For years when people thought about lip balm or chapped lips, the first thing that came to mind was Chapstick. Eventually Blistex was another name that came to mind, but these two were the staples in the industry. The only variations might have been cherry flavoring.
In 2000, the lip balm industry welcomed EOS. This stands for Evolution of Smooth. They were beginning to show up at Target, Walgreen’s, and Walmart. They offered a variety of different flavors and a round shape. When women stick their hand down inside their purses, it is easily found. Currently the company is the second largest seller of lip balm in the country, right behind Burt’s Bees. They have long moved ahead of Chapstick and Blistex.
EOS is currently a $250 million company. They are estimated to sell over 1 million units per week. They have focused their marketing efforts on the female millennial market, women between 25 and 35 years old.
Sanjiv Mehra is a co-founder and managing partner of the firm. He worked for years in consumer packing companies like Pepsi. He combined his knowledge with Jonathan Teller and Craig Dubitsky, whose experience was with incubator companies. They decided to develop a new lip balm, because there had not been a major challenger for decades.
EOS lip balm focused on nice packaging, a variety of colors and flavors (https://www.amazon.com/Organic-Smooth-Strawberry-Passion-Honeydew/dp/B009QTDYYA) to entice their target market. They decided to make their product 100 percent organic. It has been a major success. They market via magazines, social media and they even have celebrity endorsements.
In seven years, the company has gone from the incubator stage to a household brand name. There are a number of copycats already in the marketplace. They are pushing to develop new products and items for the marketplace. For more information, visit evolutionofsmooth.ca.