LoveSac was founded in 1995 by current CEO Shawn D. Nelson. He started his business by making bean bag chairs and selling them to other University of Utah students. After learning Chinese while on a religious mission, Nelson put this skill to use to purchase material directly from China for his first large order. In 2005, he won a $1 million investment on Richard Branson’s reality TV show “The Rebel Billionaire.”
The company is best known for its gigantic bean bag “chairs” that are so big, they can double as couches or even beds. LoveSac also makes sectional sofas that can be rearranged into various configurations, change seat covers, and exchange parts that become damaged, rather than purchase a new set.
LoveSac filed for bankruptcy in 2006 but emerged that same year. In 2012 it was named the Fastest Growing Furniture Company in the US by Furniture Today magazine and in June of 2018, the company went public on the NASDAQ under the ticker symbol: LOVE.
The company currently has 60 store locations, though most sales are done online. Headquarters are located in Stamford, Connecticut. LoveSac reported sales of $101.8 million for the fiscal year ending February 4, 2018.
First off, I love the Lovesac couch. Best one I’ve ever owned. If I need a new one I’ll definitely buy Lovesac. HOWEVER, I am less than thrilled with the Stealthtech sound system. The subwoofer went out after owning the device for less than a year. Instructions were sent to correct the problem, but they didn’t work. A replacement was sent and it also wouldn’t work. At this point I decided to get a refund on the sound system and go without. When this was sent to your company, all I heard were crickets. By phone, text, and email, crickets. No answer from anyone and no information on how to return and refund. It’s almost like they figure if I am ignored the problem will go away. I am really disappointed.
Your company is too woke! Can’t do business with your company!
Shawn, wake up! We live in a world of speed. I ordered swatches for a couch arrangement. Called to find out how long it would take as I’m ready to order. I was told 2-3 weeks before swatches would ship. I hung up the phone and would never do business with your company under those circumstances. Don’t expand your retail too quickly, you’ll end up like Sears.
Hi I just spent over 6000 on one of your couches and am having a difficult time putting it together. I went into baybrook mall in z Houston area where I bought it .To begin with there was a misunderstanding in delivery date .it came way to early and I had to store it in my father garage .you guys had incorrect address for delivery which caused problems.now I can not put it together.i wish I had never bought .Pkys the store manager that was on duty bad attitude.can you please help me .my name Roger zgarner 602-881-XXXX
We wanted to purchase a lovesac for our family. We went there with no intention of spending over $4,000 for a couch but we fell in LOVE with the fabric and couch and were willing to make the purchase for our family. We were told it was 10-12 weeks until delivery. Every week our kids check the order update to see when the couch will arrive. On week 10 we get an email saying the fabric we picked is not available and we can choose from an option to replace. Well we were not in LOVE with any of those options but we did find one that we did LOVE. When we called customer service we were told NO!!. That they could not do that for us without an extra charge. Interesting!!!! Shawn Nelson says that lovesac is something more than getting big and making money, however lovesac was not willing to go the extra mile to make this right for us. Why are we being penalized for this. I am very disappointed that at this time we had to cancel our order and will not be getting a lovesac. Not sure who will see this, but my hopes are the Shawn will and he can decide if this is what lovesac really stands for.
Dave, Melissa, Ethan and Ava