Lovesac shares progress on environmental, social, corporate goals

STAMFORD, Conn. — Home furnishings brand Lovesac has outlined a set of goals for environmental and social stewardship, corporate governance and community service in its latest ESG report, covering areas such as recycling, women in leadership and sustainability.

Brand goals fall within three pillars: earth, love and purpose.

Among its earth-related goals, the company is committed to repurposing 1 billion plastic bottles in its products’ fabrics and materials through a partnership with Repreve. Lovesac has currently repurposed as many as 200 million bottles, an increase of  80% since 2021.

It also is pledging to increase the number of women in leadership roles, which has grown by 25% since fiscal 2022.

Under the heading of purpose, Lovesac is using its Sustainable Supply Chain Program to share education and resources on environmental impact management and ethical business practices with its manufacturing partners.

Other highlights from the year include expanding associate training programs, with a 28% increase in employee development hours over last year, and increasing the energy efficiency measures in showrooms through the use of LED lighting and energy management systems.

“Lovesac’s ongoing commitment to act responsibly and with integrity in all that we do underpins a deeper purpose,” said CEO Shawn Nelson. “We know that building a beloved brand and a better future for the planet can be one and the same goal.”

He said the company’s Designed for Life platform “underscores our ESG focus” and “leads to less waste, reduced consumption of material resources and happier customers.”

Future initiatives outlined in Lovesac’s ESG report include introducing parental leave for associates, enhancing short-term disability, expanding associate development through actions such as a trainer university program, building on DEI programs with initiatives such as DEI hangouts where associates can share experiences and discuss relevant topics, exploring more sustainable sourcing solutions, and furthering development of ethical forestry sourcing requirements for wood suppliers.

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