For the last 100 years, buying lip balm has been pretty boring. You simply scanned the store for a simple tube of Chapstick: “plain” for everyday use and if you’re feeling a little crazy, you’d pick “cherry”. Then 2009 rolled around and a new company called EOS lip balm began selling pastel-colored orbs everywhere you looked.
According to fastcompany.com, EOS lip balm took over shelves at places like Walmart and Target. It got rave reviews from big companies like Cosmo and Allure. Celebrities even endorsed it, like Kim Kardashian, Christina Aguilera, and Miley Cyrus.
The company, Evolution of Smooth, has become one of the hottest products on the market. They have created a $250 million company that quickly became the second best-selling lip balm on eBay, only after Burt Bee’s. They have even beaten out the older companies, Blistex and Chapstick.
EOS currently sells more than 1 million of those cute little orbs every week and their future looks even more promising. This particular market is projected to increase steadily, due to consumers’ desires for organic and natural products. Those are EOS’ specialties.
Co-founders, Sanjiv Mehra, Jonathan Teller, and Craig Dubitsky came together to find their niche in the drugstore beauty aisle. They decided on the lip balm category because they knew that most products in the category were completely undifferentiated from any others. In other words, everything looked the same. Most brands copied each other but were driven solely by cutting company costs and competing with others on the cost. There they found their opportunity.
They started their journey on creating products specifically made for women. They completely rethought the lip balm format, and hired an artist to find them a new shape. In the end, they created a product that catered to all five senses. It felt good to hold it in your hands, the colors were visually fun, the clicking sound was appealing, the smells were magical, and it even tasted wonderful. The price point could compete with other lip balms. Essentially, Evolutionofsmooth.com products were a quick success. They’re not going anywhere anytime soon, either.
Visit the EOS Facebook: https://www.facebook.com/eos/