FIGS to Outfit 250+ Team USA Healthcare Professionals at the 2024 Olympic and Paralympic Games

Rhea-AI Summary

FIGS (NYSE: FIGS) has secured a multi-year agreement with the U.S. Olympic & Paralympic Committee (USOPC) and LA28 Olympic & Paralympic Games. This partnership will see FIGS outfitting over 250 healthcare professionals supporting Team USA at the 2024 and 2028 Olympic and Paralympic Games. FIGS will launch a -edition, Team USA-inspired collection in July, featuring red, white, and blue palettes with Team USA emblems. CEO Trina Spear highlighted the importance of supporting healthcare professionals. The collaboration will be celebrated with events in Paris and New York City. The collection will be available on wearFIGS.com.

Positive

• Multi-year agreement with USOPC and LA28 boosts FIGS' brand visibility.
• Outfitting of 250+ healthcare professionals positions FIGS as a premium medical apparel provider.
• Launch of -edition Team USA collection expected to drive product sales.
• Partnership with a prestigious event like the Olympics enhances FIGS' reputation.
• Upcoming omni-channel campaign can increase brand engagement.

Negative

• Additional costs related to the production of the new collection and promotional events.
• Dependence on the success of the Olympic partnership for brand impact.
• Potential risk if association with the Olympics does not translate to increased sales.

The agreement through LA28 honors the “team behind the team” that supports athletes and provides premium care not only in the most important moments of their career but every step of the way.

SANTA MONICA, Calif.--(BUSINESS WIRE)-- FIGS (NYSE: FIGS), the renowned medical apparel brand, announced today a multi-year agreement with The U.S. Olympic & Paralympic Committee (USOPC) and The LA28 Olympic and Paralympic Games (LA28), highlighting the Awesome Humans who push the limits every day to support their patients in life’s most critical moments. Beginning with this year’s Olympic and Paralympic Games in Paris, FIGS will outfit the 250+ healthcare professionals supporting Team USA Olympic and Paralympic athletes, and will provide uniforms through the Los Angeles 2028 Olympic and Paralympic Games.

(Photo: Business Wire)

“We wanted to choose only the most high-quality apparel for our world class medical staff,” said Peter Zeytoonjian, SVP, Consumer Products of The U.S. Olympic & Paralympic Properties (USOPP) and LA28. “Which is why FIGS will continue supporting the Team USA Medical Team through the highly anticipated home games here in Los Angeles.”

Driven by the pursuit to spotlight the selflessness and determination of healthcare professionals, FIGS’ support of the USOPC highlights the Team USA medical staff, who go above and beyond to care for elite athletes leading up to and during the Games. The collaboration recognizes the team of healthcare professionals who support athletes in the pursuit of their personal best.

In celebration of the 2024 Olympics & Paralympics, FIGS is unveiling a limited-edition, Team USA-inspired collection that will be available for online purchase. The spirited line uses a palette of red, white and blue and is inspired by the strength of the medical team behind every Olympian and Paralympian. Staying true to FIGS’ core values, the products feature functional innovation to meet the high standards of today’s healthcare professionals. The collection includes distinct Team USA Medical Team emblems and branding.

“We are thrilled to embark on this journey with Team USA, marking a significant milestone in our shared commitment to support our invaluable healthcare professionals,” said Trina Spear, CEO of FIGS. “This joint initiative is truly inspiring and we are honored to stand alongside Team USA and the USOPC in our commitment to supporting the Awesome Humans at the 2024 Summer Olympic & Paralympic Games.”

To commemorate this milestone, FIGS will launch a 360-degree, omni-channel campaign in July. As part of the campaign, FIGS will host an event for the Team USA healthcare professionals in Paris where medical staff and volunteers will be honored for their work. For healthcare professionals not in Paris, FIGS will host a celebratory Team USA event in New York City in July.

“We are excited to enter into this relationship with FIGS, with an ultimate goal of recognizing the amazing medical staff that works tirelessly behind the scenes to support the world’s greatest athletes - both on and off the field of play,” said Dr. Jonathan Finnoff, Chief Medical Officer, USOPC. “We look forward to working closely with FIGS through 2028 to ensure that we continue honoring these incredibly talented and committed professionals in the years to come.”

The 2024 FIGS Team USA collection will be available for purchase in July, on wearFIGS.com. To stay up to date on the campaign, follow @wearFIGS on TikTok and Instagram and visit wearFIGS.com.

About FIGS

FIGS is a founder-led, direct-to-consumer healthcare apparel and lifestyle brand that seeks to celebrate, empower and serve current and future generations of healthcare professionals. We create technically advanced apparel and products that feature an unmatched combination of comfort, durability, function and style. We share stories about healthcare professionals’ experiences in ways that inspire them. We create meaningful connections within the healthcare community that we created. Above all, we seek to make an impact for our community, including by advocating for them and always having their backs. We serve healthcare professionals in numerous countries in North America, Europe, the Asia Pacific region and the Middle East. We also serve healthcare institutions through our TEAMS platform. For more information, visit wearFIGS.com.

About USOPC

Founded in 1894 and headquartered in Colorado Springs, Colorado, the United States Olympic and Paralympic Committee serves as both the National Olympic Committee and National Paralympic Committee for the United States. The USOPC is focused on protecting, supporting and empowering America’s athletes, and is responsible for fielding U.S. teams for the Olympic, Paralympic, Youth Olympic, Pan American and Parapan American Games, and serving as the steward of the Olympic and Paralympic movements in the U.S. For more information, visit TeamUSA.org.

About LA28 Olympic and Paralympic Games

The LA28 Games will mark Los Angeles’ third time to host the Olympic Games, previously hosted in 1984 and 1932, and first time to host the Paralympic Games. Los Angeles will host the world’s most elite athletes in 2028 as it welcomes Paralympians and Olympians from around the world to compete on the biggest stage in sports. The LA28 Games are independently operated by a privately funded, non-profit organization with revenue from corporate partners, licensing agreements, hospitality and ticketing programs and a significant contribution from the International Olympic Committee. For more information, visit la28.org.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240520546134/en/

For media inquiries

Todd Maron | press@wearFIGS.com

Source: FIGS, Inc.

FAQ

What is the FIGS agreement with the USOPC?

The agreement involves outfitting over 250 healthcare professionals supporting Team USA at the 2024 and 2028 Olympic and Paralympic Games.

When will the FIGS Team USA collection be available?

The collection will be available for purchase in July on wearFIGS.com.

How many healthcare professionals will FIGS outfit?

FIGS will outfit over 250 healthcare professionals.

What are the key features of the FIGS Team USA collection?

The collection features a red, white, and blue palette with Team USA emblems and branding, designed to meet the high standards of healthcare professionals.

What events are planned to celebrate the FIGS partnership?

FIGS will host events in Paris and New York City to honor Team USA healthcare professionals.