For more than 100 years now, Chapstick has dominated the lip balm market. If you had chapped lips, you bought a chapstick in either plain and boring or fruit-flavored. That was until about seven years ago when EOS lip balm hit the shelves and started dominating the lip balm market, starting with Walgreens and then continuing on to take over Ulta, Target and Walmart shelves as well. Then came the magazine coverage and in the natural progression of things, celebs started using EOS lip balms. And, they were big stars, too, like Christina Aguilera, Miley Cyrus, and Kim Kardashian.
Gone are those old boring cylindrical-shaped tubes and here to stay are the pastel-colored orbs that are synonymous with EOS lip balms. So, who is EOS? The company’s full name is Evolution of Smooth and they are quickly becoming very big in their field. However, until now, they had been quite tight-lipped about their strategy for doing business. That was until they gave Fast Company an exclusive interview recently.
EOS told them all about the creation of their $250 million Lip balm company and how it beat out both Blistex and Chapstick to become the nation’s 2nd best selling lip balm. They are currently second only to Burt’s Bees, and all three have been around a lot longer than EOS. Could they be destined to take over the #1 slot? Quite possibly. In fact, according to Kline Research, EOS has been responsible for singlehandedly driving growth in the field of oral care by selling one million EOS lip balms per week. So, it would seem that the combination of organic ingredients, a newer more modern shape and yummy tropical flavors have become a big hit.
Source: Fast Company|The Untold Story Of How Lip Balm Upstart EOS Outdid Chapstick| https://www.fastcompany.com/3063333/startup-report/the-untold-story-of-how-lip-balm-upstart-eos-outdid-chapstick