Perhaps most known for its all-green, wellness-expanding atmosphere, or for being a rising influencer favorite, it’s no secret that facial bar Formula Fig has a growing both online and physical presence.
The Arlington Heights-based experiential skincare retailer began as a sort of therapeutic outlet for founder JJ Walsh, but quickly blossomed into a means to disrupt the traditional skincare market.
Walsh, who served as a fashion editor at Condé Nast for more than a decade in London, had the idea of starting Formula Fig when she and her family relocated to Vancouver for her husband’s work. For Walsh, Canada was not as progressive on the fashion scene as London, and she missed her community and routines.
“I was quite lonely, and I also really missed inspiring places you can go to make you feel really good,” Walsh said. “At the same time, I also had quite a few small children and so I wasn’t feeling my best either. I was thinking, ‘where can I go to get all these things in one place?’ And that’s how Formula Fig came about.”
Formula Fig opened its first location in Vancouver in 2019, followed by a Toronto storefront debut in 2022. In the following year, the company entered the U.S. market – opening both its West Hollywood flagship and Culver City studio just a year apart.
The name “Formula Fig” is derived from the company’s intrigue in both science and
nature, with “formula” speaking to its obsession with science and technology, while “fig” –
the plump, juicy internal flower which doubles as a fruit – speaks to the sacred habits of the organic world.
“From a global lens, Los Angeles is the capital of the wellness world,” Walsh said. “Having lived in New York and London, I very much wanted the business of Formula Fig to be thought of in more of a wellness lens, rather than the beauty or med spa lens…I thought, ‘if we can crack California, we can crack anywhere.’”
Six years later, Formula Fig has provided over half a million facial treatments to date and has grown to encompass seven locations across North America, with several more underway.
Technology-driven results
One of the biggest ways in which Formula Fig sets itself apart is by emphasizing its high-technology, results-driven treatments – often by combining medical-grade technologies to target skin complexities such as dehydration, wrinkles, fine lines, acne, discoloration and more.
By focusing on skin longevity, Formula Fig’s services range from facials to needling treatments and injectables and are typically provided in either half-hour or hour-long increments.
Unlike many other spas that offer prolonged facials, in maybe more soothing or relaxing settings, Formula Fig’s priority is efficiency. Most studios have somewhere between three to six treatment pods. With each pod able to achieve 15 treatments per day, the company averages around 45 to 90 treatments per location daily. Each studio is open from 8 a.m. to 8 p.m., seven days a week, intended to increase flexibility and customer accessibility.
“If you’re popping in, you can get your work out around the corner, you can get your facial and you can be at your desk by 9 o’clock in the morning,” Walsh said. “We’re very aware of what is part of your day-to-day routine and where we slot in with that as well. And that shapes where we go for our real estate strategy too.”
The company offers a tiered membership plan, with the basic plan coming in at $85 per month and all access costing $475 per month, with each plan including at least one facial per month, a complimentary guest pass and discounted pricing on all other Formula Fig treatments, including injectables. All customers are invited to take a skin quiz to determine which treatment is right for them and will receive a Bespoke 60-minute facial, valued at $250, just for signing up.
“If a brand makes you feel like it’s exclusive, it definitely drives people wanting to be there, use the service, use the product,” Ryan Gurman, a retail leasing agent at CBRE who specializes in the beauty, health and wellness sectors, said. “That’s something that we’re seeing all across the board in pretty much every sector is that exclusivity.”
Retail expansion
Doubling down on Los Angeles’ passion for health and wellness, Walsh said Formula Fig is aiming to open a new location in Studio City, in either the second or third quarter of next year, and has its eye on several other Los Angeles neighborhoods as well, including Pasadena and Silver Lake.
“Los Angeles is a hub for health and wellness, which will continue to be an expanding category in the retail sector,” said Kyle Fishburn, a retail leasing agent at KWP Real Estate. “It’s definitely a movement that people are willing to invest in themselves.”
Unlike many retailers that stick to their tried and trusted layouts, Walsh said Formula Fig thrives in odd shapes, stating that “funky footprints” are what allow Formula Fig to get creative with its design. As long as it’s street facing and has parking, Formula Fig is game.
“A lot of tenants are very set on their design and on their layout and on what they exactly need,” Gurman said. “If you can adapt and modify your design and take spaces that may be more challenging for another tenant to take, that’s very valuable for both a landlord and a tenant when you have that flexibility.”
Beyond Los Angeles, Formula Fig is currently sourcing locations for its first fig bar in New York – with Walsh looking at Soho, the Flatiron District and the Upper East Side. She plans to start in Manhattan and eventually open a spot in Brooklyn. London may be on the horizon as well, she said.
“What works really well for us is clustering within cities,” she said. “As much as I’d like to chase this shiny silver object and put a Formula Fig, which I think every city could take one, or many, we really wanted to focus, especially as we’re a younger company. Operationally, it works really well for us to cluster within a city, not only for brand awareness, but also we have a membership (program) and it’s very helpful for members to hop around (one city).”
Skincare line on its way
Aside from its sprawling brick and mortar evolution, Formula Fig is intent on expanding itself holistically – with the launch of its very own skincare line coming soon.
The line, dubbed FFFormulations is being released in partnership with Debut Biotechnology Inc., a L’Oréal-backed vertically integrated biotech startup company that develops high performance, sustainable ingredients by leveraging synthetic biology and cell-free biomanufacturing.
“We really wanted to have this credibility that only comes through time and trust and through our experts,” Walsh said. “Obviously, we want to be an expert-led brand for our products. We wanted a launchpad to launch our products through because I know how tough it is in the digital world as well without doing paid.”
Formula Fig is currently working to nail down formulas for its line and hopes to start rolling it out in the first quarter of next year, starting in both retail and online.
While the actual set of products have yet to be developed, Walsh previously told Beauty Independent that the line will start with four to five items that could include a cleanser, essence, mask and two serums.
“I think the majority of my time is just looking at data and opportunity and what we prioritize,” Walsh said. “Because there’s so much to do, but it’s really hard to prioritize. So (we’re) constantly looking at five-year plans and what we can do then … We’re playing the long game.”
Balancing growth in a digital era
While a skincare line was always a dream of Walsh’s, she said it didn’t feel right to launch from the beginning. She was new to the world of beauty and wanted time to build a community and discover what works for most people by testing established brands during their facial treatments before branching off and creating their own.
“We had to build the brand,” she said. “I also think you can’t just drop a brand. Well, I’m sure you can. We’ve all seen it. But I also think it does take time. Good things take time, and so I really wanted to build that trust in our
physical spaces.”
According to Walsh, it was through this patience that she learned the three driving factors of any successful skincare brand: a good story, efficacious product and tempting aesthetics. As she looks ahead to the future, she said she hopes Formula Fig encompasses all three.
“Social media is important, but so are results,” Gurman said. The elevation of a brand also comes down to the concepts behind it – the style, design and aesthetics. “You want to feel like you’re going into something that’s
top notch.”
“Formula Fig was created for what I missed and what we didn’t have,” Walsh said. “And I think as it’s gone on as well, for me, a huge personal goal is really building and changing communities. I know how difficult that is, moving to new cities and making people feel welcomed. I think we’re very good at that.”
