Yogibo

Last updated
Yogibo LLC.
Company type Private
Industry Home furnishings and lifestyle
Founded2009;15 years ago (2009) in Nashua, New Hampshire United States
Founder Eyal Levy
Headquarters,
Number of locations
130 stores (2022)
Area served
Worldwide
Website yogibo.jp Japan yogibo.com USA

Yogibo is a lifestyle furniture retailer, specializing in bean bag chairs and accessories. It also sells dog beds and Jogoball, an audio gaming console.

Contents

An Yogibo Old Logo of 2009-10 Yogibo 2009 - 2010 Logo.jpg
An Yogibo Old Logo of 2009-10

As of March 2023, Yogibo has reduced from over US$60 million in retail sales and over 130 retail outlets worldwide to an online only retailer. [1]

History

An Yogibo Old Logo from 2010s Yogibo 2010s Logo.png
An Yogibo Old Logo from 2010s

Yogibo was created in early 2000s by Eyal Levy, when his wife was trying to find a way to make her pregnancy comfortable. In 2009, the company started operating in Nashua, New Hampshire and opened its first store in Natick, Massachusetts in 2010. The company has retail stores in the United States and has expanded in Canada, Japan, South Korea, Taiwan, Thailand and more through distribution in those countries. [2] [3] [4] [5] Yogibo's manufacturing facility is located in Nashua, New Hampshire. [6]

An Yogibo Store in South Korea YogiboKoreaStore.png
An Yogibo Store in South Korea

Yogibo was the first certified sensory-inclusive retail chain in collaboration with KultureCity, a company which certifies and provides training to organizations. The two companies have collaboratively built sensory rooms in NBA, NFL, and MLB arenas in the country. [7]

In 2016, Yogibo held the Guinness world record for the world's largest bean bag chair. [8] In the same year, Yogibo established a subsidiary in Korea, Yogibo Korea, Inc. David Park of the co-founding company is a close friend of Levy. The name "Yogibo" is pronounced the same as "여기보" in Korean. Its meaning is 'Look Here'. "We think it'll be a great fit" Levy said at time. [9]

An Yogibo Store in Conquitlam, Canada Yogibo Canada in Coquitlam Centre (23783073753).jpg
An Yogibo Store in Conquitlam, Canada

In 2019, Yogibo partnered with Lucasfilm and Disney to introduce a Star Wars furniture collection. [10] [11] In November 2020, the company introduced Jogoball, a screen-less interactive game ball. It uses a six-axis motion detection technology and smart audio technology that pairs with a mobile application. [12] [13]

On December 30, 2021, Yogibo LLC was acquired by its Japanese distributor, Webshark. [14] On August 1, 2022, Webshark changed its name to Yogibo Inc. [15]

Reception

Reception to the company's bean bag chairs has been mostly positive. According to The Gadgeteer, the Yogi Max bean bag offered by Yogibo is flexible, allowing the user to "contort the bean bag into all sorts of shapes depending on how [they] want to relax in it." [16] As per The Parent Spot magazine, Yogibo uses foam pellets to fill their bags as opposed to ripped up foam material, leading to a more comfortable experience as the pellets mold around your body. [17]

An Yogibo Store in Nagoya Sakae Yogibo Store Nagoya Sakae - 2.jpg
An Yogibo Store in Nagoya Sakae

The company has also received praise for its sensory-inclusive design, with Autism Parenting magazine naming Yogibo bean bag chairs "a must have" for children with autism. [18]

The company's products turn into beds and sofas when used in large sizes. It is also popular with housewives because it is light in weight and easy to carry. [19]

Dispute

An Yogibo in Lalaport Kadoma Yogibo Lalaport Kadoma.jpg
An Yogibo in Lalaport Kadoma

A Kickstarter project for a product called the Moon Pod, started by John Fiorentino, was sent a cease-and-desist letter by Yogibo in November 2019 for using a similar design to Yogibo's patented bean bag chairs. Fiortentino states he never claimed "invention" of the design and that his company was working on a patent. [3]

Scandals

On January 3rd, 2022, a lawsuit was filed by former employee and whistleblower David Kohlenberger with the United States District Court for the District of Massachusetts stating that under the direction of CEO Eyal Levy and COO Brett Heppler, between February 2016 and December 2022, Yogibo avoided customs fees by withholding invoices from their customs broker.

As a result, Yogibo must pay $217,832.41 plus interest accruing annually at a rate of 5.25% starting from May, 2023 [20]

Withdrawal from Super GT Racing

The Japan Branch of Yogibo Inc, formerly Webshark, participated in Super GT racing. As of February 2024, the company has withdrawn citing "Change in corporate strategy." [21] [22]

Related Research Articles

<span class="mw-page-title-main">Beanie Babies</span> American brand of stuffed toys

Beanie Babies are a line of stuffed toys created by American businessman Ty Warner, who founded Ty Inc. in 1986. The toys are stuffed with plastic pellets ("beans") rather than conventional soft stuffing. They come in many different forms, mostly animals.

<span class="mw-page-title-main">Animate (retailer)</span> Japanese anime, video game, and manga retailer

Animate Ltd. is the retailing arm of MOVIC and is the largest retailer of anime, video games and manga in Japan. The first and flagship store of Animate was opened in 1983 in Ikebukuro, a district in Tokyo, Japan.

Williams-Sonoma, Inc. is an American publicly traded consumer retail company that sells kitchenware and home furnishings. It is headquartered in San Francisco, California, United States. The company has 625 brick and mortar stores and distributes to more than 60 countries, with brands including Williams Sonoma, Williams Sonoma Home, Pottery Barn, Pottery Barn Kids, PBteen, West Elm, Mark and Graham, and Rejuvenation. Williams-Sonoma, Inc. also operates through eight corresponding websites and a gift registry.

La-Z-Boy Inc. is an American furniture manufacturer based in Monroe, Michigan, United States, that makes home furniture, including upholstered recliners, sofas, stationary chairs, lift chairs and sleeper sofas. The company employs more than 11,000 people.

<span class="mw-page-title-main">MFI Group</span> Defunct British furniture retailer

MFI Group Limited was a British furniture retailer, operating under the MFI brand. The company was one of the largest suppliers of kitchens and bedroom furniture in the United Kingdom, and operated mainly in retail parks in out of town locations. Anecdotally, it was said at one stage that one in three Sunday lunches in the United Kingdom were cooked in a kitchen from MFI, and 60% of British children were conceived in a bedroom from MFI.

<span class="mw-page-title-main">Jordan's Furniture</span> American furniture retailer

Jordan's Furniture is an American furniture retailer in New England. There are currently eight retail locations—three in Massachusetts and five in other New England states —plus a corporate office and warehouse in East Taunton, Massachusetts. Since 1999, the company has been a wholly owned subsidiary of Berkshire Hathaway.

<span class="mw-page-title-main">YesAsia</span>

YesAsia is an online retail company founded in 1998 that sells Asian entertainment products worldwide. After initially focusing on CD and video retailing, it has expanded into other entertainment and hobby products such as manga, video games and consoles, electronics and toys.

Broccoli Co., Ltd. is a Japanese media company that publishes manga, anime, video games and trading card games. It operated a chain of retailers in Japan called Gamers which carries similar products and accessories. Broccoli is best known for their Di Gi Charat, Galaxy Angel and Aquarian Age franchises.

Frasers Group plc is a British retail, sport and intellectual property group, named after its ownership of the department store chain House of Fraser.

<span class="mw-page-title-main">Jennifer Furniture</span> American furniture retailer

Jennifer Furniture is an American retail company, based in Great Neck, New York. The company is owned by John Garg and the Namdar Realty Group.

<span class="mw-page-title-main">Anya Hindmarch</span> English fashion accessories designer (born 1968)

Dame Anya Susannah Hindmarch, is an English fashion accessories designer who founded an eponymous company, of which she is CEO. Hindmarch published her first book, If In Doubt Wash Your Hair in May 2021, a Sunday Times bestseller.

<span class="mw-page-title-main">The Room Store</span>

The Room Store was a chain of furniture retail stores in the eastern and southern United States, which operated from 1992 to 2012. The company, which was owned by RoomStore, Inc., specialized in retailing all the pieces of furniture for an entire room rather than individual pieces of furniture. For example, a table may have been sold with chairs and other dining room accessories in a package rather than a table alone. The Room Store was ranked as one of the top 25 furniture retailers in the United States. A similar chain with the same name operated stores in Arizona from 1993 to 2016.

<span class="mw-page-title-main">Bean bag</span> Sealed bag containing dried beans or pellets

A bean bag is a sealed bag containing dried beans, PVC pellets, expanded polystyrene, or expanded polypropylene. The bags are commonly used for throwing games, but they have various other applications.

<span class="mw-page-title-main">Reusable shopping bag</span> Shopping bag designed to be kept and reused by consumers

A reusable shopping bag, sometimes called a bag for life in the UK, is a type of shopping bag which can be reused many times, in contrast to single-use paper or plastic shopping bags. It is often a tote bag made from fabric such as canvas, natural fibres such as jute, woven synthetic fibers, or a thick plastic that is more durable than disposable plastic bags, allowing multiple use. Other shoppers may use a string bag or a wheeled trolley bag. They are often sold in supermarkets and apparel shops.

A plastic bag ban or charge is a law that restricts the use of lightweight plastic bags at retail establishments. In the early 21st century, there has been a global trend towards the phase-out of lightweight plastic bags. Single-use plastic shopping bags, commonly made from low-density polyethylene (LDPE) plastic, have traditionally been given for free to customers by stores when purchasing goods: the bags have long been considered a convenient, cheap, and hygienic way of transporting items. Problems associated with plastic bags include use of non-renewable resources, difficulties during disposal, and environmental impacts. Concurrently with the reduction in lightweight plastic bags, shops have introduced reusable shopping bags.

<span class="mw-page-title-main">Nick Scali Furniture</span> Australian furniture retail chain

Nick Scali Limited is a publicly listed Australian company that imports and retails furniture such as lounge suites, dining tables, coffee tables, chairs, and entertainment units. It was founded in 1962 by Nick D. Scali.

<span class="mw-page-title-main">Arhaus</span> American furniture chain based in Ohio

Arhaus, Inc. is an American retail chain that designs and sells home furnishings online and through its retail stores and catalogs. The company is headquartered in Boston Heights, Ohio.

<span class="mw-page-title-main">Weighted blanket</span> Type of blanket

A weighted blanket is an especially heavy blanket that is used to aid sleep and reduce anxiety. Initially, weighted blankets were most commonly used as therapeutic tools to assist individuals with autism spectrum disorders (ASD), dementia, and mental health conditions. They have subsequently become a mass-market product. Scientific evidence does not support their use as an aid for insomnia, and they can be dangerous, particularly for children.

<span class="mw-page-title-main">Furniture retailer</span> Company selling furniture

A furniture retailer, furniture store or furniture shop is a retail businesses that sells furniture and related accessories. Furniture retailers usually sell general furniture, seats and upholstered suites, and specialised items produced for a commission. They may sell a range of styles to suit different homes and personal tastes, or specialise in particular styles like retro style furniture.

Greenlit Brands, formerly Steinhoff Asia Pacific Group, is the Australian subsidiary of Steinhoff International. It owns the furniture retailers Fantastic Furniture and Freedom Furniture.

References

  1. "Yogibo Website".
  2. Genovese, Daniella (13 July 2020). "What is Yogibo?". FOX Business .
  3. 1 2 Buchanan, Leigh (22 March 2019). "Yogibo Founder Says Moon Pod's $1.3 Million Kickstarter Project Ripped Off Its Idea". Inc.com .
  4. Staff (November 29, 2016). "Retailer Yogibo Celebrates Its Arrival in South Korea". PR Web .
  5. Stories, Local (June 5, 2017). "Meet Eyal Levy of Yogibo". Boston Voyager.
  6. Staff (August 26, 2012). "Yogibo, a startup that sells beanbag furniture, takes the hands-on route". Nashua Telegraph .
  7. Wilson, Marianne (December 13, 2019). "Modular furniture retailer Yogibo makes history". Chain Store Age.
  8. Records, Guinness World (15 November 2016). Guinness World Records 2017. p. 98. ISBN   978-1-910561-66-9.
  9. "Yogibo bean bags to launch in Korea". Inside Retail . 11 December 2016.
  10. Houghton, Kimberly (November 1, 2019). "New Star Wars collection released by Nashua's Yogibo". Union Leader .
  11. Damewood, Cassie (November 15, 2019). "Yogibo's New Star Wars-Inspired Furniture Collection Puts Comfort First". Yahoo! News.
  12. Solorzano, Sergio (11 November 2020). "Yogibo, Yes The Bean Bag Company, Has A Gaming Console". The Gamer .
  13. "Yogibo Introduces a New Spin on Family Game Night". Press Release. November 6, 2020.
  14. 米国「Yogibo」本体、Yogibo LLC 社の買収について - 株式会社Yogibo
  15. 【株式会社Yogibo】へ社名変更のお知らせ - 株式会社Yogibo
  16. Strietelmeier, Julie (July 8, 2013). "Yogibo Yogi Max Bean Bag Chair review". The Gadgeteer.
  17. Charles (9 December 2015). "Yogibo Max Review - Comfort in a Giant BeanBag You'll Love". The Parent Spot.
  18. Tobik, Amy (9 July 2014). "Review: Yogibo – Using Bean Bags for Sensory Soothing". Autism Parenting Magazine.
  19. oimo (9 May 2022). "Yogibo Midi Functional Review". bead sofa.
  20. "US vs Yogibo".
  21. "Yogibo Racing Suspends SUPER GT Participation". www.dailysportscar.com.
  22. Klein, Jamie (2024-02-08). "Honda GT300 Team Yogibo Racing Announces Withdrawal – Sportscar365". sportscar365.com.