History of a Company Named LoveSac...
LoveSac’s Humble Beginning
Bean bag chairs have been around since forever! Believe it or not, they’ve actually been traced back to Egyptian times. But yes, they’ve come a long way. Love Sac played an important part in the progress of bean bag sacks!
In 1995, a teenager named Shawn Nelson, stumbled upon a pretty ingenious idea. As many teenagers are, he was naturally drawn oversized beanbag chairs. But he has bigger dreams—a 7 foot wide bean bag chair. Finally, no more arguing over space on the beanbag!
With some help from his girlfriend, the LoveSac was born. After buying some fabric, the 7 ft bag was sewn. His predicament was finding something to fill it with. It was this creative search that changed the history of beanbag chairs!
Beanbag beads were too messy. They’re also not very comfortable and would flatten quickly. With some deep brainstorming and scrounging around for pretty much anything that felt soft, he ended up filling his sac with everything from packing peanuts to mattress foam.
The Sac was a big hit with all his friends. With time, people began to notice the awesomeness of having a huge foam-filled chair around!
Growing the Business
Beginnings were slow as LoveSacs were sewn in the basement of his parents’ home. Shawn and his friends used an old grain-grinder to shred seat cushion scraps.
At one lucky visit to a tradeshow in Chicago, Shawn and his small company set up a display booth. A large retailer ordered 12,000 small LoveSacs. He courageously agreed and assured his first big buyer that they’d make the bags and have them ready by the fast-approaching deadline.
A warehouse was rented and after buying a massive hay grinder, production was under way! Though this first deal making love sacks was not profitable for the rising company, it certainly created some brand recognition.
Finally an Established Business
With all the supplies to continue pumping out the sacs, Shawn and his friends opened a store in the local mall and the rest is history. People found that foam-filled bean bag chairs are much better to lounge in than bean-filled bags.
The LoveSac Bankruptcy
In early 2006, many were shocked when LoveSac filed for Chapter 11 Bankruptcy. The reported net worth of the company was $500,000 and $3.2 million in debts. This doesn’t mean that LoveSac closed stores or factories, but they were given protection from its creditors and allowed to reorganize.
There’s been a lot of speculation as to what drove LoveSac into bankruptcy. The industry grew quickly and customers didn’t want to pay for overpriced bean bag sacs. So they began looking elsewhere.
Love Sac vs. Lazy Sack
When comparing Love Sac chairs with other brand names, such Lazy Sack, what sets LoveSac apart from these other bags is the price. By placing shops in malls and other public places, LoveSac became very well known! But customers have found that Lazy Sacks are built to the highest of quality for a much lower price.
While a 6ft Love Sack can cost over $600, a 6’ Dusty Bag Lazy Sack sells for just $274. So besides price, what’s the difference between Love Sacks and Lazy Sacks?
Durafoam, used in Love Sacks is made with foam similar to carpet insulation foam while Lazy Sack uses shredded polyurethane foam. This is much softer and more comfortable. Lazy Sacks, like LoveSacs, also are made with microfiber suede.
Lazy Sack offers many more fabric colors than LoveSac. Love Sacks can be purchased in other fabric options, but it costs extra.
You will find that your Lazy Sack beats LoveSac when it comes to comfort, personalization and price!
We are not affiliated with Love Sac® or Lovesac Alternative Furniture Co.
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