The market is oversaturated with lip balm choices and EOS was one of the ones to enter the market and became one of the popular lip balm choices in this generation.
For over a century now, buying lip balm meant customers having to shop around in drugstores or either a supermarket just to buy chapstick. The sticks were “clinical” and contained “active ingredients”. If customers wanted to take it a little further, they were not stuck with just buying the original kind. The mint and cherry chapticks were also available for purchase.
However, 7 years ago, EOS popped up with pastel-colored orbs. They were available everywhere for purchase. Some of the retail stores they are being sold at is Walgreens, Walmart, Target and eBay. Many beauty editors of Cosmo and Allure were excited and started raving about the different flavors like honeydew and grapefruit.
Famous celebrities like Miley Cyrus, Christina Aguilera, and Kim Kardashian were seen pulling EOS lip balm out of their makeup bags. Evolution of Splash is the full name of the products and they are all over fashion and beauty magazines. Twitter, Facebook, and Instagram have all played a big role in getting the brand name out into the public and helping spread the word about EOS and its line of personal care products.
The company’s founders have kept their business strategy quite secretive until now. Their company is worth $250 million dollars. They are now known as the second best selling of lip balms after Burts and Bees followed by Chapsticks and Blistex. These units are so popular that 1 million are sold a week and this is only expected to increase in the future.
EOS’s cofounder, Sanjiv Mehra, points out that when the company first started with a small startup fee, that the focus was on just making the products and selling them. However, now they believe that customers need to know more about the business and the value of it.
Mehra, along with Jonathan Teller and Craig Dubitsk set out to create a product different from any other on the market. He also pointed out that most other brands were looking primarily to just cut the costs and compete with other on prices. Since women used lip balm as part of a beauty regimen, they needed to create a packaging and product that would look good as well as useful for a while.