A recent article from Fast Company, By Elizabeth Segran, shares how EOS Lip Balm has taken the beauty industry by storm. Chapstick and Blistex, being the longest running products in the market, are no longer the most popular items to buy. Over a seven year period EOS Lip Balm has managed to become a $250 million company, second only to Burt’s Bees lip balm.
It all started when three individuals, Mehra, Jonathan Teller, and Craig Dubitsky, deliberately thought about how to create an item that would stand out inside the beauty aisle of stores like Walgreens, Target, and Walmart. Lip Balm was the item they thought needed the biggest make-over.
They came up with the idea that their lip balm should create an emotional response from their customers, engaging all five senses. Once they decided on the round shape, colors, smells, and tastes of their new product they attempted to get it into major outlets. Walgreens was the first to accept, later came Costco, Target and Walmart. In order to compete with the bigger brands of lip balm, they decided to create their own manufacturing company to supply their enormous orders.
Using ads on TV and magazines pages helped create the excitement they were looking for, but they also advertised to 25-35 year old women through beauty blogs, celebrities, and social media platforms, such as, Facebook and Instagram. As Teller stated, “We became the largest advertiser in our category.” Selling a million lip balms per week is a giant success for the EOS Company, https://evolutionofsmooth.ca/, who started at ground zero with their idea for making a lip balm more interesting and satisfying for their customers. Mehra and Teller, Dubitsky no longer with the company, have concluded it was their experiences in big business and start-up that helped make their product a huge success.