Top 4 Lovesac Competitors in 2022

Top 4 Lovesac Competitors

The Lovesack Company, shortened to simply Lovesac, was founded in 1995 by Shawn David Nelson. It started off as a handmade chairs manufacturer exclusive for the students of the University of Utah. The company eventually expanded into the home furnishings industry, producing sactionals and accessories.

NameLovesac
Founded1995
HeadquartersStamford, CT, US
SIC Code5712
StatusPublic, Independent Company
Industry SectorHome Furnishings
Employees257
Trading SymbolNASDAQ: LOVE

Lovesac similar companies:

Yogibo LLC, Jaxx Bean Bags, Sumo Lounge and BeanBagTown .

The founder is still active in the business as the Director and CEO of Lovesac. The company’s headquarters are located in Stamford, CT, and they ship their products throughout the contiguous United States. Lovesac’s revenue is $165 million and climbing. Sactionals may have been patented by the company, but they aren’t the only ones manufacturing such products.

Lovesac Competitors:

Jaxx Bean Bags, Yogibo LLC, Sumo Lounge, BeanBagTown.

Who is Lovesacs Biggest Competitor?

The biggest competitor of Lovesac is Jaxx Bean Bags. Its revenue of $30 million is nowhere near that of Lovesac, but it has been rapidly growing every year. Jaxx was founded in 2006 with a core focus on producing quality bean bags. The company is currently based in Atlanta, GA.

How Lovesac Makes Money

Most of Lovesac’s revenue comes from manufacturing and selling their patented sactionals directly to customers, either through their website or via their 70+ retail stores. It was ranked among the top 100 furniture companies in the Furniture Today magazine.

Home Furnishings

The home furnishings industry comprises all kinds of furniture that is suitable for houses. Lovesac operates in a particular niche of the industry, primarily dealing in soft, comfortable furniture. Sactionals and Sacs (bean bags) are their main offerings.

Jaxx Bean Bags

Jaxx Bean Bags has only one facility in Atlanta and a few manufacturing outlets in other US states. However, it doesn’t have any physical stores to buy from. Place an order from their official website, avail of their exclusive discounts, and wait for just about a week or two to find a comfortable bean bag on your doorstep.

Bean Bags

Jaxx only deals in bean bags of the highest quality. They aren’t your regular Styrofoam-filled cushions but foam-lined fabrics that last much longer.

Yogibo LLC

Eyal Levy, one of the founders of Yogibo, handcrafted his first bean bag post the turn of the millennium to provide more comfort to his pregnant wife. Then in 2009, collaborating with Giora Liran, he founded Yogibo LLC.

Home Furnishings / Gadgets

Apart from bean bags, Yogibo also manufactures dog beds and a unique audio gaming console called Jogoball. Based in Nashua, New Hampshire, the company’s revenue is somewhere around $17 million.

Sumo Lounge

Sumo Lounge produces bean bags of all types, right from the regular foam-lined seats to gamer bean bags. It was founded by Andrew Milligan in 2004, and it is currently headquartered in Henderson, NV.

Bean Bags

The manufacture and sale of their numerous types of bean bags earn Sumo Lounge a revenue of over $5 million.

BeanBagTown

BeanBagTown is a smaller business than the rest of the competitors on this list, but it has the potential to grow into a larger enterprise. The company was founded in 2013 in Girard, PA, where its headquarters are located to this day.

Bean Bags

BeanBagTown generates revenue of somewhere between $1 million to $5 million since its operations focus on localized sales.

Conclusion:

Top 4 Lovesac Competitors: Jaxx Bean Bags, Yogibo LLC, Sumo Lounge, BeanBagTown. Together, they generate revenue of around $220 million in the home furnishings industry. Their total workforce amounts to about 807 employees.

Competitor’s Stats:

NameFoundedHeadquartersEmployees
Jaxx Bean Bags2006Atlanta, GA, US220
Yogibo LLC2009Nashua, New Hampshire, US250
Sumo Lounge2004Henderson, NV, US30
BeanBagTown2013Girard, PA, US50

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