Our ESG Goals & Progress
Our Zero Waste and Zero Emissions Commitment
To us, the only measure of success is zero.
Our Billion Bottle Goal
We aim to become one of the largest repurposers of plastic bottle waste in our product category. By 2040, our target is to repurpose one billion plastic bottles in our product fabrics.
In FY24 alone, Lovesac diverted approximately 73,194,000 bottles from landfills by using REPREVE®.
That's equivalent to:
Love Matters
OUR LOVE MATTERS MISSION STATEMENT
Love. It’s the name we live up to.
We champion building meaningful relationships as we foster a culture that embraces and celebrates the experiences, beliefs, backgrounds, expertise, talent, and individuality of everyone. We purposefully and meaningfully weave love into every aspect of our business.
We seek to promote love, inclusion, and happiness in all that we do. #Lovematters
Fiscal 2024 Targets Summary
As an organization that places high value on our people, our customers, and our communities, ESG goal setting is essential to our future growth. We aim to be as transparent as possible to our stakeholders about our continued progress on these commitments. As with any new endeavor, we are continuously growing and learning on this journey. Changes in our direction or strategy related to any of our targets may be necessary to achieve the greatest positive impact.
The table below lists the long-term targets that we have committed to achieving. Notice that some targets may have different baseline reporting years. The baseline year is determined by the year when Lovesac began reporting data for the specified target. (This is not the complete list of our targets, which can be found in the full FY24 ESG and Impact Report)
Targets have been anchored with our top executives and are regularly reviewed by our Board of Directors.
1 We have updated the way we calculate our Love Matters metrics compared to previous years. This new calculation includes only those Associates who were with us through the last day of the reported fiscal year.
2 BIPOC stands for Black, Indigenous, and People of Color as determined by self-identification upon onboarding.
3 Leadership role reflects the SASB definition as any person with a manager title or reports to a middle manager.
4 Annual incident rate is a measure of the OSHA Total Recordable Incident Rate of injury and illnesses
5 Lovesac underwent third-party, limited assurance of FY24 Scope 1 and Scope 2 (market and location-based) emissions and total energy data in FY24. For further details on our emissions calculation methods and determination of organizational boundaries please refer to Appendix.
6 Lovesac purchased renewable energy credits through the North American Renewables Registry equal to 6,500 RECs in FY24.
7 Market-based and location-based emissions definitions can be found in FY24 report, page 31
8 t = Metric Tons
9 Certified sustainable wood includes wood and wood fiber materials that carry a certification for being ethically and/or sustainably sourced Such certifications may include Forest Stewardship Council (FSC), Sustainable Forestry Initiative (SFI), Programme for the Endorsement of Forest Certification (PEFC, and others.
10 Bottle count is rounded down to the nearest thousand bottles. We have also updated our methodology from last year to more conservatively account for possible duplication of some orders.
11 Side insert packaging % based on total weight.
12 FY24 is the baseline for this target so there is no % change to display.