When you get only one option in life, do you think that you should accept it or work around it and make another option? The two young businessmen Yve-Car Momperousse and Stéphane Jean-Baptiste are the owners of a social enterprise beauty company who opted for the second alternative after coming up on the popular television show Shark Tank season 11.

They appeared on Shark Tank intending to secure a deal with any of the sharks but they only got a proposal from only one Shark. Let’s find out Kreyol Essence’s net worth in detail.

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What is Kreyol Essence?

Kreyol Essence is a skincare company based in Miami. The company became popular for its unique component, Haitian castor oil.

This social business helps the communities in Haiti. The  Haitian black castor beans are cultivated, reaped, and processed in Haiti. Due to Kreyol Essence nearly 300 farmers and women producers who live in poverty-stricken regions in Haiti, have got jobs. The company is proud of its naturally and ethically produced products.

The hidden thing in Haitian black castor oil is ricinoleic acid. Kreyol Essence creates and uses Haitian black castor oil that contains  80-90% ricinoleic acid which is higher than any other castor oil company.

This enables deeper penetrating moisturization and creates Kreyol Essence products useful for consumers who have skin problems like psoriasis and eczema. This castor oil also helps to grow hair and keep hair healthy and moisturized.

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What is the function of Kreyol Essence Company?

Kreyol Essence is a company that is popular for producing natural hair, skin, and body products from Haiti. All their products are made using organic Haitian ingredients.

They use non-toxic formulations and they are prepared from genuine and natural ingredients. They aim to curate clean beauty products. They concentrate on those people who have dry hair, dry skin and curly hair.

If you want to learn more about the company you have to follow them on Instagram.

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How did Kreyol Essence start?

A devastating earthquake hit Haiti in 2010. From this Yve-Car Momperousse got inspired and introduced her brand. Her mother told her that the people of her country are badly in need of jobs for their survival as donations are not enough for them.

Momperousse then decided to launch a business with Haitian black castor oil to help the growers back in  Haiti.

She remembered her past hair tragedy and the magical oil used by her mother for everything, be it for soothing dry skin or for repairing damaged hair.

She regrouped, used all her savings, and taught herself about the business. After that Momperousse introduced Kreyol Essence officially in 2013 with her husband Stéphane Jean-Baptiste.

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Who is the founder of Kreyol Essence?

The founder and CEO of Kreyòl Essence is Yve-Car Momperousse who is a resident of  Haiti and has outstanding credentials.

Momperousse has served as a director and social activist. So, she has handled a lot of posts. Before introducing Kreyol Essence, she was elected by a major political party in Pennsylvania to its state committee.

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What happened to Kreyol Essence on Shark Tank?

The Kreyol Essence owners pitched their products on Shark Tank intending to get an investment of $400,000 from one of the sharks in return for a 10% stake in their business.

The sharks raved about the delicious smell and elegant sense of the Kreyol Essence products. But unfortunately, none of the sharks was ready to invest in the company.

According to the shark, Barbara Cocoran, the business was not scalable enough. She also said that their success mainly depends on them selling the product and that is why she left the show.

Mark Cuban and Daymond John also decided to leave the show. Before leaving they wished good luck to the Kreyol Essence founders and remarked that they did not have the potential in the beauty industry the brand required.

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What did the Sharks offer to Kreyol Essence?

Kreyol Essence on shark tank got offers from the sharks. One of the sharks, Lori Grenier showed her interest in the creole castor oil company. But she said that the company lacks clinical or laboratory testing to support the claims of the company for hair regrowth. That is why she chose not to invest in the company.

According to the Shark Kevin O’Leary, his main focus is on the business and the numbers. He was utterly impressed by the growth of Kreyol Essence. He then proposed to invest $400,000 in the company in return for a 37% share in Kreyol Essence. After hearing this offer, the husband-wife duo became speechless.

Then Momperousse gave a counteroffer. She said that she was ready to give a 20% stake in the business. She also said that they were not ready to give up so much of their business. The shark then shot her proposal down.

He said to the co-founders that he was no doubt impressed by the words of Momperousse but they were having a tough love conversation. O’Leary said everything is all about money and he also wanted to make money.

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Did Kreyol Essence manage to get a deal on Shark Tank?

Unexpectedly the founders of Kreyol Essence managed to secure a deal from Kevin O’Leary. Momperousse counter offers a royalty deal of 15 cents for each bottle sold. She was willing to get him as a backer but she did not want to lose the higher amount of equity from her business.

O’Leary then countered and said that he would invest  $400,000 in exchange for a 5% equity in the business along with 25 cents royalty on each product forever. The founders accepted his proposal finally.

After leaving Shark Tank, Momperousse remarked that they did not expect Mr Wonderful would be ready to be a partner in a Haitian beauty company. But he indeed surprised them.

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What occurred to Kreyol Essence after Shark Tank?

Since the Shark Tank Kreyol Essence episode got recorded the founders of Kreyol Essence discussed with the team of O’Leary about the company policy and financial planning.

As soon as the Kreyol Essence Shark Tank episode was aired, each of the Kreyol Essence products went out of stock within a few hours.

As per the reports, after appearing on Shark Tank, the Haitian black castor oil company’s sales hiked by 50% from the website. Their followers on social media also increased and at present, nearly 128k people are following them on Instagram.

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Kreyol Essence Reviews

Those who do not have any idea about Haitian Black Castor Oil should know that this magical element is highly useful for everything. You may use this for fever, congestion, scars, pain, hair growth and many more.

We know that castor oil was widely used in Ancient Greece as body and hair lotions. Besides this, the Egyptians in 4000 BC also used this magical element around their eyes to reduce glare from the sun. The citizens of the U.S. started to use castor oil in the early 20th century to heal constipation and ear infections. Currently, most people who want to thicken, moisturize and grow hair use castor oil. They also use castor oil to soften or heal corns and even to fix stretch marks or scars.

The main element of the products of Kreyol Essence is Haitian Black Castor Oil. This type of castor oil can be gained only by using a conventional hand-processing technique that refers to cooking, grinding and roasting the castor seeds.

This Haitian Black Castor Oil contains Omega 6 and 9 fatty acids, high amounts of Vitamin E, and many more minerals and proteins. There is no oil available in the market except Kreyol Essence which contains 80-90% concentration of ricinoleic acid. That is why this oil is capable of healing and moisturizing the body, skin and hair so efficiently.

All the skincare and haircare products of Kreyol Essence are prepared by using organic Caribbean elements. The company uses farm-grown seeds for the oil. The company has managed to give jobs to more than 300 farmers who grow and harvest these elements. The company is providing beauty solutions to a huge number of women particularly those who are residents of poverty-stricken regions.

The castor oil seeds that are used by Kreyol Essence are harvested after 6 months. After that, they are mashed and roasted and steamed for the best result. That is why, the products of Kreyol Essence are capable enough to give deep and penetrating nourishment to the hair and skin of the customers.

Furthermore, the people who have skin problems like psoriasis and eczema, these products are very useful for them.

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What are the advantages of Kreyol Essence products?

• All the products of Kreyol Essence are 100% organic.
• The company uses environment-friendly formulations.
• The company has introduced a wide range of hair, skin and body care products.
• The products do not create any side effects for sensitive skin.
• The products of the company provide perfect thickness. That is why it is easy to apply.
• The products of Kreyol Essence help to cure, moisturize, and rejuvenate damaged skin and hair.
• The products of the company are non-GMO, unrefined, vegan and hexane-free.

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What are the disadvantages of the products of Kreyol Essence?

• A few users have complained that they have faced a slight problem with their droppers for which their solution was wasted a little.

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Kreyol Essence’s Net Worth

Kreyol Essence declared that in 2019, their net sales exceeded $2 million. When the company appeared on Shark Tank, the worth of the company was $800,000. The actual net worth of the company has not been yet revealed this year.

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What offer did the owners of Kreyol Essence walk away after the Shark Tank Episode?

Stephane and Yve-Car came up on the popular television show Shark Tank intending to get an investment of $400,000 in exchange for a 10% stake in their company, Kreyol Essence.

 As soon as the founders of the company pitched their products on the shark Tank stage, they grabbed the attention of the sharks very quickly. The sharks were highly impressed. But the business had at that time a debt of $300,000. The sharks did not like it at all.

Mark, Lori, and Barbara showed their concerns about the debt and the shortage of clinical testing.

On the other hand, Kevin O’Leary was impressed by the potential of the company though he observed the risk. Still, he was ready to invest $400,000 in the company in return for a 37% stake in the business.

The founders then chose to give him a counteroffer with a royalty deal. Hence they said that they would give 5% equity along with a 25 cent royalty per product sale if he invested $400,000 in their business.

Kevin O’Leary finally accepted the counter proposal and the deal was finally made.

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Kreyol Essence Shark Tank Update

After appearing on Shark Tank, the company was operating successfully. They changed their business policy. Hence they decided to sell their proxy ts directly to the customers. They are now trying to introduce their products in the Caribbean market.

The company has given jobs to a lot of Haitians and they have signed contracts with more than 300 Haitian cultivators. Momperousse always wanted to empower her community. This was her ultimate aim.

You will be able to buy the products of the company from different online stores like Goop, Amazon, and Ulta. You may also visit their online store if you want to buy their products.

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Conclusion

Kreyol Essence is a popular hair and skincare company that is unique due to its organic components all of which are derived from Haiti. The farms of Haiti are the home to several largest bio-diversities in the Caribbean which contain 5600 species of plants.

The biodiversity of Haiti and the signature ingredient of Kreyol Essence,  Haitian Black Castor Oil combine to provide the customers with dreamy fragrances and they get spa-like treatments. Moreover, all the products of the company can be used easily, they provide the best results and they are available at reasonable rates. That is why the company has become so successful and is still now thriving in the market successfully.

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