Who knew a lip balm could be so fashionable? The little EOS lip balm container is the hottest accessory among young professionals these days. Creators Sanjiv Mehra and Jonathan Teller have taken the EOS craze and turned it into a company that has made $250 million. Currently number two behind the Burt’s Bees product, the new guy on the block is making everyone, including old-timers like Chapstick, up their game to stay competitive in the market. They have added their own exot
EOS (Evolution of Smooth), in the fun egg shape and in delicious sounding flavors , has become the go-to balm for the younger set. The company sells about one million pieces weekly, and its made with organic ingredients. https://www.fastcompany.com/3063333/startup-report/the-untold-story-of-how-lip-balm-upstart-eos-outdid-chapstick.
When the company started out it seemed like a long-shot. Mehra and Teller were pitted against beloved long-time giants Chapstick and Blistex. When they came up with the idea for some creative packaging and a smooth, flavored product, their popularity quickly grew.
Walgreens was the first chain of stores to step up and agree to carry the EOS product. From there Amazon, Walmart and Target gave the green-light and added it to their inventories.
Marketing the product was done by using bloggers along with other social media sites that helped spread the word. Endorsements by popular music stars helped the little EOS lip balm eggs catch on. EOS has nearly two million Instagram followers and seven million on Facebook.
New Skin care collections are being designed all the time and EOS has already added a shaving cream and a hand lotion to its list of products. Mehra and Teller succeeded when they weren’t afraid to take on the giants in their industry. Today that’s exactly what they’ve become.