Stephane Jean-Baptiste and Yve-Car Momperousse pitched their Haitian castor oil products during
If you’re short on time, here’s a quick overview of what happened to Kreyol Essence after
Stephane and Yve-Car Momperousse appeared on
|$400,000 for 5% equity, plus $0.25/unit royalty in perpetuity
Shark Tank Kreyol Essence Update
- Entrepreneurs: Stephane Jean-Baptiste and Yve-Car Momperousse
- Business: Haitian castor oil beauty products
- Ask: $400,000 for 10% equity
- Result: $400,000 for 5% equity and $0.25/unit royalty in perpetuity
- Shark: Kevin O’Leary
Kreyol Essence is doing more than just making beauty products. Owners, Stephane, and Yve-Car are creating jobs for women in their cultural home of Haiti.
Helps with hair growth and thinning. Moisturizes, adds shine to hair and skin. Soothes, calms and helps with the appearance of stretch marks. Rich in Vitamin E, Omega 3, 6, 9.
Unlike some entrepreneurs that come to
Additionally, they also tote that their oil can help promote hair growth. Then, during their pitch, they give the sharks a box of their products, and all agree that they look and feel great.
Yve-Car explains their previous earnings for Kreyol Essence, including the $1 million in revenue they earned in 2018. Further, they’ve pivoted towards direct-to-consumer sales, and they’ve also just signed a deal with ULTA Beauty, which is one of the largest beauty companies in the US.
Despite the company’s high sales, Barbara Corcoran is the first shark to drop out, because the business is too dependent on Yve-Car herself. Likewise, without the remarkable salesmanship Yve-Car brings to the table, she doesn’t think it’s scalable.
Mark Cuban follows out. Although he likes the product, he doesn’t think that the company is investable.
Next up is Daymond John, who says he doesn’t have any expertise in the beauty world, so he also drops out.
Lori Greiner is next, and she says that because the product doesn’t have clinical trials for hair growth and other aspects, she is out because of the risk.
Last but not least is Kevin O’Leary is interested and makes them a sharky deal of $400,000 for a 37% stake in the company. The entrepreneurs say this is just too large an ask, and try to convince him otherwise.
Stephane gets emotional, but even this doesn’t sway Kevin. They eventually counter with a royalty offer, which immediately piques Kevin’s interest.
They ultimately offer $400,000 in exchange for a $0.15 per unit royalty, in perpetuity. Eventually, Kevin counters, raising the royalty to $0.25 and 5% equity.
Finally, Stephane and Yve-Car agree to the deal, but what happens following
Is Kreyol Essence selling as well as the entrepreneurs believed it would? Keep reading our
Research for our Kreyol Essence update revealed good news! The company is doing better exceedingly well, and better than ever before. In 2023, the company is pulling in an estimated $4 million in revenue per year.
We got a chance to interview Stephane and Yve-Car to see how Kreyol Essence is doing after
Yve-Car added, “We’ve successfully broadened our retail partnerships, securing placements in national chains such as Ulta Beauty, Whole Foods Market, and JC Penney Salons.”
As for the deal with Kevin, Yve-Car and Stephanie shared that they decided not to go through with it, due to the perpetual royalty. “We decided not to proceed with the deal with Kevin after the show, as it was hard to agree to a perpetual royalty if we could not also agree on perpetual activities he or his team would be involved with for brand growth,” Stephanie told us.
Despite the deal not going through, things have worked out great for the company, as Stephanie and Yve-Car told us that revenue has grown 540% since
If you’d like to check out some of their products, be sure to visit the Kreyol Essence website, Amazon, or one of their retail partners!
The future looks bright for Stephanie and Yve-Car, and we can’t wait for our next Kreyol Essence update!
You can find the other company updates from Season 11 Episode 11 here:
For even more on companies and products, be sure to stop by our Season 11 products page!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!