The Lovesac Company Named in Inc.'s First-Annual Best-Led Companies
First-ever roundup of companies that proved management excellence across the middle market
STAMFORD, Conn., Nov. 10, 2021 /PRNewswire/ -- The Lovesac Company (Nasdaq: LOVE) announced that Inc., the world's most trusted business-media brand, today announced its first annual Best-Led Companies list, an exciting 12-point measure of management excellence across the middle market — a select, data-driven list of the very strongest U.S. firms with revenue of $50 million to $2 billion. This novel program is the first Inc. recognition list to honor both public and private companies.
The final list recognizes 250 companies that are agile enough to maneuver but also big enough to have a broad impact. These companies employ 35 million people, about one of four U.S. workers. All 250 companies have a successful track record with leadership teams that spur solid performance, create value, penetrate markets, engage with customers, and more.
"We are delighted to have earned a place on Inc's Best-Led Companies," said Shawn Nelson, CEO of Lovesac. "It's a testament to the committed and capable team we have at Lovesac, and the success of our efforts to make Lovesac an amazing place to work. Our leadership team is tirelessly building on traditions and enhancing every program to enrich our already compelling culture. In the end, it is all the great people at Lovesac who have made it a great place to be."
The news comes after record sales in fiscal 2021 and a strong year-to-date of noteworthy milestones in fiscal 2022 for Lovesac, who recently announced the launch of Sactionals StealthTech Sound + Charge, the first-of-its-kind innovation featuring immersive surround sound by Harman Kardon and hidden wireless charging capabilities. Lovesac also began rolling out a Mobile Concierge service in several markets in early October, a fully equipped mobile showroom that brings a personalized and curated shopping experience to your home. Mobile Concierge will play an important role as the company begins to add new programs supporting the Circle to Consumer operating philosophy, which is focused on creating long-term relationships with customers through long-term focused products and programs.
To be considered for the list, each company had to fill out an application answering questions about its performance, executive team, and leadership. Applicants were then analyzed via an algorithm that identified the very best companies according to their leadership teams' superlative accomplishments in four key areas: performance and value creation; market penetration and customer engagement; talent; and leadership team.
"This inaugural list of companies represents the remarkable midsized companies, both public and private, often founder led, that are at the vanguard of reinventing American business," says Scott Omelianuk, editor-in-chief of Inc. magazine. "With their leadership, we believe all of these businesses will benefit from an exciting, competitive future full of possibilities."
To compile the list, Inc. evaluated private and public U.S.-based companies with a 2020 revenue of $50 million to $2 billion or a valuation of $50 million to $10 billion using a proprietary 12-point measure of management excellence generated with input from partners at Pitchbook and Shango Labs.
To see the complete list, go to: https://www.inc.com/best-led-companies/2021
The November issue of Inc. magazine is available online now at https://www.inc.com/magazine and will be on newsstands beginning November 9, 2021.
The world's most trusted business-media brand, Inc., offers entrepreneurs the knowledge, tools, connections, and community they need to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across various channels, including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 allows the founders of the best businesses to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
About The Lovesac Company:
Based in Stamford, Connecticut, The Lovesac Company is a technology driven company that designs, manufactures and sells unique, high quality furniture derived through its proprietary Designed for Life® approach which results in products that are built to last a lifetime and designed to evolve as our customers' lives do. Our current product offering is comprised of modular couches called Sactionals, premium foam beanbag chairs called Sacs, and their associated home decor accessories. Innovation is at the center of our design philosophy with all of our core products protected by a robust portfolio of utility patents. We market and sell our products primarily online directly at www.lovesac.com, supported by direct-to-consumer touch-feel points in the form of our own showrooms as well as through shop-in-shops and pop-up-shops with third party retailers.
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Released November 10, 2021