EOS, short for “Evolution of Smooth”, is a lip balm company that gained popularity in 2010 when the circular items began to be used by A-list celebrities. Since then the company has sold more than Chapstick and is the second leading lip balm behind Burt’s Bees. Customers were attracted to the numerous flavor and color options as well as the unique packaging and the fact that Eos is natural and organic. In a decade EOS has become a $250 million company that has sales all around the world. Every week over one million packages of EOS lip balms are sold world-wide. The company is projected to double in the next five years.
EOS was founded by three like-minded men, Sanjiv Mehra, Craig Dubitsky and Jonathan Teller, who all wanted to create an innovative type of lip balm. Tired with other products that prioritized cutting costs over customer enjoyment, the three knew that they could do better. In-depth research and interviews helped them choose the unique circular shape as well as the colors and flavors of the early Eos line. The whole time they kept mind that they wanted a product that was not only enjoyable to use but also beneficiary to the user. Using a small amount of startup capital and their own funds Mehra, Dubitsky and Teller began EOS lip balm with the slogan, “The lip balm that makes you smile.”
Once the first hurdle of creating the company was finished dealing with competitors loomed in the horizon. Large and well established companies like Burt’s Bees and Chapstick dominated the lip balm market and were owned by wealthy companies. It took some time before a woman from Walgreens showed her interest in the product and began selling it in the stores. Not long after EOS was also being sold at Walmart and Target. This was only the beginning. For the company to survive; it needed to expand. Mehra and Teller, who were the two who still remained with EOS, spent their free time visiting engineering trade shows and talking to experts to see if they could build the machines needed to begin making EOS in bulk. With their own production line and some amazing advertisements EOS is now a name on everyone’s lips.
For more information on Eos please visit Fastcompany.com. https://www.fastcompany.com/3063333/startup-report/the-untold-story-of-how-lip-balm-upstart-eos-outdid-chapstick