Australian health technology start-up Eucalyptus is planning to withdraw its fertility and skincare products from major retailers like Woolworths and Priceline. The company, led by CEO Tim Doyle, intends to concentrate on selling weight-loss drugs online, a more profitable venture. This strategic shift is expected to result in the layoff of ten staff members.
In a candid interview with The Australian Financial Review, Doyle acknowledged that the company’s fertility brand, Kin, was underperforming, stating it “kind of sucked,” while the skincare business, Software, was barely profitable. The decision to focus on weight-loss medications online marks a significant change in Eucalyptus’s business strategy.
Amelia McGuire, the business reporter who covered this story, is based in the Sydney newsroom of The Australian Financial Review. She has previously worked as a reporter covering aviation, tourism, and gambling for The Sydney Morning Herald and The Age.
