Business
The Lovesac Company Publishes 2023 ESG Report
STAMFORD, Conn., Dec. 18, 2023 (GLOBE NEWSWIRE) -- The Lovesac Company (Nasdaq: LOVE) (“Lovesac” or the “Company”), the home furnishing brand best known for
About this update from The Lovesac Company
[{"type":"text","content":"STAMFORD, Conn., Dec. 18, 2023 (GLOBE NEWSWIRE) -- The Lovesac Company (Nasdaq: LOVE) (“Lovesac” or the “Company”), the home furnishing brand best known for its Sactionals, The World's Most Adaptable Couch, has released its Environmental, Social & Governance (“ESG”) Report for the 2023 fiscal year ended January 29, 2023. The report highlights Lovesac’s priorities and initiatives on environmental stewardship, social commitments, corporate governance, and community service. Shawn Nelson, Chief Executive Officer, stated, “Lovesac’s ongoing commitment to act responsibility and with integrity in all that we do underpins a deeper purpose. We know that building a beloved brand and a better future for the planet can be one and the same goal. Our Designed for Life (DFL) product platform underscores our ESG focus, with products that are built to truly sustain through the many phases of our customers’ busy lives. We believe that this DFL approach leads to less waste, reduced consumption of material resources, and happier customers. We are proud to share our progress on the continued integration of ESG policies and procedures into our business practices and the culture of the organization. Through our ESG pillars of Earth, Love, and Purpose, we frame a series of compassionate brand goals. With each passing year we plan to make further strides in running even more sustainable and socially responsible operations.” Lovesac’s ESG framework relies on aspects of the Sustainability Accounting Standards Board (SASB) Building Products and Furnishings and Multiline and Speciality Retailers & Distributors standard. The strategy also takes inspiration from the United Nations Sustainable Development Goals to align Lovesac’s strategic purpose with global social and environmental priorities. This latest ESG report includes Lovesac’s progress to meeting their long-term environmental, social, and purpose-focused goals. Key highlights include: ESG targets focus on three key pillars which Lovesac designates as Earth, Love, and Purpose. The report covers plans for ESG improvements in these areas over the next two decades.EARTH: Lovesac has committed to repurpose 1 billion plastic bottles in its products’ fabric and materials through a partnership with REPREVE®. By the end of Lovesac’s fiscal year 2023, the partnership resulted in a total of more than 150 milli...