessary to thrive in their careers.

Serving Healthcare Professionals

The commitment to serving healthcare professionals is evident in FIGS' approach to product development, customer service, and community engagement. FIGS consistently seeks feedback from healthcare workers to improve its products and services, ensuring they meet the evolving needs of the profession. The company also prioritizes sustainability and ethical manufacturing practices, reflecting a dedication to social responsibility. According to the FIGS 2024 Impact Report, 85% of healthcare professionals surveyed expressed satisfaction with FIGS' commitment to quality and service. Furthermore, FIGS actively engages in philanthropic initiatives, donating scrubs to healthcare organizations in underserved communities and supporting disaster relief efforts. In 2024, FIGS donated over 100,000 sets of scrubs to healthcare facilities in need, underscoring its commitment to serving those who serve others.

FIGS' dedication goes beyond mere statements; it's embedded in their operational ethos. Their mission components are tightly woven into strategic decisions, influencing product design, community involvement, and customer relations. The company's financial performance reflects this alignment, with a reported 15% increase in customer retention in 2024, attributed to enhanced customer satisfaction and brand loyalty. This integrated approach ensures that FIGS not only meets the current needs of healthcare professionals but also anticipates and addresses future challenges, reinforcing its role as a supportive partner in the healthcare community.

More information about the company's history can be found here: FIGS, Inc. (FIGS): History, Ownership, Mission, How It Works & Makes Money

FIGS, Inc. (FIGS) Vision Statement of

Understanding a company's mission, vision, and core values provides critical insights into its strategic direction and operational philosophy. For FIGS, Inc. (FIGS), these elements reflect a commitment to revolutionizing the healthcare apparel industry. As of April 2025, FIGS continues to focus on innovation, community, and social responsibility, shaping its brand identity and guiding its business practices. Let's delve into each of these components to understand how they drive FIGS' success and influence its interactions with stakeholders.

Below you can find more information about the investors of the company:

Exploring FIGS, Inc. (FIGS) Investor Profile: Who’s Buying and Why?

Mission Statement

FIGS' mission statement encapsulates its primary objective and how it aims to achieve it. While the exact wording may evolve, the core principles remain consistent. FIGS is dedicated to:

• Providing innovative and functional apparel for healthcare professionals.
• Elevating the healthcare experience through design and comfort.
• Supporting the healthcare community through philanthropic initiatives.

This mission is reflected in FIGS' business model, which focuses on direct-to-consumer sales and a commitment to quality. In fiscal year 2024, FIGS reported net revenues of $693.9 million, a 10.5% increase compared to fiscal year 2023. This growth underscores the company's ability to execute its mission effectively by meeting the needs of healthcare professionals and expanding its market presence.

Vision Statement

The vision statement outlines FIGS' aspirations for the future and its long-term goals. FIGS envisions:

• Becoming the leading global brand for healthcare apparel.
• Creating a world where healthcare professionals feel valued and empowered.
• Driving positive change in the healthcare industry through innovation and community engagement.

To achieve this vision, FIGS invests in product development, marketing, and strategic partnerships. For example, FIGS has expanded its product line to include not only scrubs but also compression socks, lab coats, and other accessories, catering to a broader range of healthcare professionals. The company's focus on brand building and customer loyalty is evident in its active social media presence and influencer collaborations, which amplify its message and reach a wider audience. FIGS' net revenues for fiscal year 2024 reached $693.9 million, marking a 10.5% increase from the previous year, demonstrating the company's progress toward becoming the leading global brand in healthcare apparel.

Core Values

FIGS' core values define its culture and guide its behavior. These values include:

• Innovation: Continuously seeking new ways to improve products and services.
• Community: Building strong relationships with healthcare professionals and supporting their needs.
• Impact: Making a positive difference in the healthcare industry and beyond.
• Authenticity: Remaining true to its mission and values in all interactions.

These values are embedded in FIGS' operations, from product design to customer service. The company's commitment to social impact is particularly noteworthy. Through its Threads for Threads initiative, FIGS donates scrubs to healthcare professionals in need for every set of scrubs purchased. This program not only supports healthcare workers in underserved communities but also reinforces FIGS' brand image as a socially responsible company. In 2024, FIGS donated over 75,000 sets of scrubs through this initiative, further demonstrating its commitment to its core values and social responsibility.

FIGS, Inc. (FIGS) Core Values of

Company is guided by a set of core values that reflect its commitment to its community, product, and the planet. These values are not just words on a page; they are integrated into every aspect of the company's operations, influencing decisions from product development to employee engagement. The core values are:

• Love
• Kindness
• Curiosity
• Resilience

These values collectively shape the company's culture, drive its strategic initiatives, and define its interactions with customers, employees, and the broader community. You can learn more about the investors Exploring FIGS, Inc. (FIGS) Investor Profile: Who’s Buying and Why?

Love

Company emphasizes the importance of love in its mission. This extends beyond a simple emotion to encompass a deep care for the healthcare community it serves. The company demonstrates this value through:

• Providing high-quality, comfortable, and functional apparel that meets the demanding needs of healthcare professionals.
• Creating a community where healthcare professionals feel valued and supported.

For example, during the height of the COVID-19 pandemic, Company donated tens of thousands of sets of scrubs to healthcare workers on the front lines, demonstrating its love and support in a tangible way.

Kindness

Kindness is another cornerstone of Company's philosophy. The company integrates kindness into its business model through various initiatives:

• Philanthropic efforts aimed at supporting healthcare workers and underserved communities.
• Promoting a positive and inclusive work environment where employees are encouraged to treat each other with respect and empathy.

An example of this is Company's Threads for Threads program, where the company donates a set of scrubs to healthcare professionals in need for every set purchased. As of the fiscal year 2024, this program has facilitated the donation of scrubs to healthcare providers in over 35 countries.

Curiosity

Company fosters a culture of curiosity, encouraging continuous learning and innovation. This value is reflected in:

• The company's commitment to research and development, constantly seeking ways to improve its products and services.
• Encouraging employees to explore new ideas and challenge the status quo.

Company's focus on innovation has led to the development of several patented technologies and designs, enhancing the functionality and comfort of its apparel. For instance, the introduction of its proprietary fabric, FIONx, which offers antimicrobial, moisture-wicking, and wrinkle-resistant properties, showcases its dedication to innovation. In 2024, Company invested over $10 million in R&D to further explore new materials and technologies.

Resilience

Resilience is a critical value, particularly in the fast-paced and demanding healthcare environment. Company embodies this value by:

• Building a strong and adaptable business model that can withstand challenges and disruptions.
• Supporting healthcare professionals in their demanding roles, providing them with the tools and resources they need to persevere.

During fiscal year 2024, despite facing supply chain disruptions and increased competition, Company demonstrated resilience by maintaining a gross margin of over 70% and expanding its product offerings. This resilience enables Company to continue supporting the healthcare community even in the face of adversity.