EOS’s Ascent in Lip Balm
Lip Balm may seem to be a boring industry but an article in Fast Company shows how exciting an ascent EOS lip balm, also known as the Evolution of Smooth, had in the market. The brand EOS was going up against some large established players in Chapstick, Carmex, and Blistex, but managed to out do them with a better quality product that appealed to their customer base.
For EOS lip balm the story started less than a decade ago with co-founders who noticed that the lip balm brands in the market competed only on price and their brand names and didn’t offer products that appealed to modern tastes. Modern lips were looking for lip balms that were increasingly made from higher quality natural and organic ingredients, were made with better oils than the petroleum jelly based lip balms that were sold by the competition and which had better flavors than the original and medicinal flavors that the major brands offered.
In addition, the applicator tube was re-imagined. Instead of the simple applicator tube that was commonly used by their competition, EOS decided to redesign it and found that an orb shaped application provided a smooth application without losing the sanitary benefits of a tube. EOS made them colorful and interesting and quickly found some major retailers willing to stock their products on their shelves (Walgreens, Luckyvitamin and Target).
For EOS the rest was history and they now sell over 1 million orbs a week and have a business valued at $250 million of revenue each year, and growing. For a small company like EOS to start off as small as it did and to expand as fast as they did is amazing. Their competition has changed and become closer to EOS though EOS continues to expand and change their product to keep up with changing customer needs. Visit the EOS Linked In page to learn more about the company.