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Life Time fitness is all in on pickleball. It is all part of the upscale fitness company's strategy to grow its brand by investing in pickleball. To continue that goal, Life Time on Tuesday announced it is teaming up with Lululemon , naming the company as an official apparel partner of Life Time pickleball and tennis. The relationship includes selling Lululemon apparel online at Life Time clubs, in addition to collaborating on key pickleball events. Life Time CEO and founder Bahram Akradi, an avid pickleball player himself, is betting that the hot, tennis-like sport will be that catalyst.
Persons: Ben Johns, Anna Bright, Andre Agassi, Celeste Burgoyne, Bahram Akradi Organizations: Penn Locations: Madison, New York City, pickleball, Americas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Exclusive: Life Time CEO Bahram Akradi on Q1 earnings beat and the wellness economyLife Time CEO Bahram Akradi joins CNBC's Brandon Gomez to discuss the company's first-quarter results with the best engagement and retention levels in the company's history. They also talk GLP-1 drugs, consumer trends and the impact of rising rates on management costs.
Persons: Bahram Akradi, CNBC's Brandon Gomez Organizations: CNBC
New York CNN —America’s gyms are adjusting their strategies as more of their members take weight loss drugs. JPMorgan researchers estimate that 30 million people may be taking GLP-1 drugs by 2030, or around 9% of the US population. For now, GLP-1 medications are prohibitively expensive for most Americans, costing about $1,000 or more a month. (Ozempic has not been approved for weight loss by regulators, though Wegovy, a similar drug, has.) It also made a $100 million-plus deal to buy Sequence, a telehealth business that offers virtual prescriptions to patients for these weight loss drugs where appropriate.
Persons: , Simeon Siegel, Bahram Akradi, , Amanda Edwards, ” Siegel, Rick Caro, Jaap Arriens, WeightWatchers Organizations: New, New York CNN, Boomers, JPMorgan, Fitness, BMO Capital Markets, Management, Industries Locations: New York, Ozempic, Barre, Southern California
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLife Time CEO Bahram Akradi on Q4 earnings and GLP-1 weight-loss drugsLife Time CEO Bahram Akradi joins 'The Exchange' to discuss trends at the intersection of fitness and GLP-1 drugs, consumer trends and more.
Persons: Bahram Akradi
Will gym stocks be hurt by an "Ozempic effect" similar to the blow that has rocked the medical device and food sector? Stock in Planet Fitness has slipped more than 16% from the start of the year, while Life Time has added roughly 20%. Planet Fitness sunk to a 52-week low in September after the company's board ousted Chris Rondeau as chief executive officer . PLNT YTD mountain Planet Fitness stock. At Life Time, anti-obesity medication is being incorporated into the weight loss programs it offers to members.
Persons: Simeon Siegel, it's, Jefferies, Chris Rondeau, Bahram Akradi, Warren Cheng, PLNT, Cheng, Jeff Zwiefel, Alexander Perry's, Perry, Curtis Harman, Harman, It's, Piper Sandler, Korinne Wolfmeyer, Wolfmeyer Organizations: BMO Capital Markets, ISI, Bank of America, GLP, Wellness, CNBC, Holdings, Nordisk's Ozempic
Life Time CEO Bahram Akradi talks quarterly earnings with Jim CramerLife Time CEO Bahram Akradi joins 'Mad Money' host Jim Cramer to talk quarterly earnings and the stock falling significantly this week.
Persons: Bahram Akradi, Jim Cramer
Life Time Group shares plummeted 15% Wednesday after the company's third-quarter results revealed higher spending to boost the premium member experience. The cost of running its fitness centers, including new and ramping locations, rose 8.2% year over year during the quarter to $319.4 million, the company said. The program changes are an attempt to keep Life Time's affluent customer base satisfied as prices rise across the board and many consumers increasingly value premium offerings. Life Time increased its prices at many of its locations in recent years, though pricing varies by market. "We aren't taking advantage of all the different connections we have and all the different programs we have, so there is essential work being done to systematize all of that."
Persons: Bahram Akradi, , Akradi Organizations: Time Group, Lifetime
Planet Fitness races against rate hikes
  + stars: | 2023-09-18 | by ( ) www.reuters.com   time to read: +2 min
View of the Planet Fitness logo at the their location in Clifton, New Jersey, U.S., January 6, 2023. REUTERS/Jennifer Saba Acquire Licensing RightsNEW YORK, Sept 18 (Reuters Breakingviews) - Planet Fitness (PLNT.N) is struggling to adapt to a high-interest-rate diet. Under Rondeau, Planet Fitness benefited from a post-pandemic exercise rebound, notching annual sales growth of over 40% in the last two years as location count expanded by 13%. Its stock is up 32% this year, while Planet Fitness’s is down by roughly the same amount. Life Time boss Bahram Akradi said his old approach of keeping prices low was a “mistake.” Planet Fitness can fix the same error.
Persons: Jennifer Saba, Chris Rondeau, Rondeau, Fitness’s, Bahram Akradi, Anita Ramaswamy, Jonathan Guilford, Sharon Lam, Aditya Sriwatsav Organizations: REUTERS, Reuters, Planet, X, Thomson Locations: Clifton , New Jersey, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLife Time CEO Bahram Akradi discusses fitness spending trends amid high inflationBahram Akradi, CEO Of Life Time, joins 'The Exchange' to discuss building a gym membership, the unique offering that Life Time Fitness offers, and fitness spending amid inflation times.
Life Time Group CEO: We will break all our records in 2023
  + stars: | 2023-01-10 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLife Time Group CEO: We will break all our records in 2023Life Time founder and CEO Bahram Akradi joins 'Squawk Box' to discuss the growth in pickleball for LifeTime, the surge in memberships at the beginning of the year, and more.
The latest numbers unveiled in the 2023 APP Pickleball Participation report, via a study conducted by YouGov, shows that 14% of Americans played pickleball at least once in that 12-month period. The real dillAcross the country, tennis courts and being replaced, and pickleball courts are moving in as other investors are shoring up big money. Since 2022, Life Time has constructed indoor and outdoor pickleball courts at a rate of five new permanent courts each week. "Pickleball participation [at Life Time] in a given month has risen from about 16,000 people to like 160,000. Major League Pickleball and the Professional Pickleball Association took notice and they have partnered with Life Time to host multiple tournaments across the country this year.
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