FIGS: Trina Spear and Heather Hasson. The $2.5 Billion Scrubs Brand That Investors Said Would Never Work
FIGS co-founders Heather Hasson and Trina Spear share how they transformed medical apparel from uncomfortable, baggy uniforms into a multi-billion-dollar direct-to-consumer brand. They discuss selling scrubs out of a car trunk, overcoming hundreds of investor rejections, clearing their cap table with Thomas Tull, surviving a $40 million lawsuit from legacy competitors, and navigating extreme public market swings while keeping net worth separate from self-worth.
- In 2015, Vancouver-based Campfire Capital invested in FIGS and later attempted to remove co-founders Heather Hasson and Trina Spear from executive leadership. Read →
- Heather Hasson and Trina Spear pitched between 300 and 400 venture capitalists before finding investors who understood medical apparel. Read →
- Hasson first recognized the psychological weight of clothing while watching students in Kenya build confidence simply by wearing clean school uniforms. Read →
- Legacy scrub companies surrendered 60 percent of their sales price to retail distributors and 8 to 12 percent to licensing partners, starving their products of capital for fabric development. Read →
- Medical apparel incumbent Strategic Partners hit FIGS with an $800 million lawsuit claiming false advertising and stolen trade secrets. Read →