Scoop: Figs Taps Mark Bixby as New CTO for Tech-Centric Growth
New appointment announced: Figs welcomes its latest Chief Technology Officer
Hey there! Here's a juicy little tidbit in the world of healthcare apparel. Figs, a direct-to-consumer powerhouse, recently appointed Mark Bixby as their Brand-New Chief Technology Officer (CTO), as per a press release on Tuesday.
Why does this matter, you ask? Well, Bixby is going to leverage Figs' data and technology prowess to create an unparalleled user experience for healthcare professionals—think seamless and personalized interactions.
Bixby stepped into the scene at Figs back in May, with the departure of Todd Lehr from the CTO position in June. This tidbit came to us via an email received by Retail Dive.
Before joining Figs, Bixby held the mantle of Vice President of Engineering at GameStop, and he previously served in the same role at Chewy and as Director of Engineering at Wayfair. Talk about an impressive resume!
So what does this new appointment mean for Figs? Considering that Bixby’s background is steeped in tech, it's clear that Figs aims to fortify its technology infrastructure. As stated by Trina Spear, Figs’ CEO and co-founder, “We’re super psyched to have Mark on our Figs team!” She also noted that Bixby has already demonstrated his tech expertise, helping Figs solidify its leadership in data and technology within healthcare apparel, and accelerating growth in its TEAMS, international, and retail businesses.
Just a few weeks ago, Figs launched a digital stethoscope in a variety of colors in partnership with health technology company Eko Health. The Figs Eko Core 500 digital stethoscope boasts a color screen displaying heart rate and electrocardiogram readings, further underscoring Figs’ tech-centric initiatives.
In August, Figs revealed that its second quarter revenues rose by 13%, reaching $138 million while net income narrowed slightly, from $4.9 million to $4.6 million. Figs’ customer base also grew by 21%, reaching 2.5 million active customers.
During an earnings call last month, Figs' CFO Daniella Turenshine mentioned that the brand experienced higher fulfillment expenses due to increased storage costs. However, Spear indicated that these costs are expected to decline in the coming quarters as Figs clears through excess inventory and invests in a project to streamline its fulfillment processes.
So, there you have it! Figs is expanding its tech capabilities under the guidance of Mark Bixby, aiming to carve out a unique niche in the healthcare apparel and tech space. Keep your eyes on this dynamic company as it continues to shape the future of healthcare technology. 💪💪💪
- Mark Bixby, previously with GameStop, Chewy, and Wayfair, has been appointed as the Brand-New Chief Technology Officer (CTO) at Figs to leverage technology for an improved user experience in healthcare.
- With Bixby's arrival, Figs is looking to bolster its technology infrastructure for growth, as evidenced by Figs' CEO, Trina Spear's, comments on his demonstrated tech expertise.
- In a strategic move, Figs recently partnered with Eko Health to launch a digital stethoscope, further emphasizing its commitment to healthcare technology.
- Figs' second-quarter revenues increased by 13%, reaching $138 million, and its customer base grew by 21%, underscoring its successful financial and user growth.
- Despite higher fulfillment expenses due to increased storage costs, Figs is optimistic about these costs decreasing in the coming quarters with the streamlining of its fulfillment processes.
- As Figs advances in its tech-centric initiatives under the leadership of Mark Bixby, it is poised to carve out a unique niche in the healthcare apparel and tech space, shaping the future of healthcare technology.
