EOS Founders Talk Shop with Fast Company

Evolution of Smooth (EOS) began seven years ago as a mere idea for a start up, but in just a short amount of time, the company would hit the market and rise to the top of their industry to become the second best-selling lip balm.

“Not necessarily building up information about it was something quite deliberate on our part,” stated Sanjiv Mehra, EOS cofounder and managing partner, in an exclusive interview with Fast Company in which the company divulged a few of their secrets.

Mehra goes on to explain that, as the company grows, they feel it is important for their consumers to be able to understand and get to know them better.

And of course that means revealing some info about their business strategy and exactly how EOS rose to the top of their game in such a short time.

Like any business or any strategy, it was a multifaceted approach that included a focus on design and demographics in a stale, over-saturated industry.

The egg-shaped, pastel-colored orbs are a far cry from the two-inch long tubes that most lip balms come in, and the distinctive lack of markings also adds their unique appeal. The products are available on major stores such as Target, Wal-Mart and Costco.

The design was carefully chosen in every aspect to engage the senses, but it was chosen to engage with EOS’ chosen target demographic: millennial women. Women happen to be the primary purchasers and users of lip balm but are, for the most part, not targeted by the lip balm industry.

EOS lip balm firmly planted themselves in their demographic and set to work building connections through various means, including social media, blogs, and more.

Read their full interview here.

Product Links:

https://www.walmart.com/ip/Eos-Sweet-Mint-Lip-Balm-0.25-oz/15136069

https://www.amazon.ca/eos-Pomegranate-Raspberry-Lip-Balm/dp/B00B6A9KTU

 

The Philanthropy Of Dick And Betsy DeVos

Dick DeVos recently revealed how much he and his family have given to charitable causes over the years. During their lifetimes, and through their Dick and Betsy DeVos Family Foundation, they have given away almost $139 million. Just in 2015 the contributed $11.6 million to a variety of causes, mostly related to education and arts. When combined with the amount that the extended DeVos family has donated over the years it comes to $1.33 billion, which places them as 24th on the list of most charitable families in the United States, according to Forbes.

In 2015, $3 million of their donations went to educational causes. The reason why education is so important to Dick DeVos is because he recognizes that children who grow up in the wrong zip code will simply not get a good education. DeVos said that the educational institutions they support show a commitment to academic rigor, accountability, and sufficient adult support and supervision. Among the specific schools they support is the West Michigan Aviation Academy which turns out students that have the STEM skills necessary to succeed in the aviation industry.

It was also revealed that they gave $2.4 million in donations for Arts & Culture in 2015. Part of this went to the DeVos Institute of Arts Management that is located at the University of Michigan. The institute was started as part of an initiative to strengthen the business side of arts institutions. The rest of their donations for the year were split up between civic community organizations, leadership and development programs, public policy, health and human services, and churches. One of the hallmarks that the couple is known for is that the money they donate comes without string attached on exactly how it is spent.

Dick DeVos is the son of Amway Corporation co-founder Richard DeVos, Sr. Dick began working at Amway in 1974 and slowly built his way up to positions of more responsibility. In 1984 he was promoted to Vice President where he oversaw the company’s international markets. During the time he served as Vice President, Amway explored new markets and tripled foreign sales. In 1989 he left Amway in order to found his own company, The Windquest Group. At this company he was involved manufacturing and selling closet and storage organizers.

In 1991 his father bought The Orlando Magic NBA team, and Dick was tapped by his dad to manage it. He continued to manage The Windquest Group during this time, and also after he rejoined Amway in 1993 as the company’s President.