Ladies always want their lips moisturized, and so for many years, they have been scanning through drug stores and supermarkets a small, tubular tube of chapstick. These sticks were found in only two flavors including the original and mint or cherry. In 2009, a company known as Evolution of Smooth (EOS) joined the lip balm market and has since taken over with features in many beauty and fashion magazines. The company began selling its products at Walgreens, then Walmart and Target. Moreover, celebrities such as Kim Kardashian, Christina Aguilera, and Miley Cyrus have been seen using the lip balm from EOS.
During an interview with Fast Company, the creators of EOS explained how they established a $250 million firm that was ranked the second best-selling lip balm by Kline. According to Kline’s study, EOS have more than one million sales weekly and are believe in increasing this number in future.
Sanjiv Mehra who is the co-creator and managing partner at EOS explains that the tube for the company’s lip balm was careful thought of and developed after an in-depth consumer study. The survey revealed that most women did not like applying lip balm with their hands as it was unhygienic and unpleasant. As such, they decided to create a lip balm tube that would stand the test of time and would be useful and enjoyable to use.
They then priced the EOS lip balm at $3, so it would compete favorably with other brands in the market. Most importantly, they used organic ingredients in creating their lip balm variant. EOS viewed its target audience as female aged between 25 and 35, and it incorporated similar advertising strategies used by its rivals such and magazine and television. Additionally, they used influencer marketing, which was the best way to reach their demographic. http://www.racked.com/2014/10/31/7571165/eos-lip-balm
They also collaborated with beauty bloggers who would review the lip balm on many social platforms including YouTube, Instagram, and Facebook. The EOS lip balm has also partnered with other known brands in the industry making it successful, and its two co-founders explain that their unique backgrounds were significant in allowing them to take over the lip balm industry.