A few years ago, a new entrant came into the lip balm industry, determined to outdo the monopoly of Chapstick. For a long time, consumers were offered limited choices, and EOS, the new kid on the block, sought to change that. Within a few months of their inauguration, EOS lip balm was literally on everybody’s lips. From beauty columnists to famous celebrities, the new product had taken the market by storm. The array of flavors presented by Evolution of Smooth (EOS) had beauty enthusiasts waxing lyrical about the lip balm.
In its relatively short period of existence, EOS has surpassed household names to become one of the leading lip balm company in the multi-billion beauty industry. The results of a survey conducted by Kline ranked EOS as runner-up, losing out the top spot to Bees by Burt. The study further reveals that the firm is recording over a million sales weekly, a number set to increase if the current trend holds. By 2020, it is projected that the institution will be worth a massive $2 billion.
Sanjiv Mehra, who played a significant role in EOS’s establishment, said that the business’s initial objective was to create innovative products and extensive distribution networks. However, recent success has spurred the necessity of enlightening the public’s about the firm as well as the principles upon which they operate.
After conducting an in-depth research Mehra and his friends realized a glaring opportunity in the lip balm industry. Apart from the distinct lack of variety, a majority of companies in the business were compromising quality so as to make affordable products. For these reasons, the idea of EOS (https://evolutionofsmooth.com/lip-balm.html) was conceived.
Armed with all facts and fictions regarding the subject, Sanjiv and his team set out to create an innovative product. By enlisting the services of elite curators, they were able to come up with exclusive and elegant designs, which received a warm welcome on the market.
The next monstrous challenge was to find a grip on the market, which was dominated by the large corporate institutions. Due to the nature of their target audience, the company adopted digital product promotion methods. In addition to establishing a strong advertising footing on various social media such as Facebook and Instagram, EOS also use celebrities to promote their products.