Dive Brief:
- DTC healthcare apparel brand Figs on Monday announced a multiyear agreement with the U.S. Olympic and Paralympic Committee and the LA28 Olympic and Paralympic Games to outfit hundreds of Team USA healthcare professionals.
- To start the partnership, the brand will outfit over 250 medical personnel at the Olympic and Paralympic Games in Paris this summer, per a release sent to sister publication Retail Dive. Figs will provide uniforms through the 2028 Olympic and Paralympic Games in Los Angeles.
- The Paris limited-edition collection will be available for purchase on the Figs website starting in July. The styles for the Figs sponsored USA medical team kits feature new silhouettes with custom trim packages and exclusive Team USA branding, per the company.
Dive Insight:
Figs has collaborated with a number of entities in recent years, including Star Wars, Bumble, Crocs and last year with Everton Football Club of the English Premier League as the soccer team’s supplier of clothing for its medical staff. Now, the Santa Monica, California- based brand is teaming up with USOPC and LA28 ahead of the summer Olympics.
“We wanted to choose only the most high-quality apparel for our world class medical staff, which is why Figs will continue supporting the Team USA Medical Team through the highly anticipated home games here in Los Angeles,” Peter Zeytoonjian, senior vice president of consumer products of the U.S. Olympic and Paralympic Properties and LA28, said in a statement.
As part of a “360-degree, omni-channel marketing campaign” scheduled for July, Figs plans to host an event in Paris to honor the Team USA medical staff and a second one in New York City for those who do not make the trip to Paris.
“We are obsessively focused on serving healthcare professionals,” Bené Eaton, chief marketing officer at Figs, said in an email. “For a long time, there have been multi-billion-dollar companies focused on outfitting and celebrating athletes, but nobody was focused on doing that for healthcare professionals — extraordinary people who care for patients, cure diseases and save lives.”
A number of prominent sports-related DTC brands are also using the Olympics to showcase new products and expansions. Footwear brand On announced plans to open its second store in Paris in time for the Summer Games, where it will serve as a community space for runners. Nike introduced a new product lineup of running shoes that athletes will wear at the Olympics, and Athleta signed Olympic swimming champion Katie Ledecky to a long term sponsorship deal.
“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,” Trina Spear, CEO of Figs, said in a statement. “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 and Paralympic Games.”
The Figs sponsorship comes after Figs earlier this month reported first-quarter net revenue fell 0.8% year over year to $119.3 million, due to a decrease in orders. And last month, Bank of America downgraded Figs to underperform citing a “challenging sales environment.”
