As you stroll through the beauty aisle at your favorite store, your eye catches a pastel-colored sphere. Your curiosity leads you to inspect this uniquely shaped orb of lip balm. Upon closer inspection, you discover this lip balm is available in alluring flavors, a functional design and crafted with organic ingredients.
This uniquely styled lip balm is Evolution of Smooth or EOS. Seven years ago EOS lip balm exploded in the global lip care market, and have been driving growth in this category ever since.
When EOS founders, Sanjiv Mehra and Jonathan Teller granted Fast Company an exclusive interview, they described the process of evolving from a small startup lip balm company to a $250 million company. Their vision of EOS was to create a lip balm that was indistinguishable from all the others.
Mehra and Teller used their funds as start-up capital and began the radical new concept of a durable, functional, pleasurable to use lip balm. Through research with their target market, investment in flavors, and organic ingredients they created an emotional connection with the user.
Mehra and Teller secured their first account with Walgreens, and soon after Target and Walmart decided to sell EOS lip balm also. Once these companies were on board, Mehra and Teller had to scale the product quickly. With a production facility that they invested in early on, they were able to meet the demands of every new account they landed.
Their marketing strategy involved introducing EOS through beauty bloggers, social media sites such as Facebook, Twitter and Instagram, and millennial celebrities.
It is evident due to Mehra’s and Teller’s planning, experimentation, investments, and marketing skills, EOS continues to be a growing, thriving company. They attribute their success to their unique backgrounds. Mehra has years of experience of working with large corporations focusing on consumer packaged goods. Teller spent many years immersed in the start-up culture of the small business world.