Thursday, March 28, 2024

Oprah Winfrey’s Weight Watchers Stock Value Soars to $400 Million!

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*The number of Weight Watchers International subscribers reportedly jumped close to 29% over the last year, and the diet company credits this massive membership gain to Oprah Winfrey.

With the nation’s most influential celebrity as a major investor, a record 4.6 million people were signed up for Weight Watchers meetings or online for recurring-billing programs as of the end of the first quarter of 2018, up from 3.6 million the same time the previous year, USA Today reports.

“Member engagement has been incredible with members staying longer than ever before. Average retention is now well over nine months,” CEO Mindy Grossman said in a statement. “The world needs a leader in wellness and a brand that can bring wellness to all. We aim to be that leader.”

She linked the jump in membership to the new easier-to-follow Freestyle program, which added 200-plus foods to the list of items with zero SmartPoints.

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As noted by CNN Money, Winfrey’s decision to invest in Weight Watchers (WTW) nearly two and a half years ago has turned out to be a great financial move for the queen of media. She first bought Weight Watchers stock back in October 2015 for $43.5 million. Her investment is now worth more than $400 million.

Winfrey, who is also on the company’s board and is featured in Weight Watchers ads, donated more than 360,000 shares to her charitable organization.

CEO Mindy Grossman told analysts on a conference call in late February that “healthy is the new skinny,” and she made a similar point after Thursday’s earnings report.

“Our purpose is to inspire healthy habits for real life for people, families, communities, the world,” Grossman said. She added that “we want to own the healthy kitchen” and “make healthy cooking accessible to everyone.”

That strategy is clearly working. The company has attracted more men lately because of the new Freestyle offering, including director Kevin Smith and DJ Khaled.

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