Meet Yve-Car Momperousse and Stéphane Jean-Baptiste, the Haitian couple behind the eco-friendly beauty business Kreyol Essence, who landed a $400,000 deal on Shark Tank with Kevin O’Leary. In just three years, they not only increased company revenues by 50% but also paid off a $300,000 debt.
The married pair appeared on Shark Tank in 2020 to pitch their brand Kreyol Essence, which sells natural goods infused with pure Haitian Black Castor oil, which is believed to promote healthy skin, hair growth, and other benefits. According to AfroTech, the duo recounted how they successfully earned $1 million in 2018 but experienced challenges after losing their major buyer and collecting $300,000 in debt.
Momperousse and Jean-Baptiste were looking for $400,000 in exchange for 10% of Kreyol Essence. They accepted Kevin O’Leary’s offer of $400,000 for 5% shares and 25 cents in perpetuity after lengthy bargaining.
The investment agreement had an immediate impact, resulting in a 50% boost in Kreyol Essence sales. Their goods were so successful that they are now sold in major retailers such as Ulta, Amazon, JCPenney, and Sprouts Farmers Market.
However, the plot does not revolve primarily upon profits. They promised that every purchase made through their brand will have a beneficial global impact. Kreyol Essence is on a mission to provide long-term work opportunities, safeguard the environment, and empower women. In fact, women make over 90% of their team.
Furthermore, their business reportedly increased by 529% in the three years since their Shark Tank debut. Kreyol Essence ranked 44th on Inc. Magazine’s “Regionals 2023: Southeast” list of 200 firms making an outsized influence in the Southeast.
