- Figs, Inc. founded by its co-CEO's in 2013 and grew revenues to $100 million by 2019 and $420 million by 2021.
- This impressive growth has been driven by a deeply loyal community of nearly 2 million active customers.
- Despite this impressive growth, management believes that FIGS is still in early innings.
- As the business scales, I believe that EBIT margins could eventually exceed 30%, meaning FIGS stock currently trades at a low 20's multiple of normalized earnings.
For further details see:
1 Main Capital Partners - Figs, Inc: Impressive Growth Driven By A Deeply Loyal Community