Figs, Inc., the direct-to-consumer apparel brand known for catering to health care professionals, named Sarah Oughtred as its new chief financial financial officer. She will step into the role after more than a decade at Lululemon Athletica.

Oughtred will join Figs on July 29, officially taking over her new duties as chief financial officer on Aug. 9, Figs announced.

Figs ranks No. 163 in the Top 1000, Digital Commerce 360’s database of North America’s online retailers by web sales. The retailer is in the Apparel & Accessories category.

Sarah Oughtred’s new role as chief financial officer at Figs

Sarah Oughtred, incoming chief financial officer at Figs | Image credit: Figs

“I am thrilled to welcome Sarah to Figs during this exciting time in our growth trajectory,” said Trina Spear, the co-founder and CEO at Figs, in a released statement. “Her experience scaling Lululemon into a global apparel leader aligns directly with our long-term growth plans, where we aim to be the iconic global brand for healthcare professionals over the next 100 years.”

In addition to leading financial oversight on the executive team at Figs, Oughtred will also be responsible for including financial planning and analysis, accounting and data analytics for the company.

She joins following a first quarter in 2024 where Figs reported $119.3 million in net revenue, which was down 0.8% year over year. The company will look to raise its profile this summer, however, as it begins a multiyear agreement, announced in May, with The U.S. Olympic & Paralympic Committee and The LA28 Olympic and Paralympic Games. Starting at the Olympic and Paralympic Games in Paris, Figs will provide uniforms for medical team members working with Team USA Olympic and Paralympic athletes. That deal will extend through the Los Angeles 2028 Olympic and Paralympic Games as well.

Figs uniform being provided to U.S. Olympic & Paralympic Committee medical team members for the Paris Olympics in 2024 | Image credit: Figs

Oughtred’s background and career

“I could not be more excited to become Figs’ new chief financial officer and look forward to working with the entire team to take the company to the next level,” Oughtred said. “I have long admired how Figs revolutionized the healthcare apparel industry, as well as its structurally advantaged financial profile.”

During her 17 years at Lululemon, Oughtred worked in financial leadership positions tackling a variety of responsibilities. Most recently she served as senior vice president, financial planning and analysis, a role she took on in 2021. During her time there, Lululemon increased its net revenues from $270 million to $9.6 billion in 2023. The company also increased its number of stores from 50 to more than 700 over that span.

Prior to Lululemon, Oughtred worked for three years at the firm PricewaterhouseCoopers in their audit and assurance division. There, her duties included planning and executing audit and review engagements for consumer products and services companies, both public and private.

“This is an exciting time to be joining with so much growth potential ahead through the company’s product innovation, inspirational storytelling, global expansion, teams, and a growing retail presence through Community Hubs,” said Oughtred.

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