November 19, 2020
Jay-Z Partners With Novak Djokovic For New Investment in Fitness Brand CLMBR
Previously, BLACK ENTERPRISE reported on how rapper Shawn “Jay-Z” Carter is expanding his business empire in the cannabis industry. This week, the entertainment mogul is making business moves once again but this time in the realm of fitness.
The entrepreneur and investor is teaming up with tennis player Novak Djokovic to invest in a new innovative fitness brand, CLMBR, vertical climbing machines designed to help consumers build a fitness routine right in their home.
“Vertical climbing has been known to be an incredibly efficient total body workout without impact,” said Novak Djokovic in a press statement sent to BLACK ENTERPRISE. “In addition, it puts your body in a neutral spine alignment, which is important for me as an athlete. The on-demand classes and programmatic workouts are a huge bonus! I’m excited to be part of this team and look forward to sharing this fun and powerful workout with the world.”
The brand will be launching its first two machines—the CLMBR Connected and CLMBR Pure—in 2021 where the duo will come onboard the investment team, which includes venture capital firm KBW-Venture, CEO and Founder of 22 Days Nutrition Marco Borges, and the co-founder of YouTube, Chad Hurley as some of its key members.
“We are excited to work with JAY-Z and Novak to bring the best modality in fitness to consumers,” Avrum Elmakis, founder and CEO of CLMBR, said in a press statement. “Unlike bikes, treadmills, and rowers, CLMBR has less impact on the joints while providing the most efficient calorie burn per minute of any machine in the marketplace. CLMBR disrupts the way that people work out and offers something new in a segment that has not seen a lot of meaningful innovation, and I’m excited to share the machine with consumers around the world as we become the leader in the connected fitness market.”
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