May 8,2024 | by Brandon Doerrer
EXCLUSIVE: The Omnicom Media Group agency beat several holding companies in the pitching process.
Furniture retailer Lovesac has appointed Omnicom Media Group’s Hearts & Science as its media agency of record following a pitch that involved multiple holding companies, Campaign US has learned.
Hearts & Science’s remit includes integrated media strategy, planning, buying and measurement in the U.S. Marketsmith previously handled the account.
Marketsmith didn’t immediately respond to requests for comment.
There was no consultant involved in the pitch.
Lovesac’s U.S. media account was valued at $76 million in 2023, per Comvergence.
The furniture brand chose Hearts & Science due to the agency’s experience with retail businesses and its access to the Omni data platform, according to a source.
In November, Lovesac reported increasing its advertising and marketing spend by 39% YoY, from $19.1 million in its fiscal Q2 2023 to $26.5 million in its fiscal Q2 2024. It opened 50 showrooms in 2023, bringing its total to more than 200 in the U.S.
In February, Shawn Nelson, CEO of Lovesac, told ModernRetail that it’s using gaming, sports and fashion to court Gen Z buyers, despite the high price tag attached to its products.
