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Dive Brief:<\/h3>\nDive Insight:<\/h3>\n
Figs, which was founded 2013 and became popular for its scrubs, is expanding into medical devices through its collaboration with Eko Health.<\/p>\n
\u201cThis collaboration unites two companies that have reinvented two healthcare professionals\u2019 mainstays \u2014 scrubs and stethoscopes \u2014 through new technology, modern design and authentic connections with the healthcare community,\u201d <\/span><\/span><\/span><\/span><\/span><\/span><\/span>Figs co-founder and CEO Trina Spear said in<\/span><\/span><\/span><\/span><\/span><\/span> an email to Retail Dive. \u201cThrough this first-of-its-kind offering, Figs is able to add a critical medical instrument with unrivaled technology to its layering system, and Eko<\/span> is able to tap into Figs\u2019 <\/span><\/span><\/span><\/span><\/span><\/span><\/span>commitment to design, comfort and functionality, as well as its intensely loyal community of 2.5 million healthcare professionals<\/span><\/span><\/span><\/span><\/span><\/span>.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\nThe Figs Eko Core 500 is the only stethoscope with a full-color screen displaying heart rate and electrocardiogram tracing, according to the companies\u2019 announcement.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n\u201cWe are excited to bring this life-saving technolo<\/span><\/span><\/span><\/span><\/span><\/span><\/span>gy to the Figs healthcare community,\u201d Connor Landgraf, co-founder and CEO at Eko, said in a statement. \u201cFigs<\/span><\/span><\/span><\/span><\/span><\/span><\/span> has built an innovative brand and loyal community of healthcare professionals. Joining forces on the Figs | Eko Core 500 will support clinicians, advance the future of cardiovascular care, and benefit millions of patients.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\nThe announcement follows Figs\u2019 second-quarter earnings report in August where the brand\u2019s revenues increased 13% year over year to $138.1 million. Net income narrowed slightly to $4.6 million from $4.9 million in the same period of 2022. Figs\u2019 base of active customers increased 21% year over year to 2.5 million.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\nFigs was <\/span><\/span><\/span><\/span><\/span><\/span>faced with higher fulfillment expenses in Q2<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span> as a result of increased storage costs, according to the company\u2019s chief financial officer Daniella Turenshine. Spear expects those expenses will come down in the second half of the year as the company continues to move through excess inventory and make investments to improve fulfillment efficiency.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\nThe partnership between Figs and Eko<\/span><\/span> Health also comes as the scrubs space begins to attract more competition. DTC<\/span><\/span> activewear<\/span><\/span> brand <\/span><\/span><\/span><\/span><\/span><\/span>Fabletics launched its first scrubs collectio<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>n earlier this year.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n![\"Retail](\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\")
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