Kreyol Essence Net Worth: Journey of Kreyol Essence from Bottom to Top!

kreyol essence net worth

The foundation of Kreyol Essence, a skincare business with headquarters in Miami, is its distinctive component, Haitian castor oil.

Haitian black castor beans are cultivated, gathered, and processed by this social company, which benefits local populations there. Around 300 farmers and women producers who live in Haiti’s impoverished regions are given jobs through Kreyol Essence. The business extols the virtues of its all-natural, ethically produced goods.

Ricinoleic acid is the key ingredient in Haitian black castor oil. In comparison to other castor oil brands, Kreyol Essence makes and uses Haitian black castor oil, which contains 80–90% ricinoleic acid.

Due to the deeper penetrating moisturization made possible by this, Kreyol Essence products are advantageous for users who suffer from psoriasis and eczema. Additionally, it is fantastic for encouraging hair growth and maintaining healthy, moisturized hair.

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The Beginning of Kreyol Essence

Haiti’s terrible earthquake in 2010 served as Yve-Car Momperousse’s inspiration for founding her business. Her mother informed her that in order for the citizens of her nation to survive, they would now more than ever need work because they cannot rely solely on donations.

kreyol essence net worth

To aid farmers in Haiti, Momperousse decided to launch a business using Haitian black castor oil. She was drawn back to the miraculous oil that her mother used for everything, from soothing dry skin to aiding in the regeneration of damaged hair, possibly as a result of her previous “hair catastrophe.”

In 2013, Momperousse and her husband Stéphane Jean-Baptiste formally created Kreyol Essence following a period of reflection, spending all of her funds, and self-education in business.

What Offer Did Shark Tank Make to Kreyol?

Stephane and Yve-Car entered the Shark Tank show seeking a $400,000 investment package in exchange for 10% ownership of the company. The Sharks were quite impressed with their pitch, but they were not pleased with the company’s $300,000 in debt.

Concerns regarding the debt and the absence of any clinical test findings were shared by Barbara, Lori, and Mark. Kevin O’Leary, on the other hand, liked the possibility but recognized the danger. He made them an offer of $400,000 in exchange for 37% of the company.

The couple made a counter offer of $400,000 for a royalty agreement that included 5% equity and a 25% cut of every sale. The agreement was completed when Kevin agreed to the counteroffer. Kreyol Essence earning $4 million in annual revenue

After Shark Tank, What Happened to Kreyol Essence?

The Kreyol Essence founders have spoken with O’Leary’s team about brand strategy and financial planning since the Shark Tank episode was filmed.

Following the premiere of the Shark Tank episode from season 11, all Kreyol Essence goods on Amazon were gone in a matter of hours. The following are some of the Kreyol Essence goods available on Amazon.

Has Kreyol Essence Continued to Operate Today?

Today, Kreyol Essence is undoubtedly thriving. They even released Shark Tank bundles after their appearance on Shark Tank generated such favorable press and revenue.

Products from Kreyol Essence are currently sold in 150 outlets and 350 Whole Foods stores in the United States and Canada. The company is also considering opening up shop in Europe soon.

This year, Ulta rolled out Kreyol Essence nationally to its 1,200 shops across the USA and online. Additionally, thanks to the company’s alliance with retail behemoth Ulta, more customers can now access and see their items.

kreyol essence net worth

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What Is Kreyol Essence Currently Worth?

Kreyol Essence declared that its net sales in 2019 were more than $2 million.

This is already far higher than O’Leary’s $800,000 valuation, which he arrived at when he proposed a $400,000 investment in exchange for a 5 percent stake in the business. The corporation has not yet published its actual net worth for the year.

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Mary

I'm a researcher and behavioural therapist with a PhD in Social Media. I also love to travel and drink coffee. Follow my adventures around the world, or just know that I really need to be back at the library.