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LOVE - Wall Street Loves Lovesac But Customer Love Appears To Be Waning
The Lovesac Company
The Lovesac, a provocatively-named, eight-foot wide, Durafoam-filled bean bag chair, was invented in 1995 by then 18-year old Shawn Nelson in his parents’ basement. Mr. Nelson founded The Lovesac Company (LOVE) in 1998 to make and market Lovesacs as a business. The Lovesac’s irreverent name, outlandish size and styles and the company’s effective guerilla marketing made it a cult favorite among teens, Silicon Valley entrepreneurs and celebrities. While I am in neither of those three camps, I bought a Lovesac in 2005, and my family continues to enjoy it to this day. (That