For 100 years, Chapstick ruled the lip balm world. They were in every drug store and supermarket. They felt clinical, with active ingredients on the packaging. You got the ‘medicated’ kind for rough days and ‘cherry’ for date night.
Only 7 years ago, cute little spheres of lip balm called EOS began showing up everywhere. They covered shelves in places like Walmart, Walgreens, Racked and Target. Beauty experts from the likes of Cosmo and Allure raved about the product, as if they couldn’t get enough of it. Celebrities like Christina Aguilera, Kim Kardashian and Miley Cyrus even used to lip balm orbs.
Evolution of Smooth, the company’s full name, rose fast. But nobody knew their strategy until recently. The recently told Fast Company about how they created a $250 million company that has fallen in ranks just below first place for best-selling lip balm in the country. It has even outdone Chapstick and Blistex, companies that have been around for much longer.
EOS lip balm currently sells over 1 million of those little spheres each week and the future looks even more promising. Their market should increase steadily due to the on-going demand for natural products, just like EOS provides.
Sanjiv Mehra, EOS co-founder, explained that when they were just a small start-up they wanted to focus all of their attention of creating great products. As they’ve grown, however, they want their consumers to know more about their business and their values.
Mehra and his two other co-founders thought about how they could change the beauty aisle. The lip balm category was a prime candidate for innovation, they believed. They believed products were indistinguishable from each other. It appeared to them that everybody in that category were being lazy. They saw it as an opportunity.
Even though lip balms were treated as a unisex product, the founders discovered that after research, lip products are by a large majority, used by women. They decided to give a more delightful experience to women with products they use every day.
After careful planning and some creativity, EOS was born. They wanted to avoid being a ‘fad’ and created their product to be a best-selling, long-lasting, consumer product. Visit the EOS Linked in page for more info.