Chapstick has always been the go-to when you had chapped lips. The all-to-familiar tube of therapy for your lips was either plain, or you could even get it in mint or, gasp-cherry. Not a lot of options. But it did the job.
Seven years ago, everything changed with the birth of EOS lip balm-an all-new pastel-colored orb of lip therapy. These orbs were a hot item and even celebrities were spotted using them.
EOS-which stands for Evolution of Smooth, made their way into beauty and fashion magazines and had become a $250 million dollar company. EOS has since grown tremendously and sells over 1 million units every week. EOS is projected to increase to $2 billion by 2020-thanks to the demand for organic and natural products like EOS lip balm.
Sanjiv Mehra, EOS co founder and managing partner, found that although lip balm is a fairly unisex product, it is used primarily by women. He believes that the products that women use daily should be fun and enjoyable. So, Mehra and Johnathon Teller set out to break the traditional lip balm mold.
They came up with a product that would please all five senses. The packaging of the EOS orb feels good to hold, the flavors are delectable, the colors and smells are pleasant, and even the clicking sound the orb makes when it is shut sounds satisfying.
Although it wasn’t easy getting into stores against their stiff competition, they had a successful product launch that got them into Walmart, Walgreens, eBay and even Target.
Their target audience is millennial women between the ages of 25 and 35 and they use influencer marketing to reach their audience. They have more than 1.8 million followers on Instagram and almost 7 million followers on Facebook. They have what people like and want and will continue to grow.