Manufacturing merchandise with a direct-to-consumer mannequin can typically assist an organization propel ahead a lot quicker.
That’s been the technique for Faraz Malik Shaikh, CEO of Figo Houses, a New York Metropolis-based dwelling items model with plans to additional broaden its product line into outside gear for campers, adventurers and outside fanatics. “Our development has been constructed on lean, test-driven operations and efficiency advertising,” he says. “We validate merchandise via actual buyer suggestions and scale solely these with robust unit economics.”
In an interview, Shaikh shares his methods for rising a direct-to-consumer enterprise, from betting on the suitable merchandise to navigating tariffs.
Inform us about Figo Houses’ enterprise mannequin and the way the corporate has grown over time.
Figo House is a vertically built-in dwelling items model that designs, manufactures and sells high-quality merchandise on to customers. We began by growing a spread of smaller indoor gadgets—akin to {hardware} and residential equipment—with a deal with clear design, sturdiness and on a regular basis performance. Over time, primarily based on buyer demand and market insights, we expanded into bigger outside residing merchandise, together with premium hearth pits and tenting necessities.
What units Figo Dwelling aside is that we’re the producer. We don’t resell or white-label. We conceptualize, prototype and produce each product ourselves. Controlling our whole provide chain, from design and manufacturing to success and post-purchase care, allows us to ship distinctive worth and reply to buyer wants in a fast vogue.
Our development has been constructed on lean, test-driven operations and efficiency advertising. We validate merchandise via actual buyer suggestions and scale solely these with robust unit economics. This disciplined strategy has allowed us to broaden product strains, construct model loyalty and develop sustainably with out outdoors funding. Figo House is on a path to changing into a trusted family identify in each indoor and outside dwelling necessities.
What’s subsequent for Figo Dwelling?
As we develop, Figo House is evolving from a house items model right into a broader way of life firm that helps each indoor consolation and outside residing. A key focus space for us is increasing our firepit line—not simply as yard necessities, however as practical, well-designed gear for campers, adventurers and outside fanatics.
We see robust potential on the intersection of design and utility, and we’re growing merchandise that journey nicely, are straightforward to make use of, and produce heat and connection to outside experiences. It is a pure extension of our model and mission.
Figo Dwelling remains to be early in its journey, however we’re constructing for long-term worth, not simply seasonal development. Our long-term imaginative and prescient is to make Figo Dwelling a trusted identify for high quality, sturdy items—indoors and out.
Are the tariff proposals impacting what you are promoting in any respect—or how are you at the moment mitigating them?
Sure, current tariff proposals have modestly elevated the price of a few of our shipments. Anticipating potential disruptions, we took proactive steps to construct stock forward of time and restrict publicity the place potential. Whereas the broader tariff outlook stays unsure, we’ve been considerably insulated by sourcing primarily from Pakistan, which has allowed us to keep away from the steepest value will increase that many opponents are going through.
That stated, tariffs are all the time a consider world commerce. So long as the enjoying area stays degree throughout our business, we don’t view them as a big aggressive menace. We additionally proceed to strengthen our threat administration by exploring twin sourcing methods and sustaining flexibility in our provide chain, so we’re ready to adapt if circumstances shift unexpectedly.
Over the course of your profession, what are the teachings that you just’ve discovered alongside the way in which?
Probably the most vital classes I’ve discovered is to chop your losses early and let your winners run. A few of our most profitable merchandise had been people who resonated instantly, incomes robust buyer suggestions and producing natural traction from the beginning.
Early within the journey, we made the error of holding on to underperforming merchandise, believing they might ultimately catch on. In hindsight, we discovered that our personal notion of a product ought to by no means outweigh actual market suggestions. Listening to the shopper early and objectively is crucial—preliminary response typically reveals not simply product potential, but additionally broader market dynamics.
One other key precept is staying lean. Each greenback issues, and constructing a capital-efficient enterprise requires fixed self-discipline round prices—from logistics and success to promoting and operations. That stated, we by no means compromise on high quality in manufacturing. That’s one space the place we consider funding pays dividends, as a result of delivering a superior product is the inspiration of long-term model belief.
