FIGS Releases Its 2023 Impact Report

FIGS, Inc. (NYSE: FIGS), the global leading healthcare apparel brand dedicated to improving the lives of healthcare professionals, today released its 2023 Impact Report. The full FIGS 2023 Impact Report is available at wearfigs.com/impactreport and provides a comprehensive view into FIGS’ efforts to positively impact healthcare professionals.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240401113316/en/

FIGS Releases 2023 Impact Report (Graphic: Business Wire)

“Since day one, FIGS has been on a mission to improve the lives of healthcare workers globally,” said Trina Spear, Chief Executive Officer and Co-Founder. “With every year that passes, our commitment to making tangible change deepens. 2023 was an incredible year during which many ideas, years in the making, came to fruition. From opening our Operating Theatre in Kenya to our progress on Advocacy, 2023 was a year in which we saw the impact that hard work can yield — and we can’t wait for more. Creating impact for our Awesome Humans, along with all of our stakeholders, is why we started FIGS and it’s what still drives us today.”

Highlights of the FIGS 2023 Impact Report include:

• Giving Back
  • FIGS donated almost $600,000 to 17 organizations. This included:
    • The final installment of our $500,000 donation to complete the FIGS Operating Theatre, which is now open in rural Kenya and is improving healthcare for 500,000 people in the surrounding area;
    • $100,000 to the SparkReach Leadership Institute, which we have partnered with to provide mentoring and wellbeing leadership programs for healthcare workers;
    • $50,000 in honor of Black History Month to the Student National Medical Association, the leading national non-profit supporting minority and underrepresented medical students;
    • $50,000 to F*ck Cancer, a non-profit focused on prevention, early detection, and other support for those impacted by cancer;
    • $40,000 to support healthcare workers in Israel and Gaza; and
    • $25,000 to the Maui Health Foundation’s Employee Assistance Fund to directly assist the healthcare workers whose lives were impacted by the fires.
  • Additionally, FIGS donated 282,371 units of FIGS to 24 organizations in about 30 countries to provide scrubs and other products to those in need.

• Advocacy
  • FIGS significantly enhanced its Awesome Humans Bill platform and continued to lobby for the policies that embody it;
  • FIGS created a first-of-its-kind Advocacy Hub to build one of the largest bases of grassroots support for the policies it is advocating for; and
  • FIGS, in partnership with the Dr. Lorna Breen Heroes’ Foundation, has been going state by state aiming to change nursing licensure and credentialing questions that stigmatize or penalize those who seek mental health support.

• Fostering a Culture of Diversity, Equity, Inclusion, and Belonging
  • Approximately 69% of the FIGS team identifies as female, non-binary, or agender, and approximately 60% identifies as members of underrepresented racial or ethnic groups.
  • Approximately 58% of the FIGS executive team are female, including FIGS’ CEO.

• Commitment to Sustainability and Supply Chain
  • All FIGS Tier I suppliers must be certified through the Worldwide Responsible Accredited Production program to help ensure high quality, ethical and sustainable practices, and all Tier II suppliers are held to substantially the same standards, with regular auditing performed.
  • FIGS is targeting to:
    • Reduce greenhouse gas emissions by 50% by 2030;
    • Have at least 75% of its scrub fabric be comprised of recycled and upcycled materials by 2030;
    • Have 100% of its apparel compliant with OEKO-TEX 100 by 2026;
    • Reduce virgin plastic used in its products by 50% by 2030; and
    • Reduce the amount of water used in fabric production by 30% by 2030.

Forward-Looking Statements