Guys,
Audencia and SKEMA too come under grand ecoles. However,SKEMA is younger. and stil has not received the triple accredition. They are good too.
Now, about reputation... Of course HEC,ESCP,ESSEC are notoriously selective but looking at the french economy- 2nd largest in europe with 35 top notch fortune 500 companies head quarters...3 b-schools just cannot produce enough professionals. And thats when EM Lyon,EDEHC,Audencia,SKEMA,Rouen,ESC Toulouse,Reims comes into picture. They are very good too in terms of their placements and value for money.
We can see the analogy in India. IIMA is the only BSchool to come in international rankings. But this does not mean that IIMB,IIMC,XLRI or IIFT are not good schools. These bschools too have top notch placements. And we are looking at a country with moderate economy with only 7 fortune 500 companies compared to 35 in france.....
And if u look closely at the grand ecole program ie G16 then any bschool that comes in the G6 is a very good school.
I have got feedback from one of my contact who is spending a semester in ESSEC from IIMA. Another guy is doing 1 semester in EDHEC from IIMA. They speak highly of Audencia and SKEMA and EDHEC too.