Up until about seven years ago, buying lip balm was a matter of searching for a variety of Chapstick or Blistex at the local drug store or supermarket. These items were almost medicinal in nature, and the introduction of Chapstick flavors like mint and cherry gave the balm more of a pleasant scent and taste. But these days, EOS lip balm is one of the biggest names in the lip care industry, and the company offers plenty of natural and organic flavors to choose form, including vanilla mint, passionfruit and honeysuckle honeydew.
EOS (Evolution of Smooth) started to become more popular when the company landed a distribution deal with Walgreen’s. Once the pastel cylinders of lip balm became a hit there, EOS was sold in Walmart and Target as well. The company is now worth $250 million and is the second top selling lip balm in the U.S., behind Burt’s Bees. EOS sells about 1 million products each week.
Only recently has EOS released details about how much the company is worth. Sanjiv Mehra, one of the founders of EOS, says that the corporation concentrated mainly on creating quality products and distributing them in the early years of the business.