Kreyol Essence’s Shark Tank Net Worth

Kreyol Essence is a Haitian beauty company that has been featured on Shark Tank. Its net worth is estimated to be around $4 million.

The company’s sales have grown significantly since its appearance on the show, with net sales surpassing $2 million in 2019.

What is Kreyol Essence and Who Founded Kreyol Essence?

Kreyol Essence is a US-based company that produces natural hair and skin care products made from organic Haitian ingredients. Their product line includes Moringa and Haitian Black Castor Oil-based products, which offer a safer alternative to chemical hair styling products that can often damage hair.

The skincare line is also effective in treating dermatitis and dry skin. The key ingredient in each product is the “magic oil,” Haitian Black Castor Oil, which is rich in Vitamin E, minerals, proteins, and healthy Omega 6 and 9 fatty acids, making it an excellent hair and skin conditioner.

The founder of Kreyol Essence, Yve-Car Momperousse, is a Haitian native with an impressive background.

Prior to starting Kreyol Essence, she held various leadership and social empowerment positions, including serving as an elected member of a major political party’s Pennsylvania state committee, which she still continues to serve on.

Momperousse’s mother used Haitian Black Castor Oil to treat her hair when she was a child and she always found it effective, never failing her. Her hair was frequently damaged after she styled it with traditional straightening treatments, braiding, and weaving, but she was confident in the reparative properties of black castor oil.

Momperousse identified a gap in the US oil market and decided to fill it with Kreyol Essence. The 2010 Haiti earthquake threatened to end her dream, but she persevered when she realized how establishing her company could help economically empower the Haitian people.

Along with her husband and business partner Stephane Jean-Baptiste, Kreyol Essence expanded their product offerings and eventually sought investors to help accelerate the growth of their business. Yve-Car Momperousse is the founder of Kreyol Essence.

Kreyol Essence Shark Tank Pitch

After their appearance on Shark Tank, Kreyol Essence’s Amazon website now offers a wide variety of products with varying prices. They also sell their products in numerous retail stores across the United States and Canada, including multiple Whole Foods Market locations.

Yve-Car and Stephane proposed an investment of $400,000 for 10% of their company, valuing it at $4 million. They presented their products and handed out samples, highlighting that they had been in business since 2014 but only adopted a direct-to-consumer approach in 2017.

In 2018, they generated slightly over $1 million in revenue and were anticipated to exceed $2 million in 2019.

The Sharks were thrilled to learn that Kreyol Essence had signed a contract with Ulta to sell their products, which would bring in significant revenue, but they were concerned about the amount of effort required to educate consumers about the difference between Kreyol Essence and other similar products.

The Sharks were worried about the lack of clinical evidence to support some of their claims, including that their products promoted hair growth.

They also expressed concern about the level of competition in the market. Despite these worries, Kevin saw the potential but offered $400,000 for a 37% stake in the company, which Yve-Car rejected.

They then proposed a royalty contract of $400,000 in exchange for 5% ownership and a perpetual 25% royalty on all sales. Kevin accepted the counteroffer, and the deal was made.

The episode was first broadcast in January 2020 and rerun for the first time in March of that year. Following the show’s premiere, sales increased by 50%, and the products quickly sold out on Amazon.

However, as of August 2020, there was no indication that the sale had been finalized on Kevin’s website, and as of July 2021, the agreement with Kevin had not been completed. Despite this, the company generates $4 million in annual sales.

Table Summary: Kreyol Essence Shark Tank

ASPECT	DETAILS
Net worth	Estimated to be around $4 million
Sales in 2019	Net sales surpassed $2 million
Founder	Yve-Car Momperousse, a Haitian native
Products	Natural hair and skin care products made from organic Haitian ingredients, including Moringa and Haitian Black Castor Oil-based products
Key ingredient	“Magic oil” Haitian Black Castor Oil, rich in Vitamin E, minerals, proteins, and healthy Omega 6 and 9 fatty acids
Shark Tank Pitch	Proposed $400,000 for 10% of their company, valuing it at $4 million; accepted $400,000 for 5% plus $0.25 per unit in perpetuity from Kevin O’Leary, bringing the valuation to $8 million
Ulta contract	Signed a contract with Ulta to sell their products
Sales increase	Following the show’s premiere, sales increased by 50%
Annual sales	Generates $4 million in annual sales

Kreyol Essence’s Net Worth

Stephane and Yve-Car approach Tank with an offer of $400,000 for 10% of their firm, suggesting a $4 million valuation.

They accepted an offer from Kevin of $ 400,000 for 5% plus $0.25 per unit in perpetuity which brings the valuation to $8 million.

Kreyol Essence Shark Tank Updates

Kreyol Essence is a social enterprise beauty brand that produces hair and skin products made from black Haitian castor oil.

In Season 11 Episode 11 of Shark Tank, Yve-Car Momperousse and Stephane Jean-Baptiste appeared on the show seeking $400,000 for 10% of their company. Only one Shark offered a deal, but it is unclear whether the deal closed.

According to a Kreyol Essence update in 2023, the company is now pulling in about $4 million per year in revenue. In 2019, the company announced that its net sales surpassed $2 million, which was already higher than the $800,000 valuation by Kevin O’Leary.

Kreyol Essence was founded by Yve-Car Momperousse and Stephane Jean-Baptiste. Yve-Car grew up in Haiti and remembers her mom washing her hair with her “magic oil” that fixed damaged hair. When Yve-Car had a “hairtastrophe,” she’d use a little of the oil to get things back to normal.

While in Philadelphia, she had her hair straightened and the hot iron burned her hair. She went looking for some Haitian black castor oil, but couldn’t find it anywhere, so she called her mom. They decided to start a business so everyone could share in the benefits of mom’s “magic oil”.

Kreyol Essence products are available for purchase on their website.

Kreyol Essence FAQS

What is Kreyol Essence Shark Tank?

Kreyol Essence is a line of skin and hair care products made with black Haitian castor oil. The oil is made from castor seeds harvested by about 300 farmers in Haiti.

The founders of Kreyol Essence, Stephane Jean-Baptiste and Yve-Car Momperousse, appeared on Shark Tank in Season 11 Episode 11, asking for $400,000 for 10% of their company.

They received an offer from Mr. Wonderful, Kevin O’Leary, who invested $400,000 for 20% of the company.

Since appearing on Shark Tank, Kreyol Essence has been successful. As of 2023, the company is pulling in about $4 million per year in revenue. Customers can purchase Kreyol Essence products on the company’s website.

How does Kreyol Essence Shark Tank work?

Kreyol Essence is a beauty brand that appeared on Shark Tank seeking $400,000 for 10% equity. On the show, the brand agreed to give investor Kevin O’Leary 5% equity and a 25 cent royalty on every item sold in perpetuity in exchange for $400,000.

Kreyol Essence was founded in 2014 by Yve-Car Momperousse and Stephane Jean-Baptiste, who pitch their hair treatment made from black Haitian castor oil.

According to a Shark Tank update, Kreyol Essence is now pulling about $4 million per year in revenue. The brand offers clean haircare, skincare, and body care products made from Haitian castor oil.

Yve-Car Momperousse grew up in Haiti and remembers her mom washing her hair with her “magic oil” that fixed damaged hair. The brand’s products are a new take on a modern beauty trend.

What happened to Kreyol Essence after Shark Tank?

Kreyol Essence is a natural beauty brand that produces hair treatment made from black Haitian castor oil. The company was founded by Yve-Car Momperousse and Stephane Jean-Baptiste, who pitched their product on Shark Tank in season 11.

After the episode aired, Kreyol Essence managed to maintain sales and is now pulling about $4 million per year in revenue. The company’s products can be found in stores all around the United States, Canada, Haiti, and France, including Ulta, Whole Foods, QVC, Amazon, and Goop.

There is no evidence that the deal with Kevin O’Leary, who offered $400,000 for 20% equity in the company, closed. However, the company has continued to grow and expand its reach.

Yve-Car Momperousse’s mother was a big catalyst in starting the business, and she encouraged her daughter to push forward after the 2010 earthquake that devastated Haiti, so people could have opportunity instead of charity.

Is Kreyol Essence Shark Tank still in business?

Yes, Kreyol Essence is still in business after appearing on Shark Tank. Kreyol Essence has continued to operate successfully and has even expanded its business strategy to sell directly to consumers.

The company sells natural hair care and skin products made with organic Haitian ingredients, including black Haitian castor oil. Kreyol Essence was founded by husband and wife, Yve-Car Momperousse and Stéphane Jean-Baptiste, and appeared on season 11 episode 11 of Shark Tank.

During the show, they secured a deal with Kevin O’Leary for at least $400,000 for 10% equity in the business.

Since appearing on Shark Tank, Kreyol Essence has continued to thrive in the beauty and wellness world, with a loyal customer base supporting them. Their products can be found at stores all around the United States, Canada, Haiti, France, and other countries.

Some of the largest retailers carrying Kreyol Essence products include Ulta, Whole Foods, QVC, Amazon, and Goop. The company has annual revenue of $4 million.

Kreyol Essence has also received impressive write-ups and features on Good Morning America, Oprah Daily, and Marie Claire.

What is the current valuation of Kreyol Essence after Shark Tank?

Kreyol Essence is a social enterprise beauty brand that sells natural hair care and skin products made with organic Haitian ingredients. The company appeared on Season 11 of Shark Tank with the goal of closing a deal with any of the Sharks.

Only one Shark, Kevin O’Leary, offered a deal of $400,000 investment for 5% equity, valuing the company at $8 million. However, the founders declined the offer and chose to work around it and create another option.

Since appearing on Shark Tank, Kreyol Essence has continued to operate successfully. The company changed its business strategy to sell directly to consumers and has expanded into the Caribbean market.

Kreyol Essence products can now be found in ULTA, Whole Foods, QVC, and Amazon. Kreyol Essence is now pulling about $4 million per year in revenue.

As of 2022, Kreyol Essence’s founders, Stephane Jean-Baptiste and Yve-Car Momperousse, have a net worth of $4.75 million. Overall, Kreyol Essence has been successful after appearing on Shark Tank, with increased revenue and a growing market presence.

Did Shark Tank make an investment in Kreyol essence?

Kreyol Essence went away from Shark Tank with a $400,000 investment from Kevin O’Leary after co-founders bargained him down from a 37 percent ownership stake to a 5 percent stake and a $0.25 fee on every product sold.

What is the purpose of Haitian black castor oil?

The 100% genuine Haitian Black Castor Oil from Kreyol Essence promotes thick, glossy, long hair and moisturized skin.

With a high concentration of omega fatty acids (3, 6, and 9) and vitamin E, this powerful moisturizing oil also helps to naturally relieve muscular pains and remove stretch marks.

Who founded Kreyol Essence?

Yve-Car Momperousse founded the Company.

Is Kreyol Essence suitable for all types of hair?

HBCO is suitable for ALL hair types.

Is Kreyol Essence successful?

Kreyol Essence has continued to thrive and has generated millions of dollars in revenue.

The business approach has shifted to direct consumer sales, and the company is growing into the Caribbean market.

Is Haitian castor oil beneficial to the Haitian people’s hair?

Ricinoleic acid transports Omega 6 and 9 fatty acids to the scalp, hence increasing blood circulation and hair development.

The antibacterial and antiviral characteristics of Haitian Black Castor Oil help combat scalp illnesses such as bald patches and alopecia.

How is Kreyol Essence manufactured?

Kreyol Essence (KE) is a company dedicated to bringing natural hair, skin, and body products from Haiti to the rest of the globe.

Their eco-friendly formulas are produced entirely of natural and pure components, with an emphasis on dry hair and skin.

Is Kreyol Essence OK for vegans?

Kreyol Essence is cruelty-free but not entirely vegan, since some of its products contain substances sourced from animals.

How do they use Kreyol Essence Hair Milk on their hair?

Distribute a good quantity of Goat & Coconut Krem Ak Let Moisturizing Hair Milk evenly throughout damp hair from roots to ends using a comb or their fingertips. Squeeze out any extra water.

How are they utilizing Kreyol Pomad?

Apply straight to the scalp and massage in with their fingertips to allow the ingredients to penetrate. May be worn daily or as needed to stimulate hair growth.

To counteract dryness and breakage, apply to the edges, ends, and short hair.

How does Kreyol black castor oil become used?

2-3 times a week, apply oil to the full head of hair to lock in moisture.

As a Deep Conditioner: Add to their conditioner or leave in hair for 30-60 minutes as a hot oil treatment with heat.

For severely damaged hair, leave it on overnight before shampooing.

Is Haitian black castor oil suitable for all types of hair?

OKAY, 100% Pure Black Jamaican Castor Oil is excellent for all hair types and promotes the growth of strong, healthy hair organically.

Contributes to deeper penetration into the hair follicle, delivering nutrients to the very core of their hair strands for the increased body, sheen, and bounce.

Are their products subjected to animal testing?

No, they do not do animal testing or use animal bi-products in our goods.

Their goods are made entirely of natural ingredients. They are honored to be classified as a Leaping Bunny Certified Cruelty-Free Brand.

Where do their orders originate?

Their Kreyol Essence purchases are mailed directly from their US warehouse.