In2Action invests with management in Mylène
With sales of over €20 million, Mylène is a reference in its sector since 1965 as a producer and distributor of high-quality beauty products. These products are currently distributed mainly through direct sales, with personalized experience and targeted advice as key ingredients. The further development of an omnichannel approach should contribute to further growth. At Mylène, people are central. The strong link with the network and the professional support thereof is the foundation of the success formula and will therefore continue to focus on making the difference. To support its further growth, In2Action Capital (I2A) invested in the company. The transaction is a Management Buy Out: the key management team also invests in the company in order to realize the ambitious plans together. In addition, the Welvaartsfonds will support further growth by providing a loan.
The corona crisis was obviously a challenging period for the company, because one of the pillars of its operation, direct sales, was temporarily banned. That period is now thankfully behind us. Management firmly believes in the potential of the group and, together with In2Action Capital, has therefore purchased all the shares previously held by the Vision Health Care Group.
Ready for a shiny future! "The future is bright! We at Mylène are firmly convinced of this. We are full of new plans to firmly establish our position on the beauty market at home and abroad. To this end, we have 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 smoothly and correctly. I am looking forward to becoming a forerunner as an omnichannel networking company".
Filip Meersman, Operational Director: "Innovation is an important pillar in any company, also at Mylène. In the coming years, we will focus on developing new own products and on producing other brands in our factory."
Charlotte Giroud, Sales and Marketing Director: "Our consultants and their network are the hub of our brand. And will continue to do so in the future. There is still a lot of potential in the market. I look forward to building on this."
Paul Ponnet, Financial Director: "In recent years we have faced major challenges, but the health of our company has held up. More than that, we are seeing growth again. I am sure we will have a bright future together!"
Kevin Vonckx, Managing Director: "Our roots, our core, our values remain unchanged. Together, we continue to build on the well-known Mylène DNA. With the emphasis on together, because: WE are Mylène. We can do this even better with future-proof tools. And with an experienced management that combines valuable internal and external expertise.
"The 'together' aspect - We are Mylène - is also the motto of the new management team that is taking over the company. We are doing this together with our investment partner In2Action Capital. A strong partnership that enables us to make well-considered investments and to shift up a gear for the company and its employees. In this way, we are taking the right steps towards a Mylène that will shine more than ever." he adds.
For In2Action Capital, this is a first investment: "Mylène meets the investment criteria of the fund perfectly. Despite a few difficult years due to Corona, the company has great potential due to its excellent products and by linking in a renewed approach direct sales to 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 become a successful player with its own research and development laboratory and a modern, in-house production in Heist-op-den-Berg. Mylène is active in Belgium, the Netherlands, Luxembourg, France and Germany. A strong local anchoring and a personal approach are the success recipe of the company.
For more information Kevin Vonckx, CEO, tel +32 486 80 99 66; www.mylene.eu
About In2Action: In2Action Capital is an investment fund, founded in 2020, dedicated to investing in Belgian SMEs. The focus is on "special situations", providing financial resources to companies with a future but temporarily facing structural, operational or financial challenges (including turn-arounds). In2Action Capital is flexible in structuring transactions to meet the specific needs and capabilities of the parties involved, with the fund actively involved in its further expansion.
For more information: Joost Verdiesen , In2Action Capital , tel +32 3 689 45 01 ; www.in2actioncapital.be
About Welvaartsfonds : The Welvaartsfonds is the joint commitment of the private and public sectors to continue to enhance economic resilience. The resources of the fund will help to bring the Flemish economy more quickly to pre-corona levels and offer a response to the possible solvency problems of Flemish companies due to the corona crisis. In addition to the Flemish government, which is investing in the fund through PMV, AG Insurance, Allianz Benelux, Baloise Belgium, Belfius Insurance, BNP Paribas Fortis, Ethias, the Federal Participation and Investment Company, KBC and the P&V Group have also pledged resources to speed up the economic recovery.