{"id":43405,"date":"2022-06-07T06:40:13","date_gmt":"2022-06-07T04:40:13","guid":{"rendered":"https:\/\/www.tipandshaft.com\/?p=43405"},"modified":"2022-06-03T19:41:01","modified_gmt":"2022-06-03T17:41:01","slug":"french-ocean-racing-competition-between-banks-is-hotting-up","status":"publish","type":"post","link":"https:\/\/sailorz.com\/en\/eco-business-en\/french-ocean-racing-competition-between-banks-is-hotting-up\/","title":{"rendered":"French ocean racing: competition between banks is hotting up"},"content":{"rendered":"

From the Ark\u00e9a Ultim Challenge to the recent Banque Populaire Grand Ouest Trophy and so including the Transat CIC and the CIC Normandy Channel Race and of course including the Figaro, Class40, Imoca and Ultims in the colors of Cr\u00e9dit Mutuel, Arkea and their competitors, the sponsorship battle is hotting up between major players in the French banking sector<\/strong> who see a great value in partnerships in offshore and ocean racing sailing. Tip & Shaft investigates.<\/em><\/p>\n

Sailing has always attracted partners from the banking sector starting out with pioneering brands like Cr\u00e9dit Agricole – sponsor of Philippe Jeantot from 1983 to 1991\u00a0\u2013 but head and shoulders above the rest is Banque Populaire which started out in sailing in 1989 with Francis Joyon.\u00a0“In 2000 we became a partner of the FF Voile. We then decided to become \u2018the sailing bank\u2019<\/strong> as there is a tennis bank (BNP Paribas) and a rugby bank (Soci\u00e9t\u00e9 G\u00e9n\u00e9rale)”,<\/em>\u00a0recalls Thierry Bouvard, sponsorship ans patronage director at BPCE group. They are now sponsors of Armel Le Cl\u00e9ac’h in the Ultim and Clarisse Cremer in the Imoca. But Banque Populaire are also present in the territories via their regional subsidiaries, particularly in the West of France where Banque Populaire Grand Ouest<\/strong> (BPGO) supports both sailors and events.<\/p>\n

But the historic sailing sponsor are seeing its leadership in the sport increasingly challenged<\/strong>. If BPGO were the main partner of the Route du Rhum-Destination Guadeloupe in 2018, they were then replaced by the CIC<\/a>\u00a0for the\u00a02022 edition.\u00a0“Immediately after the last edition, we spoke with Banque Populaire Grand Ouest to discuss the continuation of the partnership,\u201d<\/em>\u00a0explains Joseph Bizard, general manager of OC Sport Pen Duick.\u00a0\u201cWe made a proposal which obviously did not find a positive feeling<\/strong> since they did not follow up; and time was pressing so we asked CIC, with whom we had built the Transat CIC [which did not take place in 2020, editor\u2019s note].\u201d<\/em><\/p>\n

That is a notion which not the one of\u00a0Maurice Bourrigaud<\/strong>, CEO of Banque Populaire Grand Ouest:\u00a0\u201cWe had entered into negotiations to renew the partnership and at the third stage of the planned duration of this negotiation, OC Sport warned us that they had chosen the CIC. So it was absolutely not the choice of BPGO<\/strong>, on the contrary we would have liked to be the main partner again.\u201d\u00a0<\/em>He adds:\u00a0“Now, I respect the decision of OC Sport and the fact that the CIC took the place place such is the the law of the open market.<\/strong> I explained my way of thinking to OC Sport, we are long-term allies and of course we will work together again I am sure.”<\/em><\/p>\n

 <\/p>\n

Arkea goes up in power<\/span><\/h2>\n

 <\/p>\n

The episode serves to highlight the increasing competition in recent years<\/strong> between Banque Populaire, the Cr\u00e9dit Mutuel group (owner of CIC) and Cr\u00e9dit Mutuel Ark\u00e9a (rivals with the Cr\u00e9dit Mutuel group), competition which has taken on a new dimension in recent month. Present for several years on the Figaro Beneteau circuit – in particular with the Bretagne-Cr\u00e9dit Mutuel de Bretagne -, partner with Paprec in the Imoca, of S\u00e9bastien Simon on the last Vend\u00e9e Globe and now with Yoann Richomme on the next one, Cr\u00e9dit Mutuel Ark\u00e9a is thus became the title partner<\/a> of the Ark\u00e9a Ultim Challenge<\/strong> last April, an Ultim solo race around the world from Brest, for the first two editions (2023 and 2027).<\/p>\n

\u201cWhen OC Sport contacted us, we were quite quick to decide and it was really because a combination of elements made this partnership obvious and natural,<\/strong>\u201d<\/em>\u00a0explains C\u00e9dric Malengreau, director of the general secretariat and institutional communication at Cr\u00e9dit Mutuel Ark\u00e9a. \u201cFirstly, our head office is in the the Brest area, then because the race brings together different institutions with which we have close and regular relations.”<\/em><\/p>\n

The latest to arrive in the arena, Cr\u00e9dit Mutuel and its subsidiary CIC, made a sensational entry into the market<\/strong>: first by embarking on the Class40 circuit with Ian Lipinski in 2018, then by becoming title partner<\/a> of The Transat CIC<\/strong> in 2019,\u00a0the major partner of the Route du Rhum<\/strong> in 2020\u00a0and title partner<\/a> of the CIC Normandy Channel Race<\/strong> in 2021!\u00a0“CIC’s commitment corresponds to our desire to position our network with the local economic ecosystem<\/strong>and the race attracts from this point of view a significant number of companies and economic players, particularly in the regions of the west of France”,<\/em>\u00a0justifies Daniel Baal, Managing Director of Cr\u00e9dit Mutuel Alliance F\u00e9d\u00e9ral and CIC.<\/p>\n

 <\/p>\n

The response of Banque Populaire to CIC<\/span><\/h2>\n

 <\/p>\n

Banque Populaire responded quickly: BRED, a subsidiary of the group well established in Normandy and overseas, became the main partner<\/a> of the Transat Jacques Vabre 2021<\/strong>, before BPGO took on the naming partnership<\/a> of Spi Ouest France<\/strong> the same\u00a0year. And now the new BPGO Trophy<\/a>. Finally, very recently, it became official partner<\/a> of the Vend\u00e9e Globe<\/strong>, the first private partner after Sodebo.<\/p>\n

The question is was it to close the door to others?\u00a0“We do not make our marketing strategy by looking at what others are doing<\/strong>, but according to what we need to tell and share with our public, our customers, our members and our collaborators\u201d,\u00a0<\/em>answers Thierry Bouvard. \u201cWe tell a story that’s been established for a very long time, others have more of a desire for exposure at some point. Our goal is not to get into one-upmanship with anyone.”<\/em><\/p>\n

“The eviction of Banque Populaire Grand Ouest from the Route du Rhum was a strong enough catalyst for their decision to come to the Vend\u00e9e<\/strong>, knowing that others were interested in taking it on\u201d, however analyzes onemarket player. \u201cOn the Ark\u00e9a side, the tension with the Cr\u00e9dit Mutuel group are also probably playing into this competition. And I think it’s not over.”\u00a0“We are always on the lookout for events or actions that reflect our values and resonate throughout the territories, so it is not impossible that other initiatives will be taken in the future<\/strong>,” <\/em>confirms Daniel Baal for Cr\u00e9dit Mutuel.<\/p>\n

 <\/p>\n

The issue of the branding in the sails<\/span><\/h2>\n

 <\/p>\n

In any case, this competition benefits the organizers… who may be tempted to capitalise on it. Mathieu Sarrot<\/strong>, co-shareholder with Emmanuel Bachellerie of Ultim Sailing, which organized the BPGO Trophy and takes care of the new Finist\u00e8re Atlantique Challenge Action Enfance – for which he asked BPGO to come on board, refuses to play this game<\/strong>: “It’s clear that we see that the market is hot in the banking sector in the west of France. Now, I’m more about good relationships than just a seeker of short term gains, I prefer to retain a partner.\u201d<\/em><\/p>\n

There is one issue which seems set to be contentious, the branding of sails in the colors of the race partner. During the BPGO trophy, the title sponsor agreed not to brand the sails of the Figaro Beneteau to prevent its logo from appearing on those of the two Bretagne-Cr\u00e9dit Mutuel de Bretagne boats.<\/p>\n

“The subject is quite sensitive<\/strong>,<\/em> as Thierry Bouvard acknowledges, who will be confronted with it when Clarisse Cr\u00e9mer races The Transat CIC or when Armel Le Cl\u00e9ac’h sets off on the Ark\u00e9a Ultim Challenge. “Our wish is that we should not create confusion between our brands, so we do not want to wear the CIC or Ark\u00e9a brand on the sails of Banque Populaire<\/strong>. We have to discuss it maturely and intelligently. ”\u00a0<\/em>Joseph Bizard, organiser of the two races, answers: “We’ve already been confronted with this in the past, and we’ve been able to manage it,. So there’s no reason why we can’t handle it again.”<\/em><\/p>\n

 <\/p>\n

Photo: Yvan Zedda\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

From the Ark\u00e9a Ultim Challenge to the recent Banque Populaire Grand Ouest Trophy and so including the Transat CIC and the CIC Normandy Channel Race and of course including the Figaro, Class40, Imoca and Ultims in the colors of Cr\u00e9dit Mutuel, Arkea and their competitors, the sponsorship battle is hotting up between major players in the French banking sector who see a great value in partnerships in offshore and ocean racing sailing. Tip & Shaft investigates.<\/p>\n","protected":false},"author":13,"featured_media":43394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[251],"tags":[],"class_list":["post-43405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eco-business-en"],"yoast_head":"\nFrench ocean racing: competition between banks is hotting up - Sailorz<\/title>\n<meta name=\"description\" content=\"The sponsorship battle is hotting up between major players in the French banking sector who see a great value in partnerships in sailing.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sailorz.com\/en\/eco-business-en\/french-ocean-racing-competition-between-banks-is-hotting-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"French ocean racing: competition between banks is hotting up - 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