The Success of EOS Lip Balm by Fast Company

Pushing a new product in the market, which is already filled and saturated with similar products could be detrimental to its producers. These new products are bound to face stiff competition from the already existing, established brands in the market. However, that was not the case with EOS.

EOS lip balm found its way to the market approximately seven years ago, EOS lip balm became the only customers’ choice which led to its demand shooting up the roof. The product stuffed up shelves in prominent cosmetic shops all over and customers seemed not to get enough of it inclusive of celebrities like Kim Kardashian and Miley Cyrus. The product has various flavours like honeydew and grapefruit that provided users with a choosing variety to choose.

Fast Company has moved up the scales to become the second best-placed lip balm company countrywide within a shorter time compared to arch rivals Burt’s Bees. It has however out-performed Chapstick and Blistex. The product’s sales figures are over 1 million units in a week with high prospects of higher growth shortly with the global market predicted to increase steadily due to the increase in demand for natural and organic products, which are the product’s speciality.

Sanjiv Mehra, the co-founder and managing associate of EOS lip balm explains that the product development came about as a result of deliberate action rather than research as is with most products. In collaboration with Jonathan Teller and Craig Dubitsky, they decided to delve into the beauty business and agreed to bring innovation to the lip balm section. They noted that since time immemorial, most products in this line were all similar and their only focus was cutting costs and price competition. They saw this as a market gap and seized it.

EOS is customized for women’s daily needs. Right from its outlook, they hired the expertise of a clay artist who would uniquely design its varying shapes. The product has since proved efficient and pleasurable for every woman’s use on an everyday basis. EOS has been focused on making great products and distributing them. Today, the lip balms are now sold in Target, Walgreens, Costco and Walmart. More so, for appeal purposes, it was designed in a way that attracts the attention of all senses ranging from its tender packaging that has a good feel in the hands, orbs colours, its smell, flavour tastes and also to the clicking sound as it opens and closes. EOS lip balm forms an emotional connection with its users making it the ultimate lip balm that makes you smile.

Sources

https://www.fastcompany.com

https://evolutionofsmooth.ca/

The Career of Entrepreneur Mike Baur

Mike Baur is a co-Founder, along with Max Meister and Oliver Walzer, of Swiss Start Up Factory and serves as its Executive Chairman. A native of Switzerland, he obtained his Bachelors in Banking and Financing at the University of Applied Sciences Bern, his E.M.B.A. at the University of Bern, and his M.B.A. from the University of Rochester. As a child he was entranced with financing and banking so obtaining his educational degrees fulfilled a dream of his.

Mike Baur has held a variety of financial positions at a number of Swiss banks. Starting out as a commercial apprentice at UBS, he gradually worked his way up over the years into higher positions with other private banking firms. Before satisfying his entrepreneurial spirit, he had eventually worked his way up to being the Head of Private Banking for Sallfort Privatbank AG.

After spending 20 years working for private banks he decided to co-Found his own firm, Swiss Start Up Factory, based in Zurich. The focus of Swiss Start Up Factory is to provide a three month-long start-up accelerator program for new start-ups. In this critical phase Swiss Start Up Factory provides such things as financing, mentoring, office space, and other services. Swiss Start Up Factory also can provide new start-ups access to their broad investor & entrepreneurial network which spans the globe. While the focus is on new start-ups Swiss Start Up Factory also does provide services to later stage start-ups as well.

While a Swiss company, Swiss Start Up Factory is premised on creating global companies through the financing and services they provide to start-ups. The goal is to create companies that disrupt business models and products. The company is always on the look out for digital entrepreneurs that will thrive in their accelerator program.

As the Executive Chairman, Mike Baur’s role is to handle the fund raising and financing rounds for the start-ups that become clients of Swiss Start Up Factory. Other services that Mike Baur and Swiss Start Up Factory offers to entrepreneurs is the handling of their start-ups needs in payroll management, cash flow reports, bookkeeping, invoice management, and other financially fundamental matters.

Swiss Start Up Factory also offers co-working spaces for digital entrepreneurs to work in as well as network with each other in. In addition to offering office spaces and desks they provide these digital entrepreneurs with conference rooms, a lunch room, a fitness room, a welcome area, and even an in-house film studio.