Up until about seven years ago, Chapstick cornered the market on lip balm. That is until EOS lip balm began to emerge on shelves of pharmacies and major retailers. According to fastcompany.com, endorsements from celebrities and fashion magazines have turned EOS (Evolution of Smooth) into a $250 million dollar company that has become the second most popular brand of lip balm.
To capitalize on a growing industry, EOS lip balm conducted very intensive research and found that most lip balms were being marketed as unisex despite the fact that women were more avid users of the product. Knowing this, EOS set out to create a lip balm that would enhance the beauty regime by creating a product that is hygienic, affordable, natural, and fun to apply. Thus their signature pod shape was born.
Their next hurdle was figuring out how to get into stores and be competitive in an industry that has long been dominated by bigger companies. Because EOS was primarily being marketed towards women, there were a lot of male buyers that simply did not understand it. This all changed when they were able to get a female buyer and consequently, were able to get EOS on the shelves at Racked, Target and Walmart. EOS then created their own production facility and were able to keep up with supply and demand.
To generate interest, EOS decided to market to millennials using social media, (https://www.facebook.com/eos/) brand collaborations, and celebrity endorsements. It is clear that their strategies have worked. EOS products are everywhere and the signature pods even have their very own copycat versions.
EOS has expanded from lip balm to a full line of natural products including hand lotions and shaving creams, with no plans of stopping in the future.