Dive Transient:
- Marking its first entry into an adjoining furnishings class, Lovesac on Tuesday launched AnyTable, a customizable desk.
- Created to enrich the model’s “Sactional” couches, the AnyTable can function an in-line desk, finish desk or used by itself as a espresso desk, per a information launch.
- The AnyTable is available in three colorways — Darkish Brown, Weathered Gray and Blonde — and may be personalized to have cabinets or drawers. The merchandise are priced from $995 to $1120 relying on the options and may be bought individually or as an add-on to a Sactional order.
Dive Perception:
The introduction of AnyTable helps to construct out Lovesac’s assortment past the couch and bean bag kinds it has develop into well-liked for.
“At Lovesac, we invent product platforms and ecosystems that ship advantages past class norms,” Lovesac founder and CEO Shawn Nelson mentioned in an announcement. “With the addition of the AnyTable, we’re excited to supply our clients a brand new technique to construct the lounge of their goals.”
Lovesac has been prioritizing innovation this yr. Along with AnyTable, the corporate launched the PillowSac Accent Chair in Might and the just lately redesigned Sactional equipment platform launched this month consisting of latest iterations of its drink holders, trays and coasters.
Whereas a lot of the furnishings retail market has struggled after a robust run through the pandemic, Lovesac has nonetheless seen gross sales positive factors just lately. In its newest earnings report, the corporate reported Q2 internet gross sales grew 1.3% yr over yr to $156.6 million. Nonetheless, Lovesac’s losses widened: Working loss reached $8.3 million from $993,000 within the year-ago interval, whereas internet loss was $5.9 million from $635,000 final yr.