For over a century the lip balm market was dominated by one company. Chapstick has been a staple lip balm over the years and pretty much everyone is familiar with their cherry and menthol flavors. Seven years ago, however, a new startup called Evolution Of Smooth changed the entire lip balm industry with a revolutionary design and multiple exotic flavors. The creators of EOS lip balm knew that they had to have a fresh marketing concept and give customers a reason to choose their product.
As soon as EOS hit the market, celebrities began carrying the products in public. As soon as fans of the celebrities saw them using EOS they had to have it too. Pretty soon there was a huge demand for their products. Today, EOS can be found at most gas stations, Ulta drug stores, and chain retail stores like Kohls all over the country. In fact, EOS has grown so much in the last seven years that they have managed to take the number two position in the lip balm market with over $250 million in sales. They are only currently surpassed by Burt’s Bees. They have projected to see sales in excess of $1 billion by the year 2020.
Evolution Of Smooth has a great deal to offer their fans and continue to offer a high quality and flavorful product at a low price. Their phenomenal success is expected to keep momentum in the next several years. They have managed to create a big shift in the market thanks to their clever marketing and consumer appeal.
Until seven years ago, there had been little change in the lip balm industry until a couple of enterprising entrepreneurs decided to shake things up by creating a revolutionary new product. It was at this time that Evolution of Smooth introduced their line of flavored lip balms, which were in direct contrast with the current products available in generic looking tubes. These products generally contained one active ingredient and came in flavors of original, mint or cherry. The launch of lip balms from EOS lip balm not only captured the interest of many well known celebrities, but also drove profits in the lip care industry to more than two billion dollars.
Putting a New Twist on an Old Favorite
When co-founders Sanjiv Mehra and Jonathan Teller teamed up with former co-founder Craig Dubitsky, they sought to utilize the business skills they possessed to break into the beauty industry. They soon discovered the likeliest candidate for renovation in this industry was lip balm. Since the current products had not changed in more than 100 years, they felt they could easily capitalize on this lack of change by creating their own unique version of lip balm. The first step was to discover what type of product would appeal most to today’s consumer.
Since the current lip balms were neutral in gender, they thought they might be able to enter the market with a product designed to appeal specifically to women. They gained further insight into what women would look for in this type of product by conducting a consumer panel. What Sanjiv Mehra and Jonathan Teller discovered would lead them to create the little pastel colored orbs of lip balm available on Amazon and Target today. By making both the balm and the packaging more appealing to the senses, they created a product that not only protected lips, but was also affordable and incredibly adorable.