For more than 100 years, purchasing lip balm was mostly a matter of going to the local drug store and choosing a Chapstick product. The balms were filled with medicinal ingredients, and if consumers wanted something a little different, Chapstick was available in flavors like mint and cherry.
But about seven years ago, pastel-colored cylinders of lip balm from EOS started to become popular everywhere. The products were commonly seen in Walgreens, then Target and Walmart started carrying EOS as well. Celebrities, including Kim Kardashian and Miley Cyrus even started to become fans of the brand.
EOS, which stands for Evolution of Smooth, has also been featured in several fashion and beauty publications. Until recently, the founders of the company haven’t spoken about their extremely successful business strategies. During a Fast Company interview, EOS founders revealed how they created a $250 million company that is now the second best-selling lip balm in the United States, only after Burt’s Bees. EOS lip balm is also selling better than Chapstick and Blistex, which have been around for decades longer.
According to Kline Research, EOS lip balm has driven growth in the oral care field and sells more than 1 million units each week. The future of EOS is very promising, especially since the lip market around the world is expected to increase consistently by the year 2020 due to the public’s demand for more organic and natural products, which EOS is known for.