In 2013, Lovren founded a fashion brand Russell Brown with his best man Lovro Krčar. Three years after, the brand was shut down due to unknown reasons. Rumours suggest that the reason for the closure was due to a poor relationship between Lovren and Krčar. In May 2018, he founded another brand Rock Filius. On 29 May 2018, Lovren opened a four star hotel Joel in Novalja, near Zrće. Lovren has stated that the hotel is named after Josip and Elena. On 29 December 2020, Lovren offered free temporary accommodation in the hotel for sixteen families who lost their homes in the 2020 Petrinja earthquake.