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.
Lovesac Furniture
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.
History
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.
