For decades, the traditional lip balm in a tube has dominated the lip care market. That was all you had to choose form when it came to satisfying your lip care needs. Then one day a new lip balm broke the mold with its orb-shaped vessels filled with tantalizing flavors.
The consumer was no longer limited to just the original, mint, or cherry flavors in a tube. These EOS orbs took over the shelves at Walmart, Racked, Target, and Walgreens, and were a breath of fresh air. Even celebrities took notice and could be spotted using the trendy new EOS lip balm flavors.
EOS, which stands for Evolution of Smooth, became quite popular and ads could be seen in fashion and beauty magazines. EOS grew into a $250 million dollar company and has changed the lip balm market.
EOS currently sells over 1 million units every week and is expected to increase to $2 billion by the year 2020, thanks to the great demand for natural and organic products like EOS.
In a Fast Company article, Sanjiv Mehra, EOS managing partner and cofounder believes that the products that women use every day should be fun and enjoyable to use and so that is why he set out to create a product that would stimulate all five senses.
After some research, it was discovered that the majority of the market for lip care items were women, and so the target market became Millennial women between the ages of 25 to 35. This group was found to be quite style conscious and trendy, as well as environmentally aware.
EOS has only grown and has even partnered with other major brands, including Keds. EOS also has a large social media following that includes 1.8 million followers on Instagram and almost 7 million followers on Facebook, https://www.facebook.com/eos/. This unique product has really caught on.