Chapstick has been a household name for generations as the company has dominated the lip balm industry for nearly a century. So why is the millennial generation using those colorful egg shaped EOS lip balms? With Fast Company Sanjiv Mehra, the co-founder and managing partner of Evolution of Soft (EOS), shares the story of how EOS lip balm came to be the millennial generation’s go-to lip balm.
The idea of EOS lip balm began with Sanjiv Mehra, Jonathan Teller, and Craig Dubitsky. Although Dubitsky left prematurely for another career opportunity, Mehra’s background in major corporations and Teller’s immersion in startup culture attributed significantly to the success of EOS. After identifying the lip balm industry as lacking in change or innovation, they saw a prime opportunity. They began conducting research and discovered the primary consumers of lip balms were women, and the major issues these consumers had was frequently loosing tubes of lip balm in their bags. Additionally, theses consumers were open to trying new styles of lip balm containers such as lip balm pots.
After taking these issues into consideration they set to work on designing a new lip balm with the five senses in mind such as the soft feel of the container, the smell and taste of the balm, color of the container, and even the sound of opening and closing it. After all of their hard work the EOS lib balm was made!
To get the product onto shelves required them investing in their own manufacturing equipment, contacting Facebook bloggers to review and start chatter about the product, and partnering with major market players. For example, they created an Alice in Wonderland collection with Disney that sold out in days. After only seven years, EOS lip balm has become a household name in their own right. Visit the EOS website: evolutionofsmooth.com.
Read full article: https://www.fastcompany.com/3063333/startup-report/the-untold-story-of-how-lip-balm-upstart-eos-outdid-chapstick?utm_content=buffer47040&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer