Jonathan Teller and Sanjiv Mehra founded EOS lip balm because they know that they could produce a lip balm that was better than anything on the market. They succeeded in that dream. Today, EOS is a $250 million company, and their EOS balms are some of the most popular lip balm products in the nation.
Entering an Oversaturated Market
Teller and Mehra entered the lip care market because they believed that it needed a facelift. At the time of the company’s creation, Chapstick was on top, but the Chapstick brand hadn’t changed their look in decades.
For over 100 years, lip balm had been sold in a tube in a boring flavor. EOS lip balm cofounders saw this as an opportunity and nabbed it.
A New Take on Lip Balm
In order to change the look and feel of lip balm, Teller and Mehra decided to focus on the five senses. They wanted to improve the taste, smell, look and feel of the packaging and product. They even wanted the casing to sound pleasing when you clicked the top with the bottom to close it.
Knowing that cost would be important as well, they made sure that they didn’t overprice the product. The goal was to have it compete with other lip balms on the market, so in the beginning, each lip balm from EOS cost just a few dollars.
The product was slow to sell at first. Pharmacies weren’t interested because they thought that consumers were happy with the lip balm products that they already had. Finally, when the EOS marketing team started targeting millennials, things took off. Today, it’s a multi-million dollars company. Read the full EOS history on fastcompany.com.
Try EOS on for Size
If you’d like to try these amazing lip balm products yourself, you can. Look for EOS products at your local Racked pharmacy, online and in big box chain stores near you.