At first glance, Lululemon (NASDAQ: LULU) and Figs (NYSE: FIGS) might not have a lot in common. Lululemon sells high-end yoga apparel and activewear. Figs is a much smaller online retailer that specializes in fitted scrubs and other medical apparel for healthcare workers.
But when Figs went public last May, many analysts highlighted its similarities with Lululemon . Like Lululemon, Figs focused on a niche market that had been overlooked by larger apparel retailers . Both companies also initially targeted affluent female shoppers, and their sales were rising at high double-digit rates in an industry known for its anemic growth.
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More Likely to 5x First: Lululemon or Figs