WW CEO Talks New Digital 360 App-Based Initiative

WW International Inc WW, formerly known as Weight Watchers, announced Monday the launch of an app-based membership plan that marks the company's first new membership vertical in "recent history," WW CEO Mindy Grossman said on CNBC's "Squawk Box."

New Launch: WW's new Digital 360 membership plan offers a combination of live and on-demand content to motivate users to lose weight and focus on total body wellness. The new initiative follows November's WW+ launch that expanded the company's focus on mindset and sleep.

Related Link: Exclusive: Blue Apron's CEO On Management Turnover, COVID-19 Safety, Standing Out Among Meal Kit Rivals

"It really is around content, coaching, community — and we have seen incredible engagement," the CEO said.

Digital Focus: The COVID-19 pandemic forced every company to pivot online and WW is no exception. In this company's case, the pandemic merely accelerated "what we were already doing," Grossman said.

The company's in-person workshops continue to operate where it is legal and safe to do so. But the focus on digital now gives consumers more freedom to consume WW where and how they want, she said.

Perhaps more important, the technology powering WW's suite of products can help generate personalized programs to offer a better path toward health and wellness.

"We need to meet them where they are and give them choices that are going to work for them," the CEO said. 

WW Price Action: WW shares were down 4.71% at $23.25 at last check Monday.