Tired of playing with pickleballs he found inconsistent in bounce and durability, Life Time’s (NYSE:LTH) founder and CEO Bahram Akradi decided to take matters into his own hands.
On Friday, the upscale fitness and lifestyle company announced it has created what it dubs “the ultimate pickleball.” Life Time will debut the ball exclusively at the company’s clubs later this month.
“This was a problem with the sport and it needed to be solved, so we basically stepped in and solved it,” Akradi said.
Akradi has gone all in on America’s fastest growing sport since 2021, and he remains bullish on its potential. It’s a key piece of the growth strategy for Life Time, which has seen its stock rise 57% year to date. On Aug. 1, the company raised its full year guidance following a strong second-quarter performance.
Life Time will soon sell the ball at its racquet sports pro shops and online. The company is still determining what the price will be.
Life Time’s “athletic country clubs” boast more than 700 permanent pickleball courts. The company plans to reach 1,000 courts by the end of next year.
LTH shares hiked 43 cents, or 1.8%, to $24.21.
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