What strangles most of the promising business ideas and new brands in the market is just simple fear; giving in to the harsh market conditions posed by giant market brands. Upcoming companies fear stiff market competition as they rate the market veterans as having critical advantages over their new brands. Nevertheless, that’s not the case with EOS Lip Balm. With just a simple tagline ‘the lip balm that makes you smile,’ EOS lip balm has emerged as one of the market dominants, taking the show from established brands like Chapstick and becoming the country’s second best-selling lip balm.
The Evolution of Smooth.ca company has quickly grown over a short span of time to tune a total net worth of $250 million with average sales of over a million units a week. Mr. Sanjiv Mehra, the company co-founder talks of an intrigue mechanism and market strategy that has seen the brand soar to such unmatched heights. Together with other co-founders, Jonathan Teller and Craig Duitsky, theirs was a pure initiative to create a product that could shake up the beauty industry. They apparently identified one looming gap in the lip balm category. Lip balm brands had shied off from innovation for a long time, and the market products proved to be undistinguishable to consumers.
With this discovery, the leaders’ responsibility was very simple: to create something different that excites consumers. EOS lip balm was designed with a unique pot-like shape. The products are available online on eBay and Amazon.
A combination of all these physical attributes with rigorous Facebook marketing and brand advertising is what has seen the success of EOS Lip Balm, ever targeting the millennial consumers with high consumption rates.