For years, Chapstick has been a leading balm on the shelves of leading stores. It offers great choices with different flavors available for consumers. Available options are mint, cherry or the tasteless original flavor. Seven years ago, things changed when a new product hit the market. EOS lip balm in its pastel colored orbs started to appear everywhere.
Numerous editorials from business magazines added to the popularity of the new EOS lip balm. Beauty stores like Costco and supermarkets offered amazing displays of the new flavors of the lip balm from EOS. With its fast-growing popularity, big stars including Kim Kardashian, Christina Aguilera, and Miley Cyrus joined the list of consumers and were spotted using the balms at different events and in their mundane lives.
Despite its success, the company’s founders (evolutionofsmooth.ca) remained silent for years about their business strategy. The founders opened up to Fast Company in an interview where they talked about the $250 million investment. Results from Kline, a consulting and research firm indicated that the EOS Company is currently the second best-selling company. It ranks second only after Burt’s Bees the leading lip balm seller in the country. It means its success has surpassed Chapstick and Blistex two of the oldest players in the industry.
The research By Kline firm indicates that EOS currently sells over 1 million units of balms each week. Based on its performance, its projected that continued dominance in the oral care industry by the company will see it rise to $2 billion by the year 2020. Increased awareness of the benefits of using natural and organic products is the driving force behind this projected growth. EOS specializes in natural and organic oral products.
According to Sanjiv Mehra, a co-founder and managing partner at EOS, time is ripe for the company to provide information to its consumers. The information to provide includes basic company information and the values on which the company operates.