Increases foam contouring capacity by 100%
ATLANTA, GA / ACCESSWIRE / October 22, 2020 / Luvu Brands, Inc. (OTCQB:LUVU), a designer, manufacturer and marketer of a portfolio of consumer lifestyle brands, today announced that it has ordered a new CNC foam contouring system from a European supplier for delivery in early 2021.
This foam contouring system effectively doubles the Company's current foam fabrication capacity and should remove a significant bottle-neck in the Company's production throughput. The additional capacity is needed to support the current growth of all three of the Company's major brands including, Liberator®, Jaxx® and Avana®. At a cost of $325,000, this machine will be in addition to the Company's first CNC contouring system that it purchased from the same vendor in 2006. The new CNC foam contouring system has been ordered and is expected to be delivered and installed in March, 2021.
Louis Friedman, Chairman and Chief Executive Officer, commented, 'Our first CNC foam contouring system from this European vendor has been a cornerstone of our production operation and has provided us with many years of trouble-free operation. The order volume for all three of our brands has grown to the point where a single machine is no longer able to keep pace. This second CNC machine will effectively double our foam fabrication throughput, increase the amount of repurposed foam trim that will be available to sell in Jaxx beanbags, and a single operator will be able to run both machines at the same time. '
About Luvu Brands
Luvu Brands, Inc. designs, manufactures and markets a portfolio of consumer lifestyle brands through the Company's websites, online mass / drug merchants and specialty retail stores worldwide. Brands include: Liberator , a brand category of iconic products for enhancing sensuality and intimacy; Avana, medical and personal PPE products and inclined bed therapy products, assistive in relieving medical conditions associated with acid reflux, surgery recovery and chronic pain; and Jaxx, a diverse range of casual fashion daybeds, sofas and beanbags made from virgin and re-purposed polyurethane foam. All polyurethane foam products are shipped vacuum compressed to save on shipping and reduce our carbon footprint. Headquartered in Atlanta, Georgia, the Company occupies a 140,000 square foot vertically-integrated manufacturing facility and employs over 200 people. The Company's brand sites include: www.liberator.com, www.jaxxliving.com, www.avanacomfort.com plus other global e-commerce sites. For more information about Luvu Brands, please visit www.luvubrands.com.
Luvu Brands, Inc.
Chief Financial Officer
SOURCE: Luvu Brands, Inc.
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