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  "documentTitle": "FIGS, Inc. (FIGS)",
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  "authorName": "Spruce Point Capital Management",
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      "text": "FIGS proudly states in its FY 2021 shareholder letter that \"We Own Color\". Recognizing that the Company does frequent limited edition releases, we find that FIGS' core color palette is not materially different from others. Moreover, we don't believe that \"color\" endows any competitor with a sustainable competitive advantage.",
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      "text": "Jaanuu Core Colors & Limited Edition Colors vs Grey's Anatomy vs Koi vs FIGS",
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      "text": "Source: Jaanuu, Grey's Anatomy, Koi, FIGS",
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      "text": "Color Palette of Select Scrubs Companies",
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      "text": "Does FIGS Really \"Own\" Color?",
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