Kreyol Essence is the first Haitian company to sell natural skin and hair care products. The company was founded in 2014 by Stephane Jean Baptiste and Yve-Car Momperousse to provide a natural method for skin and hair care.
When Momperousse was a child, her mother used to use magic oil for hair, which used to make hair completely perfect.
Like the rest of the girls, Momperousse wanted to make her hair beautiful, and for this, she used many chemical products, due to which hair was damaged.
She talked to her mom and her mom suggested Haitian black castor oil. By applying Haitian black castor oil, all the Problanc attached to the hair got solved. After this, Kreyol Essence was born.
Stephane and Yve-Car appeared on Shark Tank Season 11 Episode 11 for funding and asked the sharks for $400,000 for 10% equity at a $4 Million Valuation.
What Is Kreyol Essence?
Kreyol Essence is a skin and hair care company that manufactures natural ethical hair, skin, and body products. Organic Haitian Black Castor Oil is used in all the products of this company because it contains high amounts of Vitamin E, minerals, proteins, and Omega 6 and 9 other ingredients.
Haitian Moringa for Skin Care costs $25 and Haitian Black Castor Oil for Hair Care costs $20. You can buy these products from the company website and Amazon.
|Company Name||Kreyol Essence|
|Founder||Stephane Jean Baptiste and Yve-Car Momperousse|
|Product||Ethical hair, skin, and body products|
|Asked For||$400k for 10% equity|
|Final Deal||$400k for 5% equity + $0.25 per unit royalty|
|Episode (Shark Tank USA)||S11 E11|
|Air Date||Jan 12, 2020|
|Business Status||In Business|
|Headquarters||Miami, Florida, US|
|Lifetime Worth (Sales)||$15.5M *estimated|
|Buy and Watch||Buy Now||Amazon Prime|
Another Shark Tank Pitch
Who Is The Founder Of Kreyol Essence?
The Founder and CEO of Kreyol Essence Company is Yve-Car Momperousse. According to the LinkedIn profile, this company was founded in 2014.
Momperousse started this company after completing his master’s degree from Cornell University.
Stephane Jean Baptiste
The co-founder and chief operating officer of this company is Stéphane Jean Baptiste.
How Was The Shark Tank Pitch Of Kreyol Essence?
Yve-Car and Stéphane both enter Shark Tank, explain their business, and ask the sharks for $400k for 15% equity. All the sharks smelled the best seller’s product and they liked the product.
They have their own farm of 12 hectares from where they source the ingredients to make the products.
This business was started in 2014 and by 2015 had made sales of $135k. In 2017, they decided to go direct-to-consumer, and after that sales reached $327k. Sales reached $1M in 2018 and are projected to reach $2M in 2019.
In 2018, they generated $300k in profit from $1 million in sales and have a debt of over $300k.
Barbara, Daymond, Mark, and Lori are out of this business because the business is not worth $4 million and this business is not right for them.
Kevin O’Leary said that according to him this business is not worth $4 million, so his offer is $400k for 37% equity at a $1 Million Valuation. Yve-Car countered with $400k for 20% equity which Kevin immediately declined.
Yve-Car asked Kevin for a royalty deal of $400k for a royalty of 15 cents per unit sold. Kevin countered $400k for a royalty of 15 cents per unit sold + 5% equity. Founders accepted this offer.
What Happened To Kreyol Essence After Shark Tank?
After this episode of Shark Tank aired, all the Kreyol Essence products were sold out. Yve-Car said during his interview that he would spend $100k in marketing. The company’s annual revenue in 2022 is $4 million.
What’s new on Kreyol Essence
Last Update: August 22, 2023
As of August 2023, this company’s annual revenue is $5 million. At present, valuable information related to this company is not available.
Kreyol Essence Shark Tank Update
Kreyol Essence got a deal on Shark Tank. Kevin O’Leary invested in this hair and skin care beauty company. Not much information is available about the growth of this company. If we get any information, we will update.
What Is the Net Worth of Kreyol Essence?
Kreyol Essence has an estimated net worth of $2.4 million. The market size of beauty and personal care products in the United States alone was $81.1 billion in 2019 and is estimated to be $128.7 billion by 2030.
Is Kreyol Essence Still In Business?
Kreyol Essence Company was started in 2014 and in the beginning, the founders had to face many problems but gradually solved the problems.
The company is headquartered in Miami, Florida, United States, and employs 11-50 employees directly as per their LinkedIn profile.
Yes, Kreyol Essence is Still in business as of August 2023.