Catherine Spear

Heather Hasson is a Los Angeles native with a background in fashion design. it was Hasson, 39, who first came up with the idea for Figs, circa 2013. Spear, 38, who holds a Harvard MBA and worked at private equity giant Blackstone, heard about Hasson’s startup idea through the grapevine and reached out to her; it was Spear who helped develop the idea into a viable business and guided the company, best known for their trendy line of fitted scrubs that are sold directly to healthcare professionals. (Santa Monica-based Figs, in case you’re wondering, is named after Hasson’s favorite fruit.) The coronavirus pandemic brought major success to Figs, in the form of increased demand for scrubs, masks and other healthcare-focused apparel. In 2020, revenue was $263 million and net profit topped $57 million, well over 100% more than 2019. Following the IPO, shares surged 36%, and Hasson and Spear each sported net worths of nearly $700 million. Since then, Figs stock has crashed — like much of the market as a whole — cratering 72% from its peak. But Hasson and Spear are already set for life, it would seem. Trading records show that during the last four months of 2021, Hasson sold more than $102 million of her Figs shares, while Spear cashed out to the tune of nearly $65 million.