EOS Catapults to the Top of Their Industry
EOS built up a company in an industry that was dominated by major competitors including Pfizer’s Chapstick and Clorox’s Burt’s Bees brands. Despite this, the founders of EOS noted that the lip balm market was susceptible to entry by a smaller and more Nile competitor who could design a product that was perfect for the majority of people buying lip balm– women.
Women shoppers for lip balm were identified as being bored with the bland medicinal flavored of lip balms that were on the market and were thought to be looking for products that were made of organic and natural ingredients. Further many people were cautious of the petroleum jelly based products of lip balm on the market and were looking for higher quality ingredients in their lip balm.
EOS lip balm obliged these desires by creating a product that contained high quality jojoba oil and shea butter and eliminated the artificial taste and ingredients. New flavored like berry blast and Honeydew drew in customers and the orbital applicator shaped design created instant buzz for shoppers.
EOS turned this buzz into solid revenues and now sells two hundred and fifty million dollars worth of their lip balm every year catapulting themselves into the top of the industry from their very humble origins. From this start in lip balm they have now expanded their focus into many different personal care products but have tried to retain their focus as an innovative and game changing company.
In fact, many of their competitors are now trying to copy their success. While this emulation is likely flattering to EOS, they are not resting on their laurels and are trying new and creative ways to dominate their industry. Based on their past success EOS is likely to continue creating new and interesting products that focus on the desires of their customers. Visit fastcompany.com and learn how EOS started.