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States and Asia( Malaysia and Singapore), among others. Agence Française, for its part, had a network of agents and foreign correspondents.” When the two companies merged in 2006, the stated objective was that 1 + 1 = 2.5( and not two). Indeed, the commercial strength of the two companies was inferior to that of the Anglo-Saxon firms. Ultimately, the result proved more than conclusive, as the combination of the two entities led to growth equivalent to 3 or even 3.5.“ The merger of commercial and technical strengths reinforced and improved the alchemy, making the sum of the two highly productive,” comments Éric Hoyeau. Today, the agency can boast a strong network of international representatives working in close collaboration with the bloodstock team in France, enabling it to offer new valuation outlets for the French market and to support its continued growth. By comparison, in the trotting discipline, the market and culture being different from those of Flat racing, the merger took place in two stages. The process and objectives were the same, but the international dimension did not carry the same weight. At the creation of ARQANA, turnover for both disciplines stood at € 70 million. Rapidly, Flat racing rose to € 100 million and trotting to € 20 million. Over the years, Flat sales surpassed the € 200 million mark, while trotting remained at € 20 million. The
€ 230 million turnover threshold was exceeded in 2023. The growth factors are linked to the strength and depth of the market thanks to its international activity. French industry professionals who followed this momentum, along with foreign investment in France, helped sustain this growth.“ You have to seek out the supply that matches demand. The most telling example is the Breeze-Up. In 1989, when I started, I recruited three horses. Today, there are around 170 quality lots,” explains Éric Hoyeau. The reasoning is simple: when entering a country, one must identify buyers’ needs and then assemble the supply to attract them.“ Thus, an institutional visit attended by representatives from Malaysia and Singapore enabled me to identify a need for horses in training. We therefore directed them towards the Arc sales. At the time, few Europeans travelled there. The market was mainly occupied by Australians and New Zealanders. There were very good results until the market weakened and then disappeared with the closure of the Singapore racecourse. Opportunities must always be sought, and we were able to generate the supply they needed,” continues Éric Hoyeau. By contrast, Hong Kong is a difficult market to penetrate because the supply available in France does not fully meet their requirements. The Japanese market, meanwhile, is performing well. There have been very good results with French mares or fillies that performed on the track and subsequently became excellent broodmares through their progeny. At the same time, depending on the country, ARQANA has been able to capitalise on existing structures. Agence Française had a correspondent in Australia, and ARQANA relied on this network to develop in that region and has recorded excellent figures there ever since. A first international milestone had been reached thanks to Philippe Augier, a second in 2000, and another at the time of the merger. There is little doubt that ARQANA will continue its growth thanks to its internationally oriented commercial strategy.
BY CÉCILE ADONIAS
ONLINE SALES
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THE CREATION OF A NEW SOURCE OF VALUE
A strong growth driver and an essential tool during the COVID period, online sales enable vendors and buyers alike to offer horses throughout the year, outside the traditional and established physical sales.
In France, the leading auction house for racehorses, ARQANA, launched its platform, ARQANA Online, in 2015. Since then, this market segment has continued to
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