Elaboration d'un plan de gestion de la réputation comme levier de la performance d'une petite entreprise du luxe belge : Filles à papa

Abstract

The luxury industry has evolved and is now dominated by multi-brand publicly owned groups. The small high-end luxury firms have to compete against them without possessing the same amount of resources. As a consequence, the reputation seems to be the appropriate leverage to gain a competitive advantage and to enhance the global performance of these firms. Indeed, the reputation is an intangible and stable asset, which makes it difficult to replicate and lasting. The reputation has an impact on consumers’ mind by acting as a driver of purchase. Besides, it enables the firm to charge higher prices because of the added value it provides to the product. Then, the reputation enlarges the attractiveness of the firm regarding the applicants, which allows it to pick the more skilled ones and to benefit from a high degree of commitment and productivity. Therefore, the reputation increases the overall profitability of the firm and raises the interest of investors. If the company attracts additional capital, it means that it gets access to new resources that it can allocate partly to improve again the management of its reputation. By doing so, the firm enters thus a virtuous circle. However, the development and the management of the reputation are complex activities. This paper is written around the particular case of Filles A Papa, a luxury ready-to-wear Belgian brand. The company is growing at a high speed and benefits from a strong and unique image. However, the global performance at the end of 2016 is below the standards of the industry. Moreover, the brand awareness remains limited. At this point, the take-off of the business relies on the definition of a clear strategy. For this purpose, we will study the option of developing a plan of reputation management. Indeed, the management of the reputation and all the benefits it triggers seems to be the answer needed to overcome this situation and to ensure a sustainable competitive advantage for the company. As a consequence, we will first look into the dynamic of the reputation thanks to the application of the Reputation Clock in order to understand the underlying mechanisms behind the accumulation and the dilution of reputational capital. We will then use the Reputation Quotient as a structure for a detailed analysis of the current state of Filles A Papa’s reputation. Finally, we will develop a strategic plan aiming at the increase of the reputational capital that will be operationalized through the presentation of an action plan over 3 years.