The Haitian couple behind Kreyol Essence, the eco-friendly cosmetics firm that earned a $400,000 contract with Shark Tank’s Kevin O’Leary, have not only witnessed a 50% boost in sales but have also paid off a $300,000 debt in just three years.
According to The List, Yve-Car Momperousse and Stéphane Jean-Baptiste pitched their firm Kreyol Essence, which sells organic items infused with pure Haitian Black Castor oil, on the 12th episode of Season 11 of Shark Tank in 2020.
On “Shark Tank,” Momperousse revealed that they earned $135,000 in 2014. However, they only made $40,000 in sales in 2016, according to Jean-Baptiste, who added that Kreyol Essence was then selling in bulk and had lost its key buyer.
Kreyol Essence regained its footing in 2017 when it began selling directly to clients, and in 2018 it earned $1 million in revenue. Momperousse then stated that the company was on course to make $2 million as a result of a deal with Ulta, despite the fact that the brand was $300,000 in debt.
The couple eventually accepted O’Leary’s offer of $400,000 for 5% shares and 25 cents per share in perpetuity after much haggling. The investment resulted in a 50% rise in Kreyol Essence sales right away. Their goods have grown in popularity, and they are now available at major retailers such as Ulta, Amazon, JCPenney, and Sprouts Farmers Market.
In addition to its multi-scented Haitian Black Castor Oil, the company sells moringa-infused vitamins, cosmetics, and hair products.
The duo recently vowed that every purchase made from their company would have a good global impact, such as creating long-term jobs, conserving the environment, and empowering women. According to Momperousse, 90% of the Kreyol Essence personnel are women.
Momperousse, who was raised in Haiti and the Northeast United States, remembers requesting her mother to send her a bottle of Haitian Black Castor Oil whenever her hair began to fall out. She went to natural and West Indian businesses in Philadelphia to look for Haitian Black Castor Oil, but to her astonishment, none of them had the organic oil.That sparked her desire to co-found Kreyol Essence with her spouse.
In the three years since its appearance on Shark Tank, the company is believed to have grown by 529%. It also ranked 44th on Inc. Magazine’s “Regionals 2023: Southeast” list of 200 firms, indicating that it has had a significant impact in the Southeast.