I\'m using elevate zoom effects for zooming facility of image, my image tag is:
Include the following code in js and it may solve your problem In variable smallImage give the url of the new small image and in largeImage give the url of new large image. Hope this solves your problem without reintializing your elevate zoom.
var ez = $("#zoom_01").data("elevateZoom");
ez.swaptheimage(smallImage, largeImage);