Liz Lange, CEO of Figue, shares her aggressive dual strategy for growth through both wholesale and DTC channels. She details her approach to acquiring and revitalizing the luxury brand, emphasizing strategic product expansion and leveraging existing brand reputation. This episode offers valuable insights for ecommerce operators balancing multi-channel sales and looking to scale a brand through thoughtful market positioning.
Key takeaways
Aggressively pursue both wholesale and DTC channels to maximize reach and revenue for luxury brands, rather than favoring one over the other.
Prioritize acquiring brands with an established reputation and history, as this significantly reduces the burden of initial brand building and fosters a stronger foundation for growth.
Strategically expand product categories beyond core offerings to unlock new revenue streams and broaden brand appeal (e.g., Figue's expansion from dresses to swimwear, shoes, and accessories).
Leverage partnerships with high-end retailers like Neiman Marcus and Bergdorf Goodman to enhance brand visibility and validate market positioning for accessible luxury brands.
After launching and selling her namesake maternity wear brand, Liz Lange began to long for her entrepreneurial days.
To that end, she bought New York-based women's luxury label Figue, acquiring the 10-year-old brand in 2021 from founder Stephanie Von Watzdorf. Lange is currently CEO.
"I wanted to be the entrepreneur. I didn't want to be the advisor or the investor," said Lange on the latest episode of the Glossy Podcast.
Lange learned Figue was available for sale after spending years wearing and admiring the brand's clothes. "I knew [Figue] had 10 years of reputation-building [under its belt], which is very hard to accomplish. So I thought, 'Aha, maybe this is my next meant-to-be moment'," she said. Along with its direct-to-consumer e-commerce site, the brand now sells in over 50 retail locations, including at Neiman Marcus and Bergdorf Goodman. Lange classifies the brand as accessible and affordable luxury — its prices range from $73-$1,572.
"I knew the brand was much more than a summer and vacation brand, and that we could get there by doing more than dresses," said Lange. She said that Figue plans to grow sales by expanding to product categories including swim, shoes and accessories.
What does this episode say about retail & omnichannel?
Aggressively pursue both wholesale and DTC channels to maximize reach and revenue for luxury brands, rather than favoring one over the other.
What does this episode say about dtc strategy?
Prioritize acquiring brands with an established reputation and history, as this significantly reduces the burden of initial brand building and fosters a stronger foundation for growth.
What does this episode say about brand & content?
Strategically expand product categories beyond core offerings to unlock new revenue streams and broaden brand appeal (e.g., Figue's expansion from dresses to swimwear, shoes, and accessories).
What does this episode say about product & merchandising?
Leverage partnerships with high-end retailers like Neiman Marcus and Bergdorf Goodman to enhance brand visibility and validate market positioning for accessible luxury brands.
