Before EOS was founded their co-founders were working for large multinational companies like Pepsi and Unilever and helping them to succeed in the marketplace. Their founders had extensive experience in the marketplace but had not created their own business despite their experience and entrepreneurial spirit. When they viewed the opportunity that was presenting itself in the lip balm industry they decided to take advantage of the opportunity and created a brand that succeeded in taking market share from competitors.
The lip balm industry was mature when EOS lip balm was first started by their founders. Brands were not changing their products and customers tended to be not particularly loyal to the various lip balms, choosing whichever product was cheapest or on sale. To customers, there was little difference between Chapstick and Blistex as the formulas and ingredients, as well as the canisters were pretty much the same. Customers weren’t expressing strong feelings for any of the brands out there.
EOS was determined to change that and create a brand that stood out. They used higher quality ingredients in their lip balm formulas and they decided to market their products differently using unique orb canisters and unique flavors that were not previously on the market.
EOS developed long standing relationships with several of the major retailers and was able to distribute their product for a growing audience. As customers began to seek out their products, the company expanded their footprint of retailers that carry their products and thus developed new retail relationships. From Walgreen’s and Target, EOS lip balm began to be sold in Amazon.com and Costco, thus becoming more widely recognized of a brand.
This strategy began to pay off and EOS (evolutionofsmooth.com ) experienced remarkable growth and becoming a major player in the lip balm industry. EOS was able to expand into other industries and grow their brand in unique ways.
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