Fast Company has recently interviewed a rapidly growing lip balm company that is radically transforming the market. EOS lip balm has taken over the lip balm scene as the second best lip balm aside from Chapstick, Blistex and Burt’s Bees. For seven years they have been creating little bundles of joy in their popular pastel colors and unique flavors. They took a plunge into an already popular market and became the first choice for the millennial generation. EOS lip balm can be found in stores like Wal-Mart, Target and some convenient stores. They have evolved into a $250 million dollar company in result of the last seven years, and work to continue to produce the best lip balm on the market.
Kline Research is reporting that EOS lip balm sells over 1 million items per year and is hoping to continue their popular sales, and reach the 2 billion dollar mark by 2020. Co-founder and partner, Sanjiv Mehra, talks about EOS lip balm as a small starter company that turned into a profitable, yet very popular business. They focus on the overall ingredients of each product to ensure the natural background and organic input. They have realized the demand for such product, and have taken it to the next level. As they have grown throughout the years, they understand that it’s important for people to understand their values and what they stand for.
The compilation and design behind the lip balm has many people stunned with appeasement. Mehra, along with his partners, Jonathan Teller and Craig Dubitsky, spent time developing a design that would appeal to the beauty aisle. They listened to buyers and how they were tired of looking for tubes of chapstick in their purses. They liked the idea of having their lip balm in a pot, but for hygiene reasons didn’t want to always be sticking their finger in it. That’s when EOS lip balm was created with their unique design.