Press release: In2Action Capital invests in Mylène together with management
Monday, 1st of August 2022 - Mylène, a producer and distributor of high-quality beauty products, has a turnover of more than €20 million and has been a reference in its sector since 1965. The beauty products are mainly distributed through direct sales, with personal experience and targeted advice as core ingredients. The further development of an omnichannel approach should help to ensure further growth.
People are the focus at Mylène. The strong connection with the network and its professional framework is the foundation of the successful formula, and it will continue to be strongly promoted in order to continue to make a difference.
To support further growth, In2Action Capital (I2A) is injecting capital. The transaction is a Management Buy Out: the key management team is also investing in the company to realise ambitious plans together.
In addition, the Welvaartsfonds is helping to support further growth by providing a loan.
The corona crisis was challenging for the company because one of the pillars of its operation, direct sales, was temporarily banned. Fortunately, that period is over. The management firmly believes in the group’s potential and, together with In2Action Capital, has purchased all the shares previously held by the Vision Health Care Group.
Ready for a shiny future!
“The future is bright! We are firmly convinced of this at Mylène. We are brimming with new plans to firmly establish our position in the beauty market at home and abroad. To achieve this, we put together a new, experienced management team that will take over the helm for the future,” says Managing Director Kevin Vonckx.
Kathleen Krol, Business Operations & IT Director: “We are working hard on an integrated and efficient IT system so that internal and external processes run easily, smoothly and correctly. I look forward to becoming a forerunner as an omnichannel network company.”
Filip Meersman, Operational Director: “Innovation is an important pillar in every company, including Mylène. In the coming years, we will focus on developing new products as well as producing other brands in our factory.”
Charlotte Giroud, Sales and Marketing Director: “At Mylène, our 1,500 consultants and their network of hostesses are at the heart of our strong Belgian brand. Our consultants work with high-quality, local and unique Mylène products every day, so we see a lot of potential in the market. Passion is the magic ingredient to make Mylène shine even brighter.”
Paul Ponnet, Financial Director: “In recent years, we have faced great challenges, but our company’s health has endured. What’s more, we are seeing growth again. I am sure that we will have a bright future together!”
Kevin Vonckx, Managing Director: “Our roots, core and values remain unchanged. Together, we continue to build on the famous Mylène DNA. With the emphasis on together, because WE are Mylène. We can do that even better with future-proof tools. And with an experienced management team that combines valuable internal and external expertise.”
“The ‘together’ aspect – We are Mylène – is also the motto of the new management team taking over the company. We do this together with our investment partner, In2Action Capital. It’s a strong partnership that enables us to make well-considered investments and shift to a higher gear for the company and its employees. We are taking the right steps towards a Mylène that will shine even more,” he adds.
For In2Action Capital, this is the first investment:
“Mylène meets the fund’s investment criteria perfectly. Despite some difficult years, due to Corona, the company has great potential. It offers excellent products and combines a revamped approach to direct sales with an omnichannel approach. We are impressed by the professionalism, experience and motivation of the entire team and strongly believe in further profitable growth,” said Joost Verdiesen of In2Action Capital.
Mylène a strong brand:
Mylène was founded in 1965. Over five decades, the company has grown into a successful player with its own research and development laboratory and a modern, in-house production site in Heist-op-den-Berg. Mylène is active in Belgium, the Netherlands, Luxembourg, France and Germany. Strong local roots and a personal approach are the company's recipe for success. For more information: Kevin Vonckx, CEO, tel. +32 486 80 99 66; www.mylene.eu
About In2Action:
Founded in 2020, In2Action Capital is an investment fund dedicated to investing in Belgian SMEs. The focus is on ‘special situations’ where financial resources are provided to companies with a future but which are temporarily facing structural, operational or financial challenges (e.g. turnarounds). In2Action Capital is flexible in structuring transactions to meet the specific needs and opportunities of the parties involved. The fund is actively involved in the investee’s further development. For more information: Peter Kloeck, Joost Verdiesen, In2Action Capital, tel. +32 3 689 45 01; www.in2actioncapital.be
About the Welvaartsfonds:
The Welvaartsfonds is a joint commitment of the private and public sectors to continue developing economic recovery. The resources of the Welvaartsfonds will help to bring the Flemish economy back to pre-corona levels more quickly. It offers a solution to the possible solvency problems of Flemish companies caused by the corona crisis. In addition to the Flemish government, which invests in the Welvaartsfonds via PMV, AG Insurance, Allianz Benelux, Baloise Belgium, Belfius Insurance, BNP Paribas Fortis, Ethias, the Federal Holding and Investment Company (SPPI-FPIM), KBC and the P&V Group have also pledged funds to speed up economic recovery. www.welvaartsfonds.eu
