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The Inspiring Founding Journey of Figs - Revolutionizing Medical Apparel
The Inspiring Founding Journey of Figs - Revolutionizing Medical Apparel
This is the New Money Talks Newsletter, packed with entrepreneurs’ personal stories, real estate investing, financial tips, and more! All in three sections!
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In today's newsletter, we're diving into the incredible story of Figs, a company that has revolutionized the world of medical apparel.
The Beginning
In 2013, Heather Hasson was catching up with a friend - a nurse practitioner. During their conversation, the friend mentioned her frustration at the uncomfortable and unflattering scrubs she had to wear daily. Heather, who had an entrepreneurial spirit and background in fashion, saw an opportunity. She didn't just see a product that needed improvement; she saw a way to impact an industry that touches nearly everyone's lives.
Together with Trina Spear, a former investment banker, they launched Figs, intending to transform the medical apparel industry. They focused on quality, comfort, and style - something the market lacked.
The Revolution
Figs took off because of its commitment to these values. The duo didn't just redesign scrubs; they reimagined them. They introduced a range of colors and styles, ensuring every healthcare professional could find something that suited their personal style while maintaining the professionalism required by their roles.
Philanthropy at its Core
What set Figs apart was its commitment to a larger cause. With their 'Threads for Threads' initiative, they donate a set of scrubs to healthcare providers in need for every set sold. This socially conscious business model has endeared Figs to the healthcare community and consumers.
The Billion-Dollar Success
Through hard work, innovation, and a keen understanding of their market, Hasson and Spear turned Figs into a billion-dollar business. In 2021, Figs went public, making Hasson and Spear two of the few self-made female billionaires in America.
Lessons Learned
The story of Figs serves as an important reminder to all entrepreneurs. It shows us that every industry, no matter how traditional, has room for innovation and improvement. It also emphasizes the importance of aligning your business with a cause larger than itself, something that resonates with today's consumers.
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Tweet of the Day
Entrepreneurship is hard.
But I could never do anything else.
I remember the exact moment when this was clear to me.
Here is the story👇🏽👇🏽👇🏽
— Jesse Pujji (@jspujji)
5:43 PM • Dec 26, 2021
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