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Dive Brief:
- Marking its first entry into an adjacent furniture category, Lovesac on Tuesday introduced AnyTable, a customizable table.
- Created to complement the brand’s “Sactional” couches, the AnyTable can serve as an in-line table, end table or used on its own as a coffee table, per a news release.
- The AnyTable comes in three colorways — Dark Brown, Weathered Grey and Blonde — and can be customized to have shelves or drawers. The products are priced from $995 to $1120 depending on the features and can be purchased separately or as an add-on to a Sactional order.
Dive Insight:
The introduction of AnyTable helps to build out Lovesac’s assortment beyond the sofa and bean bag styles it has become popular for.
"At Lovesac, we invent product platforms and ecosystems that deliver benefits beyond category norms," Lovesac founder and CEO Shawn Nelson said in a statement. "With the addition of the AnyTable, we are excited to offer our customers a new way to build the living room of their dreams.”
Lovesac has been prioritizing innovation this year. In addition to AnyTable, the company introduced the PillowSac Accent Chair in May and the recently redesigned Sactional accessories platform launched this month consisting of new iterations of its drink holders, trays and coasters.
While much of the furniture retail market has struggled after a strong run during the pandemic, Lovesac has still seen sales gains recently. In its latest earnings report, the company reported Q2 net sales grew 1.3% year over year to $156.6 million. However, Lovesac’s losses widened: Operating loss reached $8.3 million from $993,000 in the year-ago period, while net loss was $5.9 million from $635,000 last year.
via https://www.aiupnow.com
Howard Ruben, Khareem Sudlow
