This month fastcompany.com wrote an article called ‘The Untold Story Of How Lip Balm Upstart EOS Outdid Chapstick’ explaining how the founders Sanjiv Mehra, Jonathan Teller, and Craig Dubitsky (Dubitsky left EOS lip balm before its launch) revolutionized how people perceive lip balm by reinventing it from the ground up.
The article starts by talking about how companies before EOS were primarily competing on cutting costs and not on design. The founders of EOS wanted to create a design that would stand the test of time but wouldn’t be a fad or gimmick. The final product was something that engaged all five senses, unique spherical packaging that makes a nice clicking sound when you close it, a pleasant smell and taste, coming in many different colors – some even limited edition, priced at $3, and made with organic ingredients, EOS lip balm was ready to compete with other brands in the beauty isle.
The article goes on to talk about how the company invested in their own manufacturing equipment to keep up with demands of their growing business. They created a buzz about their product by targeting millennials through social media including Linked In, contacting beauty bloggers to review EOS, and promoting their product by working with celebrities such as Miley Cyrus, Demi Lovato, Britney Spears, and Taylor Swift. “We became the largest advertiser in our category.” Teller says. Now according to luckyvitamin.com, EOS is selling over a million lip balms a week which is more than they made in their entire first year. The article ends with Mehra and Teller looking back and noting that their diverse business backgrounds allowed them to take on their competitors and singlehandedly drive growth into the oral care industry.
If your interested in reading the original article by fastcompany.com you can find it here.