Black Couple That Landed $400K Deal on ‘Shark Tank’ Celebrate 500% Growth Three Years Later
Meet Yve-Car Momperousse and Stéphane Jean-Baptiste, a couple from Haiti behind the eco-friendly beauty brand Kreyol Essence who secured a $400,000 deal with Kevin O’Leary on Shark Tank. In just three years, the investment not only helped increase their sales by 50% but also got them out of a $300,000 debt.
In 2020, the married couple appeared on Shark Tank to pitch their brand Kreyol Essence, which sells natural products infused with pure Haitian Black Castor oil known for promoting healthy skin, hair growth, and more. The duo shared how they successfully raked in $1 million in 2018 but faced hurdles after losing their biggest buyer and accumulating $300,000 in debt, according to AfroTech.
Momperousse and Jean-Baptiste were seeking $400,000 for 10% of Kreyol Essence. After intense negotiations, they agreed to Kevin O’Leary’s offer of $400,000 for 5% equity and 25 cents in perpetuity.
The investment deal had an immediate impact, driving a significant 50% increase in Kreyol Essence’s sales. Their products gained widespread popularity, now available in major retailers like Ulta, Amazon, JCPenney, and Sprouts Farmers Market.
But the story doesn’t revolve solely around profits. They made a promise that every purchase from their brand would make a positive global impact. Kreyol Essence is on a mission to create sustainable jobs, protect the environment, and empower women. In fact, 90% of their team comprises women.
Moreover, after just 3 years since their Shark Tank appearance, their business reportedly skyrocketed by a staggering 529%. Kreyol Essence made it to No. 44 on the list of Inc. Magazine‘s “Regionals 2023: Southeast” featuring 200 companies making an outsized impact in the Southeast.
Learn more about Kreyol Essence via its official website at KreyolEssence.com
