FIGS, Inc. (NYSE:FIGS) Q2 2023 Earnings Call Transcript - Page 7 of 7 - InvestingChannel

FIGS, Inc. (NYSE:FIGS) Q2 2023 Earnings Call Transcript

And this is going to enable us to scale, provide a better customer experience, ensure that we’re getting our packages to our customers in the time that they want them and doing that with a really heightened level of customer experience. And so that’s where we’re really focused with the fulfillment enhancement initiative. It’s about efficiency, speed, and ultimately providing a better experience for our customers.

Operator: Thank you. The next question will be from the line of Bob Drbul with FIGS. Your line is now open.

Bob Drbul : Hi. A couple of questions from me. The first one is just in the back half of the year. Do you see, as you guys do some new color launches, is there any risk to those type of launches? You’ve had some challenges for the last few quarters on some of the colors. So I’m just curious if you’re taking any significant risk there. And then the second question I have is just on the new countries, I guess, as you’ve had some countries that you’re a little bit more established in, is there any major, discrepancies around, what you’re selling in some of the countries you’ve been in for, a couple of years now versus some of the newer ones and just, concerned or just interested in how the response has been in terms of mix or the reception of the brand, in some of the newer countries versus some of the older countries.

Trina Spear: In terms of our product innovation and product launches, I think what we’re really doing here is we’re continuing to bring product that solves problems for our healthcare professionals and whether that product comes in our classic colors or in our new colors, our goal is to bring products that people love. And so we’re going to continue to do that. I think we have been really encouraged by what we’ve seen in non-launch days and how we’ve driven our business through, day in and day out, interacting and engaging with our community and having them come even when we’re not launching products. And I think our evergreen, always-on marketing is supporting that. As it relates to international, sorry, Bob, I just want to make sure I get your question right on that.

Bob Drbul : I guess just on the international side, some of the countries you’ve been in for a little bit longer time frame now, are you seeing, much difference in the reception and receptivity of the brand versus some of the newer ones that you’re just entering and just testing it?

Trina Spear: No, I think, we’ve seen very similar behavior across, newer countries as well as ones like Canada and Australia and UK. We have, we mentioned it earlier, but it’s been really exciting what we’re seeing with Mexico, Philippines and Saudi Arabia. These are, countries where we just saw the demand. We opened up the market. We haven’t spent any money on marketing, and so that’s been really exciting. But in terms of what they’re engaging with, what they are, whether it’s our scrubs, really, you really do come to figs for our scrubs to start as you gain trust. And as, you get to know us better, you’re buying our fleeces, you’re buying our vests, you’re buying our under scrubs, and so that’s been great to see. And so we don’t see a lot of difference between our, longer-standing countries and our newer ones between product mix.

Bob Drbul : Thank you.

Operator: Thank you. That concludes today’s Q&A session. I will now pass the call back over to Trina for closing remarks.

Trina Spear: Thank you so much everyone for joining us on our second quarter call, and we look forward to seeing you in the next one.

Operator: That concludes today’s conference call. Thank you for your participation. You may now disconnect your lines. Thank you.

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