If you’ve been to any popular supermarket, chances are you’ve seen a product called Evolution of Smooth, or, EOS Lip Balm. EOS made its debut seven years ago and has only grown more well-known. With their innovative designs and subtle flavors, EOS has made it’s mark on its industry quickly.
EOS founders have recently revealed on fastcompany.com their exemplary business strategy. They have gone from a small startup group, to a $250 million company. Not only have they had success in their profits, EOS has also provided stepping stones for the lip care industry and has estimated a $2 billion increase by 2020 for the industry as a whole.
The idea for the orb-like shape EOS produces its balm in came from many women who were tired of losing tubes of chapstick and didn’t like the idea of applying lip balm with their fingers. For a while EOS lip balm struggled to find a design. They wanted to please all five senses, instead of just creating another means to an end. They even went as far as to using organic ingredients, all the while keeping the price at only three dollars.
Some other challenges EOS faced was selling to males, and competing with other major brands. With Walmart, Walgreens, and Target selling their product, along with social media marketing EOS has become a household product. Visit evolutionofsmooth.com to view the full EOS product gallery.