But how exactly did EOS lip balm find success in a market dominated by brands like Chapstick and Blistex? Brands whose approximately two-inch, cylindrical tubes have been the packaging for lip balm for over a century?
EOS co-founders Sanjiv Mehra, Craig Dubitsky, and Jonathan Teller reveal their recipe for success in thisexclusive interviewwith Fast Company.
So how did EOS get to the top of their game?
It wasn’t easy. Most buyers didn’t want the product at first. “There were a lot of male buyers out there who would say they didn’t understand the product,” states Sanjiv Mehra.
But eventually, EOS would find a buyer with a female representative from Walgreens, which makes sense as the team designed the product with a demographic in mind: millennial women.
The team knew that, while lip balm is typically packaged and sold as a unisex product, women are, in fact, the primary purchasers of the product. So, they designed their new product with that in mind. They also wanted to create a new look for lip balm. After all, the little tubes that lip balm comes in have been that way for over a century.
The new look had to be something lasting, however; they couldn’t create a gimmick or a passing fad with their new product if they wanted to successful shake up the lip balm industry. The iconic EOS design was born, created to stimulate all five senses – and take over lip balm aisles. https://www.walmart.com/ip/Eos-Sweet-Mint-Lip-Balm-0.25-oz/15136069
The company now sells 1 million units per week and is worth $250 million.
To find out more about EOS’ success story, check out their interview with Fast Company here.