The history of shopping for a lip balm has for decades been an experience of picking cylindrical tubes in drug stores or supermarkets. The tubes were packaged in an almost formal way and marked with a listing of the ingredients, adding a clinical feel to the product. Exceptional brands added a flavor of either cherry or mint or entice their customers.
The revolutionary EOS (Evolution of Smooth) lip balm competed alongside these original balms in stores such as Walmart and Walgreen. ULTA and Lucky Vitamin soon followed. Beauty bloggers raved about the balm and celebrity icons such as Miley Cyrus, and Kim Kardashian flashed the tube out of their bags on the streets.
The founders of the successful $250 company revealed their progress to success in an interview by Fast Company. EOS lip balm occupies the second position after Burt’s Bees in the lip balm industry, as indicated in a study by Kline research and consultancy firm. It has climbed the ladder to beat older companies such as Chapstick and Blistex. EOS’s unique brand of selling nature and organically inspired products will increase to $2 billion by 2020 from its current sale of $1million units weekly.
Mehra, a former employee of various consumer packaging companies, and, Jonathan Teller and Craig Dubistky, former employees of startup incubators, found EOS in partnership.
The driving idea for starting the company was to innovate a product different from the original balms that targeted to reduce packaging costs.
The new balm incorporated all five senses of the customers, organic ingredients and an affordable price to attract customers of its predecessors. After several failed attempts to get the products on shelves of leading stores, they finally got an opportunity to sell, hence giving them a platform to meet the increasing demands of customers by building a manufacturing facility.
After seven years, the start-up business has expanded its market area by advertising their product on social media, through beauty editors and endorsing key celebrity figures.Mehra commented that discipline and a consistent entrepreneurial spirit were a major contributor to their success.