Guiding a growing SME
Within the space of ten years, Lamett has put itself on the map. The West Flemish manufacturer and distributor of high quality wooden flooring, has a staff of 300 people around the world and markets in more than 20 countries. To help plan its next steps, the company reached out to Deloitte Accountancy.
Bruno Descamps, Lamett’s CEO, thought it was time for a strategic analysis. "The exercise would be an excellent reflection opportunity,” he explains. The company had achieved its growth by implementing a consistent, clear vision and creating an identity. “What we do on the ground affects how our company is perceived by the outside world. We fulfil this with credibility, reliability and daring, and investing in good people. Building our reputation is one of our core values."
Why did the company choose to work with Deloitte Accountancy? According to Bruno Descamps, "We wanted to sit down with people who could guide us in the right direction. After the first meeting with Deloitte we had a true feeling of satisfaction and were able to see some really tough issues in a new light. It took us to a whole different level."
Karel Vercruysse, Director at Deloitte Accountancy adds, “The company decided to set up a strategic growth plan. They discussed where they were in the value chain, what direction they wanted to take and what their weaknesses were.” This SWOT analysis led to a process of systematic organisation guided by Deloitte practitioners. “It’s something we could never have done with the same discipline," says Bruno Descamps.
Entrepreneurship, innovation and broadening its value chain: these were the key drivers of Lamett’s successful growth over the last four years.
Karel Vercruysse, Director, Accountancy
“It became clear that Lamett’s distribution model was stuck between production and retail,” remarks Karel Vercruysse. The solution was to make a larger impact in the value chain. “We decided to take the lead on the side of production and produce more ourselves. But also be more assertive on the retail side and approach customers directly without offending our partners,” Bruno Descamps explains. While remaining a B2B company, Lamett is gradually evolving towards a cross-channel model, allowing consumers to shop directly instead of having to go to dealers.
The internet and the increasing autonomy and knowledge of consumers pose a large challenge for the company. “The market is like a big bus,” Bruno Descamps says. “In the past the producer sat at the steering wheel and determined what consumers were going to eat, wear or buy. Transparency at the consumer level is thus our biggest threat. On the other hand, consumers are attaching greater importance to sustainability and increasingly requiring environmental certifications.”
What did the company learn about strategic planning? "You have to plan at the right moment,” Bruno Descamps says. Karel Vercruysse agrees, “When they started out, some processes were already underway, which led to acceleration and decisiveness.”
After the first meeting with Deloitte we were able to see some really tough issues in a new light. It took us to a whole different level.
Bruno Descamps, CEO Lamett