For more than 100 years, purchasing lip balm was a matter of visiting the drug or grocery store and bringing a tube of Chapstick to the checkout counter. The balm is known for being clinical in nature, and there has always been an active ingredient list on the product packaging. In addition to plain Chapstick, new flavors like mint, cherry and strawberry were introduced in later years.
However, around seven years ago, pastel cylinders of lip balm from EOS began to show up at discount supermarkets and grocery stores. The founders of EOS convinced a buyer from Walgreens to sell the products. After the Walgreens deal was successful, EOS was featured in Walmart, Amazon and Target. Facebook bloggers and beauty editors at popular magazines like Allure and Cosmo found out about EOS and fell in love with the product, and celebrities like Christina Aguilera and Kim Kardashian made EOS more well-known after being seen using the product.
EOS, which stands for Evolution of Smooth, has experienced significant success in a short amount of time. Until now, the founders of EOS haven’t spoken about the strategies they’ve used to be profitable. The company is worth $250 million and research firm Kline has recently reported that EOS is the second best-selling lip balm in the United States, just under Burt’s Bees.
Kline Research also states that EOS has encouraged growth in the oral care industry. EOS lip balm sells more than 1 million units each week and the future of the company is promising, since the world lip care market is set to increase by $2 billion by the year 2020 due to the demand for organic oral care product, which EOS is known for.