Costing Manager

Costing Manager Santa Monica, CA Job Details $100,000 - $130,000 a year 2 hours ago Benefits Employee stock purchase plan Paid holidays Disability insurance Health insurance Dental insurance Paid time off Parental leave Vision insurance 401(k) matching Life insurance Pet insurance Qualifications Performance dashboard reports Cost management Financial forecasting Dashboard development Sourcing Microsoft Excel Financial model development Vendor management Procedural guides Cost control Budget forecasting Analysis skills Decision making Benchmarking Senior level Negotiated pricing Cross-functional collaboration Garment construction Financial acumen Implementing cost-saving initiatives Data-driven decision making Cross-functional communication Excel data analysis Full Job Description FIGS is seeking a highly analytical and commercially minded Costing Manager to own margin strategy and cost integrity across all CORE and Limited-Edition programs. This role will serve as the centralized cost authority for the Sourcing team by driving IMU optimization, validating vendor cost structures, and building scalable costing frameworks across categories.

This individual will partner closely with Sourcing, Merchandising, Development, Planning, and Finance to improve margins through structured analysis, cost engineering, and strategic vendor decisions. What you'll do: Cost Strategy & IMU Optimization Own margin analysis and IMU optimization across all product categories. Identify structural cost-saving opportunities across fabric, trims, labor, duty, freight, overhead, and COO. Develop scenario models to assess cost impact from fabric changes, construction shifts, MOQ adjustments, or vendor transitions. Partner with Merchandising and Finance to evaluate pricing strategy and margin trade-offs. Proactively drive IMU expansion through cost engineering, negotiation strategy, and vendor optimization. Bulk Costing & Vendor Transparency Establish and validate target costs in partnership with Development and Sourcing Lead and support bulk cost negotiations with data backed analysis. Audit and validate vendor cost breakdowns to ensure transparency and integrity. Standardize cost templates to enable comparability across vendors and regions. Analyze vendor cost performance trends to inform long-term sourcing strategy. Cost Engineering & Landed Cost Optimization Analyze BOMs to identify simplification and material optimization opportunities. Provide cost impact analysis for design, raw material, and construction changes. Evaluate landed cost variables - including freight, duty, tariffs, and COO shifts - to optimize total margin. Partner with Technical Design and Development to implement value-engineering solutions without compromising quality. Systems & Cost Governance Ensure alignment between negotiated costs, system costs, and financial reporting. Build advanced Excel models for margin tracking, forecasting, and benchmarking. Develop dashboards that provide leadership visibility into margin performance, risks, and opportunities. Establish best practices and governance to drive cost discipline across the organization. Create and update SOPs for cost management. Cross-Functional Leadership Serve as the go-to cost expert across Sourcing, Merchandising, Planning, and Finance. Support annual margin planning and long-range financial forecasting with cost projections. Identify IMU risks early and recommend mitigation strategies. Influence decision-making through data-driven insights and commercial acumen. What you'll bring: 7+ years of apparel costing, sourcing, or cost analysis experience. Strong background in bulk negotiations and vendor cost breakdown analysis. Demonstrated success improving IMU through structured cost strategy. Advanced Excel expertise (complex modeling, scenario analysis, forecasting). Deep understanding of BOM structures, fabric costing, yield, garment construction, and landed cost components. Experience partnering cross-functionally with Merchandising, Development, Sourcing, and Finance. Strong commercial judgment with the ability to influence senior stakeholders. Highly analytical, detail-oriented, and systems-driven. What Success Looks Like CORE and Injection margins expand sustainably without compromising quality or delivery. Clear, actionable visibility into cost drivers across all categories. Leadership has proactive insight into margin risks and optimization opportunities. Vendor negotiations are data-backed, structured, and strategically aligned. Cost integrity across PLM and financial systems is consistently accurate and reliable. FIGS Compensation and Benefits Pay Range At FIGS, your base salary is one part of your total compensation package. This role's base salary range is between $100,000 and $130,000. Actual base salary is determined based on a number of factors, including but not limited to your relevant skills, qualifications, and years of experience.

Additional Compensation and Benefits Equity:

FIGS provides a discount when purchasing FIGS stock voluntarily through our FIGS Employee Stock Purchase Plan Other compensation and benefits offered include: Comprehensive benefits and perks package focused on your well-being, including premium medical, dental and vision coverage, and full access to wellness services through Breethe and Classpass. 100% FIGS-sponsored life insurance and disability insurance Amazing 401(k) program, with a company match up to the first 6% of your contribution Generous paid time off - We have 12 company holidays. For salaried team members, we offer flexible vacation. For our hourly team members, we offer up to 3 weeks of accrued vacation Meaningful time away for baby bonding, including parental leave, new parent care meals, and a transition back to work for primary caregivers FIGS sponsored Uber Eats voucher for in-office weeks Personalized discount code for 50% off all FIGS products, along with a separate code to share with family and friends to enjoy a 25% discount site-wide Access to FIGS Vet, Discounted Pet Daycare, Discounted Pet Insurance, and so much more… Benefits eligibility is determined by hour requirements and length of service A little bit about us… FIGS, Inc. is a founder-led, direct-to-consumer healthcare apparel and lifestyle brand that seeks to celebrate, empower and serve current and future generations of healthcare professionals. We redefine what scrubs are by creating technically advanced apparel and products that feature an unmatched combination of comfort, durability, function and style, all at an affordable price. With the largest DTC platform in healthcare apparel, we sell our products to a rapidly growing community of loyal customers. Through these customer relationships, FIGS has built a community and lifestyle around a profession, revolutionizing the large and fragmented healthcare apparel market and becoming the industry's category-defining healthcare apparel and lifestyle brand. Our Threads for Threads initiative is integral to our mission to improve the lives of healthcare professionals on a global scale. Founded alongside FIGS in 2013, Threads for Threads donates scrubs to healthcare professionals working in resource-poor countries around the world. FIGS considers all Qualified Applicants, including those with Criminal Histories (e.g., arrests or conviction records), for Employment in accordance with applicable state and local laws, including the City of Los Angeles' Fair Chance Initiative for Hiring Ordinance, the Los Angeles County Fair Chance Ordinance for Employers, and the California Fair Chance Act. For information about how we process information in connection with your application, view our Employee & Applicant Privacy Policy linked in the footer below.