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Meet Yve-Automotive Momperousse and Stéphane Jean-Baptiste, a pair from Haiti at the back of the eco-friendly good looks logo Kreyol Essence who secured a $400,000 handle Kevin O’Leary on Shark Tank. In simply 3 years, the funding now not most effective helped build up their gross sales by way of 50% but additionally were given them out of a $300,000 debt.
In 2020, the married couple seemed on Shark Tank to pitch their logo Kreyol Essence, which sells herbal merchandise infused with natural Haitian Black Castor oil identified for selling wholesome pores and skin, hair expansion, and extra. The duo shared how they effectively raked in $1 million in 2018 however confronted hurdles after dropping their largest purchaser and amassing $300,000 in debt, in step with AfroTech.
Momperousse and Jean-Baptiste had been searching for $400,000 for 10% of Kreyol Essence. After intense negotiations, they agreed to Kevin O’Leary’s be offering of $400,000 for five% fairness and 25 cents in perpetuity.
The funding deal had an instantaneous have an effect on, using a vital 50% build up in Kreyol Essence’s gross sales. Their merchandise received fashionable reputation, now to be had in main shops like Ulta, Amazon, JCPenney, and Sprouts Farmers Marketplace.
However the tale does not revolve only round earnings. They made a promise that each and every acquire from their logo would make a good international have an effect on. Kreyol Essence is on a undertaking to create sustainable jobs, offer protection to the surroundings, and empower ladies. If truth be told, 90% in their group incorporates ladies.
Additionally, after simply 3 years since their Shark Tank look, their industry reportedly skyrocketed by way of a staggering 529%. Kreyol Essence made it to No. 44 at the listing of Inc. Mag‘s “Regionals 2023: Southeast” that includes 200 firms making an oversized have an effect on within the Southeast.
Be informed extra about Kreyol Essence by way of its reliable web page at KreyolEssence.com
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