Around seven years ago, cylinder-shaped lip balms in pastel shades started to show up at virtually every supermarket and drug store. EOS lip balms became pretty popular at Walmart, Target and Walgreens, and the editors at Allure and Cosmo have even featured EOS on several occasions. The lip balms became even more appealing to the public when celebrities like Miley Cyrus and Kim Kardashian started using EOS lip balm.
EOS, which stands for Evolution of Smooth, also sells hand lotions and shaving creams, and is committed to providing natural and organic products to consumers. The founders of EOS have been pretty quiet about their marketing strategies until now. But now, in an interview with Fast Company, EOS, which is worth $250 million, shares some of the ways it has become the second best selling lip balm in the United States.
Sanjiv Mehra, one of the founders of EOS and manager partner for the company, says that being quiet about the inner workings of the company was a deliberate business move. He also shares (https://www.fastcompany.com/3063333/startup-report/the-untold-story-of-how-lip-balm-upstart-eos-outdid-chapstick) that since EOS was a small startup company, the executives made the decision to focus on creating quality products and finding effective ways to distribute them. Now that EOS has grown significantly, Mehra asserts that consumers need to know more about the company and its values.
Kline Research states that EOS has singlehandedly been responsible for the growth of the oral care industry. Currently, EOS sells more than 1 million products per week, and the future looks bright for the company, since the lip care market around the world is set to be worth around $2 billion by the year 2020.