The Power of the Specialty Store

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.