While you may not think it, the lip balm industry is fierce and competitive. Basically the lip balm market has been so dully inundated by products that don’t try to revolutionize the system that people ended up not expecting anything new or different. That is why you could walk down the aisles of a pharmacy and not see a single tube that jumps off of the shelf toward you. The man behind the rise of EOS Lip Balm is Sanjiv Mehra — the cofounder and managing partner at ESO. Let’s dig into what the method was that made EOS Lip Balm such a force in the chapstick and lip balm industry.
Sanjiv Mehra got his start working in the product packaging industry working for titans like PepsiCo. It was there that Mehra saw how innovative packaging could become and that was the first nugget of an idea that cemented itself into his brain. Eventually Mehra decided to make that nugget into an actionable concept and he chose the lip balm industry as an arena rife for innovation. He wasn’t wrong. Mehra says, “The products that women depend on every day should deliver moments of delight that elevate these daily routines.” Mehra’s mindset was to bring something new and effective to the table.
Mehra’s decision to focus on a certain gender certainly paid off. Even with Burt’s Bees dominating the market, there was nobody out there that was making a lip balm for women with the intent of being used extensively. Check this article on frenchtribune.com and learn more about the EOS. Mehra wanted to create a product that would be made exactly for their every day needs. So he used his startup capital as well as his own personal funding in order to get the job done. Mehra and EOS have yet to take an external investment. Now the company is the second biggest lip balm company in the country, worth $250 Million. Additional article to read on goodguide.com.
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