In an article in Fast Company the untold story of the EOS lip balm company EOS was told. The story was more than just how a new lip balm apart from Chapstick began. It inspired the entrepreneur that believed you couldn’t tackle a saturated market. The name is even hip and catchy for the times. In case you weren’t cued in, EOS is an acronym for Evolution of Smooth. Everyone remembers Chapstick right? Only the monopoly on lip balm for decades. Remember the 2-3 flavors of Chapstick? The article talks about the scant choices and small cylindrical container that were still on offer with that company. Sure, Chapstick served the populous in dating situations and cold lip-chapping climates everywhere for a good stint and still have a following. We have to keep in mind that there is always room for improvement, and if the long-standing company didn’t move on opportunities to make their brand competitive, who says someone else won’t?
How EOS is doing it?
So, what did it? What made EOS the takeover merchants Lucky Vitamin, Walmart and Target they’ve come to be in the past 7 years? It helps a lot when Allure and Cosmo get a hold of your product and touts it to the masses passively. It helps even more when Miley Cyrus and the Kardashians jump on the bandwagon. These unsolicited growth opportunities are gold to a growing company in a saturated market. They have built a $250 million dollar company that is still the second largest seller running right behind Burt’s Bees. They project $2 billion by 2020. Right now, they are selling at a rate of 1 million units a week.
So, why Burt’s Bees and not Blistex or another brand that has been around for dogs years? Because they are both in the running for best natural product, http://www.ulta.com/brand/eos.