For years and years, lip balm was synonymous with Chapstick. Not that Chapstick was an extraordinary product, considering that it was all too clinical in taste or at best offered additional choices in the shape of spring for cherry or mint flavors. All this changed about seven years back, when EOS, which appropriately stands for Evolution of Smooth introduced their pastel colored lip balm.
It took them very little time to provide competition to the once mighty Chapstick. Stores like Walmart, Walgreens, and Target wanted it. The beauty Editors at Cosmo and Allure lent a hand with their effusive praise of flavors like grapefruit and honeydew. Further endorsement from celebrity icons like Miley Cyrus and Kim Kardashian further cemented the brand’s reputation as the choice of the trendy and with- it millennials.
EOS lip balm has, in fact, become quite a hit with beauty and fashion magazines that feature it more often than not. In an interview with Fast Company, the founders of EOS lip balm outlined how they achieved a $250 million company and became the second most sold lip balm in the country after Burt’s Bees. Read more news on frenchtribune.com.
Consulting and Research firm Kline Research attribute the growth in the oral care sector to EOS. This is on account of the fact, that EOS sells as much as one million units a week. Furthermore, the prospects too are very bright because global lip care market could grow to as much as $2 billion by 2020. This is mainly going to be by way of an enhanced preference for natural and organic products that are right up EOS’s street. Watch video here.
The success of the EOS lip balm was the result of a strategy borne out of a thorough study and research of the lip balm market by the founders. What they achieved here is a classic textbook case study of creating a new iconic brand that takes on and takes down the well-established ones.
Get hooked with the latest trend here on https://www.youtube.com/watch?v=yRY7C3LEFeM.