Evolution of Smooth, or EOS, is a brand almost all of us are familiar with, a brand that has taken over drug stores and mass merchandisers like Luckyvitamin in just a few short years. The little egg-shaped containers in their pastel colors and variety of flavors have appealed to everyone from celebrities to beauty bloggers.
But just how did the lip balm start-up become such fierce competitors in the 100-year-old lip balm industry in just seven years?
The EOS lip balm revolution began with an idea – an idea to shake up an industry that has remained largely the same for about a century. But shaking up the industry also meant coming up with an idea that had staying power. They needed a product that didn’t feel gimmicky.
Enter the now familiar EOS lip balm containers.
A second key piece of strategy evolved with a bit of research. While lip balm is often packaged and marketed as a fairly unisex product, it is, in fact, women who are the biggest purchasers. Knowing this, the EOS team filtered out a demographic of millennial women.
Hitting the market with their product, however, was a more difficult task. Finding a buyer for their unique lip balms proved challenging. But they finally caught their big break when a female purchaser for Walgreens showed interest in selling their lip balms.
It wasn’t long after that big box stores, such as Target and Wal-Mart, began carrying the product, and in just seven years, EOS has become a $250 million company that sells 1 million units per week.