The deal excludes Tmall, Douyin, Pinduoduo, and all Australian and New Zealand regions – is expected to generate at least $16 million in additional revenue for EZZ, commencing from FY24, with minimum order quantities agreed for both products.
EZZ’s full-year sales revenue for FY22 was $15.02 million, and more recently, the company reported sales revenue of $15.13 in the half-yearly financial statements to December 31.
HIC’s social e-commerce model allows EZZ products to reach consumers outside its existing distribution channels, offering significant potential for growth.
“HIC’s established distribution channels in China and surrounding countries in Asia through its membership-based platform will enable EZZ to expand its reach and market presence,” said Glenn Cross, chairman at EZZ Life Science.
“The company looks forward to a successful partnership with HIC and anticipates the potential for further growth in the coming months.”
