EZZ continues to expand its product range with three new launches so far in 2024. Pic: Getty Images.
Health & Biotech
Special Report: Genomic life science company EZZ Life Science is continuing to expand its product line with the launch of three new products approved by the Therapeutic Goods Administration (TGA).
EZZ Life Science (ASX: EZZ) has launched three new Australian-made products as it moves to expand its range of health supplements, health food, haircare, children’s health and probiotics under its EZZ brand.
The company now has a total to 51 EZZ-branded products. It also has exclusive distribution rights for the EAORON brand of skin care products to pharmacies, supermarkets and specialist retailers in Australia and New Zealand.
The new products include:
EZZ Hair Protector
The product has been designed to nourish and strengthen hair. Formulated with biotin and pyridoxine hydrochloride, EZZ Hair Protector aims to promote hair health, reduce breakage, and enhance overall hair health.
EZZ Sugar Metabolism
With a growing focus on holistic health, EZZ Sugar Metabolism is crafted to support healthy sugar metabolism and maintain balanced blood sugar levels. The company says the blend of natural ingredients works synergistically to support glucose use.
EZZ Mount Peak III
EZZ says as people turn to supplements to enhance their performance levels, the EZZ Mount Peak III advanced formula supports endurance and recovery. Fitness enthusiasts can benefit from carefully-selected ingredients like zinc oxide, which may enhance physical stamina, reduce fatigue and promote faster recovery after intense workouts.
Chairman Glenn Cross says the new products are a result of research identifying the needs of consumers both in Australia and its overseas markets.
In FY23, more than 70% of EZZ’s revenue stemmed from exports, with approximately 30% originating from domestic sources within Australia.
“Of that 70% export revenue a sizeable proportion is from mainland China, but we also sell to consumers in the United States, Mexico, Indonesia and Vietnam. There are a few emerging export markets, such as countries within Europe, as well,” Cross says.
EZZ sells its products extensively on line through its own Shopify-powered website but also on other popular e-commerce channels including Tmall Global and Douyin, mainland China’s version of TikTok, as well as a number of local marketplaces in Australia such as Amazon and eBay Australia.
The company in October announced a launch announced a collaboration on the online marketplace of Chemist Warehouse, Australia’s largest pharmacy retailer.
Leveraging influencers and communities to grow its B2C strategy has also been a cornerstone of growing EZZ’s digital footprint.
“Our consumer marketplaces generate a lot of consumer insights on the demographics of our consumers, what products they are looking for, and their behaviours and any potential health issues,” Cross says.
“There’s also trends in the health and wellness sector and on social media that consumers become more interested in at different times.”
Cross says consumers have also become much more focused on their own health and wellbeing, particularly in China since the start of the COVID-19 pandemic.
“It’s about how we respond and engage with consumers about what is topical and meet their healthcare needs,” he says.
Cross says EZZ has been working with a number of third party R&D firms to develop products, which have been identified as high-consumer need or demand, which then go into manufacturing.
The company released 18 new products to the market under the EZZ brand in FY23, contributing 56.1% of the company’s revenue in this period.
Furthermore, seven new products were launched during Q2 FY24, adding $200k to cash receipts and contributing 1.8% to cash inflows from customers during quarter.
EZZ is also diversifying its sales focus from e-commerce marketplaces to selling in physical stores.
In 2023, EZZ inked a deal with duty free retailer DFS to sell products at its flagship Sydney store.
“The advancement of our physical store strategy, combined with the renewed interest in in-store shopping, is set to enhance EZZ’s consumer outreach and cultivate a resilient, future-ready business model,” he says.
EZZ recently released it Q2 FY24 results with customer receipts for the quarter totalling $13.6 million, a 57% increase on PCP and 102% increase on Q1 FY24.
By the end of Q2 FY24, revenue derived from EZZ’s partnership with HIC was $3.8 million with the first sale generated in early September 2023.
“Our focus for FY24 has been on driving robust organic growth, pursuing strategic acquisitions, and maintaining a healthy operating margin and competitive edge,” Cross says.
This article was developed in collaboration with EZZ Life Sciences, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Health & Biotech
Health & Biotech
Health & Biotech
