For a long time, lip balm purchases entailed going through the drug stores to find the lip balm of choice, Chapstick. An active ingredient made the Chapstick feel clinical. Buyers had an option of purchasing the original version without flavor or go for the flavored one with mint or cherry. There was a turn of events seven years ago when the pastel colored EOS lip balm appeared in large stores such as Walmart.
Celebrities like Kim Kardashian made the lip balm popular since they were spotted carrying EOS lip balm. The beauty products from the Evolution of Smooth (EOS) were splashed all over the magazine articles. With a capital amounting to $250 million, EOS Lip balm Company was created specializing in oral care. Each week the net sales amount to one million units.
The demand for organic and natural products a specialty of EOS sparks the growth of EOS lip balm (https://evolutionofsmooth.com/lip-balm.html) worldwide. Sanjiv Mehra, the company’s founder, says that initially, their focus was on creation and distribution of products. Over time, customer’s desire for the knowledge of what the company stands for prompts the sharing of more information regarding company’s values.
Most of the competitors in the lip balm market focused on cutting costs and price competition. Mehra and his partner found this as an opportune time for creating an innovate product. Though Lip balm was a unisex product, it was mostly used by women. Through consulting an artist, the EOS Company came up with different shapes of lip balms that did not exist in the market before.
The lip balm involved all five senses and was priced at $3 competing with existing brands in the market. Through contracting advertising personnel, the lip balm was availed in stores shelves. EOS targeted the millennials; they worked with celebrities for placement and endorsements in the social media pages of Facebook creating publicity for the brand.