Will FIGS' (FIGS) Olympic Partnership and Fabric Launch Strengthen Its Premium Brand Narrative?

• FIGS announced that its partnership with Team USA will now include outfitting over 150 healthcare professionals at the upcoming Milano Cortina 2026 Olympic and Paralympic Winter Games, marking the first time Team USA’s medical team will be formally outfitted at a Winter Games.
• This collaboration also introduces FIGS’ new FIBREx fabric, blending durability and design, which debuts in the custom Team USA Medical Team kit and signals an emphasis on product innovation for healthcare professionals globally.
• We'll assess how FIGS' expanded Olympic partnership and new FIBREx fabric innovation shape the company's overall investment narrative.

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FIGS Investment Narrative Recap

At its core, the FIGS investment story hinges on whether ongoing product innovation and brand partnerships can offset pressures from tariffs and slower customer growth. The recent Team USA Olympic announcement, highlighting both expanded international visibility and the launch of the FIBREx fabric, may support brand positioning, but is not likely to immediately impact the most important near-term catalyst: baseline demand rebound amid reduced promotional activity. The biggest risk remains pressure on gross margins tied to persistent tariff headwinds in key sourcing countries; this news does not materially change that risk in the short term.

The most relevant recent announcement is FIGS’ expansion of international markets, including launches in Japan, South Korea, and Latin America. These actions align with longer-term catalysts by aiming to diversify revenues and support top-line growth beyond the U.S., though the Olympic partnership’s immediate influence on these initiatives is limited and any resulting uplift for demand is likely to be gradual.

However, investors should be aware that while product innovation can support growth, persistent cost pressures from tariffs could still...

Read the full narrative on FIGS (it's free!)

FIGS' outlook anticipates $656.8 million in revenue and $37.0 million in earnings by 2028. This projection is based on a 4.9% annual revenue growth rate and represents a $29.8 million increase in earnings from the current $7.2 million figure.

Uncover how FIGS' forecasts yield a $6.74 fair value, a 12% downside to its current price.

Exploring Other Perspectives

Three Simply Wall St Community members estimate FIGS’ fair value from as low as US$2.50 to US$7.21 per share. With growing costs from tariffs in Vietnam, Jordan and China weighing on margins, you may want to explore other views on FIGS’ potential performance and risks.

Explore 3 other fair value estimates on FIGS - why the stock might be worth less than half the current price!

Build Your Own FIGS Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your FIGS research is our analysis highlighting 1 key reward and 1 important warning sign that could impact your investment decision.
• Our free FIGS research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate FIGS' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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