Have you noticed that fun egg shaped lip balm that seems to have come out of nowhere? It is called EOS (an acronym for the company’s name, Evolution of Smooth). This lip balm went from small startup company to being the second best selling lip balm in the country by Kline the research and consulting company.
The Creation of EOS
Sanjiv Mehra, with a career in major consumer packaged goods companies, partnered with Craig Dubitsky and Jonathan Teller, with careers in the creation of startup companies, to form EOS. Before EOS was released Dubitsky left to manage a new company, Hello Products.
Mehra and Teller researched and found that even though most women used lip balm in their daily routine they didn’t enjoy it. The unisex product available was not making the mark. Creating a product especially designed for women that was as imaginative as possible to set it apart from existing products was their goal. They wanted a product that would engage all five senses. Scent and flavor to the feel and color of the packaging and even the sound when closing the container were taking into consideration while developing EOS.
At first they had a difficult time get EOS lip balm on the shelves at the major retailers. Many of the male buyers said they simply didn’t understand the product. EOS found its break when a female buyer for Walgreens fell in love with the product. Soon after Walgreens began carrying EOS, Walmart and then Target followed suit. Today, online stores Amazon and eBay sell EOS too!
EOS’s market is millennial women age 25 to 35 that are conscious of style. Because of this, the marketing strategy uses modern innovations.
Read more at: https://www.fastcompany.com/3063333/startup-report/the-untold-story-of-how-lip-balm-upstart-eos-outdid-chapstick