Life Time, a fitness club company with a significant stake in pickleball, develops its own ball for the rapidly growing sport.
- The CEO and founder of Life Time stated that the company has developed a more powerful and quick ball for the growing sport of pickleball.
- The chain of "athletic country clubs" has invested heavily in pickleball.
- Life Time's stock is up 57% year to date.
Bahram Akradi, the founder and CEO of the company, grew tired of the inconsistent bounce and durability of pickleballs and decided to take matters into his own hands.
The upscale fitness and lifestyle company, Life Time, announced the creation of its "ultimate pickleball" which will be exclusively debuted at its clubs in August.
Akradi stated that the issue with the sport required resolution, so we intervened and resolved it.
Akradi has fully invested in the sport that has been rapidly expanding in America since 2021, and he remains optimistic about its future prospects. This is a crucial element of Life Time's growth strategy, which has experienced a 57% increase in stock value year to date. On August 1, the company increased its full-year forecast after a strong second-quarter performance.
The racquet sports pro shops and online platform of Life Time will soon offer the ball for sale, with the company yet to decide on the price.
By the end of 2025, Life Time aims to have over 1,000 permanent pickleball courts in its "athletic country clubs." Currently, the company already has more than 700 courts.
Akradi stated that our objective is to offer the appropriate venues, experience, and consistency for individuals to play.
Life Time has invested between $50 million and $100 million in pickleball, resulting in 6% to 7% of their membership dues.
Major League Pickleball and Professional Pickleball Association tournaments are hosted by Life Time at its clubs. While Vulcan is currently the "official ball" of these professional organizations, Akradi aims to replace it in the future.
The company announced Lululemon as its official apparel sponsor for tennis and pickleball in May.
The company has collaborated with tennis legend Andre Agassi and top-rated pickleball player Ben Johns to expand the sport.
Business News
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