___________________________________________________________________________________________________________ Lovesac
We’ ve innovated a design philosophy that we call‘ Designed For Life’ – designing and redesigning things that can evolve and be built to last a lifetime
when I was 18 years old. It was my side hustle in college,” Shawn begins.“ In 1998, after dragging this thing around for a few years, my neighbor convinced me to make one for them, and I then started a little business called Lovesac.
“ By 2000, we opened our first store in Salt Lake City, and it worked. We then began opening stores all over the West. We had plenty of ups and downs; I won a reality TV show with Richard Branson, and we enjoyed our fifteen minutes of fame. Then we had to start over with VC money, reorganize the company in 2006 and move it out to Connecticut. We invented‘ Sactionals’ – an extremely modular couch that could be with you for the rest of your life – and it took us around ten years to figure out how to sell those en masse. By 2015, we pivoted the entire business around Sactionals with a whole new retail concept that exploded and allowed us to go public in 2018, with around $ 100 million in sales. And that brings us to today. We’ ve grown to around $ 700 million annually, we have 300 US locations, and we have a whole new platform coming over the next few years.”
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