Figs adds Lululemon leader to C-suite
Healthcare apparel brand Figs, Inc. has hired an apparel industry veteran as its new chief financial officer.
Sarah Oughtred will become the company’s CFO effective Aug. 9. She will lead all aspects of finance, including financial planning & analysis (FP&A) and accounting, and will also lead data analytics.
Oughtred spent almost 17 years at Lululemon, where she served in finance leadership roles of increasing responsibility, including senior VP of FP&A since 2021. In that role, Oughtred led a global team of over 100 finance team members, served as a key partner to the Senior Executive Team, drove the financial component of strategic and operational planning, and led the company’s annual and quarterly financial planning and earnings processes.
“I am thrilled to welcome Sarah to Figs during this exciting time in our growth trajectory,” said Trina Spear, Figs’ CEO and co-founder. “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. We look forward to benefiting from Sarah’s experience driving exceptional growth and profitability.”
During her tenure at Lululemon, Oughtred helped the brand grow substantially. Lululemon increased net revenues from $270 million to approximately $10 billion and scaled its retail footprint from less than 50 stores to over 700. Prior to Lululemon, Oughtred spent three years at PricewaterhouseCoopers in the audit and assurance practice, where she planned and executed audit and review engagements for both public and private companies within the consumer products and services sector.
Oughtred joins the direct-to-consumer brand, which was founded in 2013, as it begins its entrance into brick-and-mortar. In 2023, Figs opened its first retail store at Century City Mall in Los Angeles, and shared plans for a second, much larger location in Philadelphia's Rittenhouse Square neighborhood.
“I could not be more excited to become Figs’ new CFO and look forward to working with the entire team to take the company to the next level,” said Oughtred. “I have long admired how FIGS revolutionized the healthcare apparel industry, as well as its structurally advantaged financial profile. 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.”