Frustrated with the inconsistency in bounce and durability of pickleballs on the market, Life Time’s CEO Bahram Akradi took matters into his own hands. The upscale fitness and lifestyle company recently unveiled what they are calling “the ultimate pickleball,” set to debut exclusively at their clubs later this month. Akradi saw a problem within the sport and decided to solve it by creating a better, more reliable pickleball for players to enjoy.

Pickleball has been rapidly growing in popularity in America since 2021, and Akradi believes in its potential for even further expansion. This new pickleball is not just a passion project for Akradi, but also a key part of Life Time’s growth strategy. With the company’s stock rising 57% year to date, the introduction of the ultimate pickleball could be a lucrative move for Life Time.

Life Time has already made a significant investment of between $50 million and $100 million in pickleball. The sport currently contributes 6% to 7% of the company’s membership dues, further underlining the importance of pickleball within Life Time’s offerings. The company plans to expand its number of permanent pickleball courts from over 700 to 1,000 by the end of 2025, ensuring that players have the right venues and experiences to enjoy the sport.

In an effort to elevate pickleball even further, Life Time has made strategic partnerships in the industry. The company hosts professional tournaments for Major League Pickleball and the Professional Pickleball Association, showcasing top talent in the sport. While these organizations currently use Vulcan as their official ball, Akradi hopes that the ultimate pickleball created by Life Time will become the new standard in the future. Additionally, the recent partnership with Lululemon as the official apparel sponsor for tennis and pickleball shows Life Time’s commitment to growing the sport with the help of industry leaders like Andre Agassi and Ben Johns.

Life Time’s foray into creating the ultimate pickleball is not just about solving a problem within the sport; it’s a strategic move to solidify their position as a leader in the industry. By investing in excellence, promoting partnerships, and providing top-notch venues for pickleball players, Life Time is taking the sport to the next level and reshaping the pickleball experience for players nationwide.

Business

Articles You May Like

Market Trends: Analyzing Recent Movements in Stocks and Investment Strategies
Walmart’s Shift Away from Diversity Initiatives: A Critical Analysis
Dell Technologies Faces Mixed Results Amid Promising AI Growth
Dividend Stocks for Stability Amid Market Volatility

Leave a Reply

Your email address will not be published. Required fields are marked *