Lovesac is an American furniture retailer, specializing in a patented modular furniture system called Sactionals. Sactionals consist of two combinable pieces, “Seats” and “Sides,” as well as custom-fit covers and associated accessories. Lovesac also sells Sacs, a bag seat filled with a proprietary foam mixture.
Russell 2000 Index component
|Founder||Shawn David Nelson|
|Shawn David Nelson (CEO & Director)|
|Products||Sactionals, Sacs, Accessories|
|Revenue||US$ 165.88 million (FY2019)|
|US$ −7.04 million (FY2019)|
|US$ −6.7 million (FY2019)|
|Total assets||US$ 105 million (FY2019)|
|Total equity||US$ 78.97 million (FY2019)|
Number of employees
Lovesac was created in 1995 by Shawn D. Nelson, who formerly hand-made the chairs and delivered them to other students at the University of Utah. In 2005, Nelson won Fox's Rebel Billionaire reality show. The company relocated from Salt Lake City to Stamford, Connecticut in 2006, as it raised private-equity capital in the area. Lovesac joined the Nasdaq stock exchange on Wednesday, June 27, 2018, trading under the symbol LOVE.
According to founder Shawn David Nelson, Lovesac plans to move 75% of its production out of China by 2020, due to trade war tariffs. Currently, 40% of Lovesac's manufacturing is done in Vietnam and Malaysia, which are free of the tariff levels.
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- "LoveSac in Bankruptcy". Deseret News. February 3, 2006. Retrieved 2014-02-02.
- Clint Engel (22 May 2013). "Top 100 stores' sales jumped 9.9% in 2012". Furniture Today. Retrieved 24 April 2015.
- "Stamford-based Lovesac to move most production out of China over trade war tariffs". connecticut.news12.com. Retrieved 2019-10-15.