FIGS Inc

We are headquartered in Santa Monica, California, where we lease office space under lease and sublease agreements that expire in 2030 and 2026, respectively. We designed, built and use this location for product innovation and design, content creation, technology, customer experience and for general office use. We also maintain dedicated photo studio space at this location.

We operate an embroidery workshop within our dedicated warehouse space at a third-party logistics provider’s location in City of Industry, California, which we lease pursuant to a services agreement. As part of our fulfillment enhancement project, we intend to transition all fulfillment and embroidery operations from our City of Industry location to a new fulfillment center, where we expect to commence distribution operations by Q3 2024. The new facility is leased by us under a lease agreement that expires in 2030 and will be operated by a third-party logistics provider. We also maintain warehouse space with other third-party logistics providers pursuant to service agreements or leases.

We currently operate one retail store in Los Angeles, California, which is leased by us under a lease agreement that expires in 2028. We also lease space in Philadelphia, Pennsylvania, which we intend to use for a future retail store.

We believe that these facilities are sufficient to meet our current and anticipated future needs and that suitable additional space will be available as needed to accommodate expansion of our operations.