EZZ to Launch Store on Chinese Version of TikTok
EZZ is hoping to drive further momentum of its products in China with the launch of a Douyin (TikTok China) Cross Border Store.
Genomic-tech firm, EZZ Life Science Holdings (ASX:EZZ) has recently launched a store on Douyin, mainland China’s version of TikTok, as part of its e-commerce strategy.
Douyin is both a powerful social media platform and an e-commerce destination connecting brands with shoppers through live-streaming as well as short videos produced by the brand and other users. As one of the most popular short video apps in China, it boasts more than 600 million daily active users. By GMV, Douyin transacted around $28 billion in 2020.
EZZ said the launch is quite significant as the company focuses more on highlighting itself as an Australian brand presenting high quality health supplements and functional foods to the mainland Chinese market. The company said it will serve to increase EZZ’s brand awareness and international image in the sector.
Southeast Asia is a key target market for EZZ. Sales from its flagship stores on Tmall Global – China’s main cross-border B2C online marketplace – have accrued $11 million in revenue since launching in August 2020.
Focus on four key areas of health
EZZ is focusing its genomic research and product development to isolate and unpack four key areas including:
- genetic longevity
- human papillomavirus (some 80% of sexually active adults have it)
- helicobacter pylori (a bacteria that grows in the digestive tract which causes stomach ulcers and increases risk of stomach cancers)
- weight management.
The company offers health supplements, health food and probiotics as well as skincare products under two brands, EZZ and EAORON respectively.
EZZ has entered local and international university partnerships to drive research into its focus areas.
Strong financial position
EZZ is in a solid financial position to build on its growth strategy after reporting a strong Q3 FY22 which saw the company close the quarter with ~$10.4 million in cash.
The company had ~$4 million in cash inflows from customers with the largest receipt of $680k from Chemist Warehouse management in March.
EZZ has earmarked establishing a Good Manufacturing Practice (GMP) certified manufacturing facility in Australia or New Zealand to improve production efficiency by the end of CY22.
This article was developed in collaboration with EZZ, 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.