EOS took the oral care market segment by storm, and in less than a decade they have overtaken decades old brands Blistex and Chapstick. According to a recent article in Fast Company magazine, their success is somewhat attributable to the varied backgrounds of two of their founders. Mehra and Teller brought their separate skill sets to EOS and combined them to gain a huge market share. Navigating the corporate structure was balanced with the passion and disruption inherent in start-up culture. By combining the two viewpoints, the two partners gained a competitive advantage in the stagnant oral care market segment.
Corporate culture is very structured, and at times rigid, and can cause stagnation similar to what Blistex and Chapstick experienced prior to being out matched by EOS and Burt’s Bees. The melding of corporate culture and experience with a start-up ethos and mentality has served EOS very well. Start-up culture lends itself well to innovation and market disruption. EOS created a niche for itself by appealing to women consumers and moving away from the unisex market niche of most oral care products. The corporate structure helped the brand work through its tough beginning and getting production up and running.
EOS lip balm is the perfect combination of old and new concepts, and this business model has served them very well. According to Fast Company, the company moves about one million lip balm orbs per week and ranks second overall in the lip balm market segment. By combining the benefits of both corporate models, the leadership of EOS has been able to navigate a new Racked product that is competing in a long established market segment. The founders have definitely found the sweet spot in the oral care market, and their hybrid approach to the EOS business model is working incredibly well for them.
EOS Facebook page: https://www.facebook.com/eos/