Lovesac is a home and furniture brand founded in Salt Lake City, Utah, in 1998. It is now headquartered in Stamford, Connecticut.
The first Lovesac began with a bored 18-year-old and The Price Is Right. Shawn Nelson has written that watching it in 1995, he wondered, "How funny would it be to watch this in a massive bean bag that covered the whole floor?" He bought clearance vinyl at JOANN, and when his sewing machine jammed, a friend's mom finished the job. The stuffing was his parents' camping mattresses, chopped into strips. In 1998 Lovesac became a Salt Lake City company.
Intermountain Furniture sold him scrap foam at five cents a pound. He cut it into squares on his knees with a paper cutter in his parents' basement, a 1,000-square-foot former ballet studio. Sacs were filled through a "Funnel of Love" hoisted by rope, which Nelson calls "the worst operation you've ever seen." Then Limited Too ordered 12,000 sacs, unaware, he says, that the company was him and a buddy.
Lovesac filed for Chapter 11 in January 2006 and moved its headquarters to Stamford, Connecticut, that year. It also launched Sactionals, modular couches born of shoppers asking to buy a display couch. Its other primary office, in St. George, covers 10,696 square feet, or more than ten ballet studios.
Lovesac says it designed a gold limo for a Las Vegas limousine company in 2003, and that a rival limo operator later stole the car and sold it for parts.
How can you not love Lovesac? If I had the room, I'd have a Sactional tomorrow.
Alex
New from Lovesac
Investor conference set for October 8
Lovesac said on September 24 that it would join the Telsey Advisory Group conference on October 8 at 2:45 p.m. Eastern. The release was datelined Stamford, Connecticut.
Snugg collection adds a swivel chair
Three new pieces let the Snugg sofa grow into a sectional, and one of them is Lovesac's first swivel chair. Every Snugg piece comes in more than 50 fabrics.
Andrew Farag named chief financial officer
Lovesac appointed Andrew Farag chief financial officer, effective the same day, after Keith Siegner stepped down. Farag was most recently a managing director at the advisory firm Riveron.
