By Roza Kovak. The luxury house is known for its formalwear and sharp tailoring. A great sales force can make a difference, in terms of proposing a silhouette. Luckily, everyone in Bellettinis team did speak English with her. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Specifically, by handing greater autonomy and authority to local market chiefs, the brand has been able to connect far better with audiences in each region. Saint Laurent is the second largest Kering house (representing 13 per cent of the group sales) behind Gucci. cookies Can New Bottega Balance Hype, Heritage and Rapid Growth. Bellettini recommended her viewers to always be observant of a companys culture before applying for a job. Well keep working on it because for me, the journey in sustainability is never finished. Saint Laurent wanted to be a billion-dollar company. Its no longer about brand loyalty so much as in being at the forefront of peoples minds, said Gail McInnes, fashion industry expert and CEO of Stylist Box. Together they weathered a storm of public opprobrium last March, when Frances advertising watchdog asked Saint Laurent to modify two ads created by Mr. Vaccarello after receiving dozens of complaints that they degraded women. He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking Italian. Francesca Bellettini was considered an odd choice for the heritage house but shes led it into the billion-euro club. One of the few female CEOs leading a fashion brand, Francesca Bellettini started her career as an investment banker before switching industries. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. People from her region have a disarming way of speaking that makes them sound playful even when they are dead serious. You will be charged Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. Saint Laurent was the star of the Kering Groups most recent earnings publications. First its for the people of the industry and then its for the people that look at the industry. Her poise, her elegance, her drive, all with an overwhelming optimism. If you judge everything he has been doing since he has arrived and the inclusivity he has expressed from the first campaigns, I hope people are able to recognise that. And though former Creative Director Hedi Slimane was very much a driving force for this transition, it was CEO Francesca Bellettini who ensured the success of such a risky strategy, while also overseeing a radical overhaul of the company from within. Getty. Despite a heavy workload and "massive" pressure, she said she feels secure in her career. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris.CreditMarco Cella for The New York Times. Chief Executive Officer, Yves Saint Laurent at Kering - View - Kering org chart. I am very proud because our sales associates feel their efforts can make a difference. Bellettini shared a particular story about one of the biggest mistakes of her career which put her heart out for the audience; it was vulnerable and so very important. The brand has had an inflection, according to Morgan Stanley analyst Edouard Aubin, with less black and white and more color, thus catering to a broader audience, he wrote in a note. Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand. Francesca Anderson, the rich wife of an older millionaire, can't cope with the death of her lover, who is the father of her only son, James. The scientific advance could aid people with recent hearing loss. Her obsession is paying off. Frances advertising watchdog asked Saint Laurent to modify two ads. Our Q3 performance in China was very strong, with excellent growth in-store and online. You need to be careful of not entering into this stress and anxiety of having to change and having to do everything new, every season, because half of the people havent even had the time to look at it and to experience it. Bellettini notes that tourists and local customers shop differently: tourists are in search of a better price but know what product they want, while locals are more selective. university Got some news on an exceptional woman? Kering's third-quarter earnings presentation mentions a continued appeal to younger generations. The fundamentals are even stronger, Bellettini says of the luxury houses current business, speaking in an exclusive Vogue Business interview at her marble-clad office in Paris. Francesca was Worldwide Merchandising and Communications director at Bottega Veneta, and Strategic Planning & Associate Worldwide Merchandising Director at Gucci. Bellettinis first major decision as CEO was to give Slimane more autonomy in deciding the labels creative direction a move that would firmly establish Saint Laurent as a refreshed brand, while also marking Bellettinis preference for allowing people the freedom to do what they do best. On March 10th, hundreds of excited audience members watched the zoom stage open to reveal a sneak peek of the Yves Saint Laurent headquarters in Paris; sitting in her chic pantsuit and shining a wide smile was Francesca Bellettini, CEO of YSL. Later, at the investment bank Deutsche Morgan Grenfell in London, she helped pitched deals to luxury fashion houses, and in the process met Patrizio Bertelli, chief executive of the Prada Group. Flexibility has been another. Tall and slim, Ms. Bellettini is always clad head-to-toe in Saint Laurent, which she wears with the throwaway ease of any old thing. President and Chief Executive Officer, Yves Saint Laurent. She has that rare leadership quality which allows her team members to do the work they were hired to do with little or no interference. The people shaping the global fashion industry, curated by the editors of The Business of Fashion, based on nominations and on-the-ground intelligence from around the world. Anyone can read what you share. All rights reserved. PARIS Francesca Bellettini is riding high.. The brands sales surged 45 per cent in the first three quarters of 2021, while parent groups Kering sales were up 36.6 per cent. She was a villain, then an icon. We are the only French couture house to be relevant in both menswear and womenswear. Facebook gives people. (Personal luxury goods sales dropped 22 per cent at the time, according to a Bain Altagamma study.) Bellettinis leadership has fueled the Houses expansion and enabled Saint Laurents identity to emerge, pushing boundaries forward, yet remaining true to the Houses core values. She had always loved fashion, but the job came with a 50 percent pay cut. How Saint Laurent Became a $3 Billion Powerhouse. Cathy Chai left her steady job in financeat a UN agencyin Beijing for a finance gig at Medecins San Frontieres (Doctors Without Borders) in war-torn South Sudan. Not everybody understood, because we are not very talkative; the more you explain, the less sexy a concept becomes. The change to Saint Laurent also reflected a decisive shift towards modernity, helping the brand reach young people who do not share the same connection to the original name as older generations. Apple said Mr. Deneve would be. Bellettini also believes that no job is a waste of time, even if we have to deal with bosses that we do not like. It was her fathers kind wisdom to follow her dreams at the young age of 29 that drove her to push away her fears and pursue a more uncertain path. She was appointed president and CEO of Yves Saint Laurent in 2013. Yet, what was most eye-opening was when Bellettini explained that, in fact, we must focus on choosing a job that suits us the most; we must focus on finding work that ignites a spark. When she arrived from another Kering brand, Bottega Veneta, in 2013, the. In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. It is only then can we find long-term joy and success. With the house on track to end 2021 with sales over 2 billion, CEO Francesca Bellettini believes the brand can rise even further. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. At a time when fashion is all about body positivity, Saint Laurent put thin models on the catwalk of its recent show. Premium access for businesses and educational institutions. The enshittification of apps is real. What did they know? You may change your billing preferences at any time in the Customer Center or call We see with the store reopening worldwide, we have a lot of younger customers coming, people in their 20s, buying gifts, etc., she says. Due to the extraordinary growth of the company under her leadership, she has been named by the Financial Times as one of the 25 most influential women of 2022. Con Laetitia Casta, Mathieu Amalric, Pierre Arditi, Nomie Lvovsky. The companys enviable performance can, in large extent, be attributed to a drastic and unexpected rebranding. Ms. Bellettini, 47, not only has propelled the brand into the exclusive billion-euro club a status unofficially codified last season when the Saint Laurent show was moved to the shadow of the Eiffel Tower but in doing so has also made herself one of the most powerful women in fashion, where there are only a handful of female chief executives. or Yet, this also meant that they could not hire more people either. But she did not pull the ads. Leather goods represents the lions share of Saint Laurents sales (71 per cent of the business in 2020), which puts it in the league of brands with the highest percentage. We talk a lot about strategy, where we want to go. ", The priority is to make sure the leather I use is sourced correctly. The brands glamorous, sleek aesthetic puts the house in a better position than brands betting on short term fashion trends in a pandemic when consumers seek investment pieces, says Mario Ortelli, managing director of Ortelli & Co. In a world of luxury where theres a shift towards more street, more pop culture, more logos and a very instant reading of our time, Saint Laurent remains faithful to its aesthetic and consistent in its vocabulary, says Institut Franais de la Mode professor Benjamin Simmenauer. Bellettini also shared how she still does not speak French. I said, I met Mr. Bertelli and he offered me the job of my life, and I can leave banking, she recalled. Comments, questions or feedback? Mr Saint Laurent himself said in the 70s: Why should we change a product when its already perfect? So, those people who were criticising the fact that some of our products were recurring and that we had a permanent collection probably didnt remember that it was actually part of the DNA of the brand, Bellettini told BoF. Ready-to-wear, however, is growing faster at the moment, Bellettini notes, but she adds that the breakdown per category is not meaningful. And they certainly didnt know her. Sexy concepts Bellettini proclaimed herself to be a perfectionist; and although this can be helpful to produce meticulous work, she also recognized how it does not allow for mistakes; and, mistakes are critical on the journey to growth and success. A record number of women made Britains rich list, Yves Saint Laurents chief exec talks about managing a successful fashion business, and in one area of Silicon Valley, women rule. A brand without clarity, at the end of the day, becomes just a commodity, said Bellettini at the Financial Times Business of Luxury conference in 2016. Around 60 per cent of Saint Laurent's clients were locals in 2020, according to Morgan Stanleys estimates. Bellettini says: The work that Anthony has been doing in terms of diversity of age, sex, gender, color, body type, as judged on a 360 basis, has been quite impressive, still being able to communicate the brand. View the profiles of people named Francesca Bellettini. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. Thanks to the law of 1948 and to her grandmother, the nominal tenant who is always absent, Francesca Cigalone and all her tribe (thoughtless husband, orphan sister, self-centered film maker and his mistress of the day, eccentric granny, friends, friends of the friends . Speaking of Gen Z, she says the key is to be authentic. Already a member? Continuity candidate That means you risk having more leftovers. The company has a remarkably even worldwide geographical coverage in terms of stores and customers. FORTUNE may receive compensation for some links to products and services on this website. It got everyone talking about Saint Laurent again, and also increased brand awareness with a younger audience those future loyal customers the key to brand longevity., As well as it eventually turned out for the brand, at the time few could have predicted the success Saint Laurent would enjoy as a result of the overhaul. You can still enjoy your subscription until the end of your current billing period. Her major renovation of the companys organisation not only consolidated the brands new image, but also allowed Saint Laurent to reach a whole new audience. I never have the feeling that we should do something different.. From 1999 until 2002, Ms. Bellettini worked in the Prada Group, Italy, first in the Planning and New Business Development Division of Prada and, in 2002, as Operations Manager of Helmut Lang. Ms. Bellettini said that she received a stream of hate emails, including one calling her a whore. California Weighs $360,000 in Reparations to Eligible Black Residents. Why is Anthonys ready-to-wear always pictured in the magazines with our bags and shoes? There are 12 older and 7 younger executives at Kering SA. Two Days Mattered Most. PARIS, France Kering, parent company of Parisian fashion brand Yves Saint Laurent, has announced that Francesca Bellettini will take the reins as the brand's new chief executive, effective September 1st. of Saint Laurent, she was the first name on my list, Mr. Pinault said. Under CEO Francesca Bellettini and designer Anthony Vaccarello, Saint Laurent has more than doubled sales in 5 years and is on track to surpass $3 billion in 2022. He met with Ms. Bellettini secretly, and after several interviews, including one with Franois-Henri Pinault, Kerings chairman and chief executive, was offered the job. It isn't easy. FOR those predicting another seismic shift in brand identity at Saint Laurent - following the departure of Hedi Slimane last month and the appointment of Anthony Vaccarello - you will be in for a surprise. We knew that this was a super-healthy girl who had been working with us forever and we didnt see anything bad, Ms. Bellettini said. This is why we invested a lot in training. Bellettini says: Anthony always created a very compelling and complete collection and the show in March 2020, featuring colored tailoring jackets and latex pants, gave visibility to its offer variety. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices She worked at Prada and Helmut Lang prior to. The event ended with this final question: what is the greatest piece of advice you can share to the audience? Its effective, also because the name is powerful.. When I had to replace Paul Deneve as C.E.O. Bellettini took it to that level within a three-year period. For a full comparison of Standard and Premium Digital, click here. From left, Ms. Bellettini; Anthony Vaccarello, creative director for Saint Laurent, and Franois-Henri Pinault, chairman and chief executive of Kering. Francesca Bellettini is an Italian businessperson who has been the head of 8 different companies and is Chairman at Yves Saint Laurent of Monaco, Chairman for Yves Saint Laurent Parfums SAS, Chairman & President of Yves Saint Laurent SAS, Chairman at Yves Saint Laurent Logistica SRL, Chairman at SL Luxury Retail SRL, Chairman at Yves Saint Laurent Spain SA, Chairman at Yves Saint Laurent Boutique France SAS and Co-Managing Director at Yves Saint Laurent Germany GmbH. You will be notified in advance of any changes in rate or terms. She later became the Operations Manager for Helmut Lang where she found out that she was just as much attracted to the create aspect of the fashion industry as the business aspect. Quick to smile at everyone, even in a smile-stingy city like Paris, she is also famously calm and loath to second-guess herself or her team. Definitely the sensitivity of people and their ability to speak out is much bigger than before, she said. Francesca Bellettini is an Italian businessperson who has been the head of 8 different companies and currently is Chairman at Yves Saint Laurent of Monaco, Chairman of Yves Saint Laurent Parfums SAS, Chairman & President of Yves Saint Laurent SAS, Chairman at Yves Saint Laurent Logistica SRL, Chairman for SL Luxury Retail SRL, Chairman at Yves Saint Laurent Spain SA, Chairman of Yves Saint . $ + tax But there is only one problem, it is half the salary. He told me, In my life I never earned the money you are going to make at Prada. offers FT membership to read for free. For me, this is a balance between creativity, merchandising and business, added Bellettini. Part of establishing Saint Laurents new image has been a focus on permanent collections. It is Bellettinis commitment to balance in this regard, as much as the brands DNA, that has pushed Saint Laurent to excel in both collections, achieving double-digit growth in a sluggish market. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. Having crossed the $1 billion in sales threshold in 2017, the brand isa star performer in parent companyKerings luxury portfolio. The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. They talk just about every day, share vacations and some weekends, but rarely appear in public together. could be sentient says Microsofts chatbot feels like watching the Shark Tank investor Kevin OLeary says a new generation of employee has never worked in an officeand its totally I cant afford to sell because I dont want to lose that rate: 3% mortgage rates will loom large over the U.S. CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. This is why we are less vocal. The name Yves Saint Laurent is iconic within the fashion realm, and the client base is loyal, but having to stay relevant and to attract the next generation of customers is why the rebranding was so drastic and became so controversial. Search instead in Creative? And you have to act as if youre already there., https://www.nytimes.com/2018/02/27/style/francesca-bellettini-yves-saint-laurent-paris.html. In 2008, she joined Bottega Veneta and became Worldwide Merchandising and Communications Director in 2010. Virtual reality and sports seem like polar opposites. While attending a recent industry function, she said a man told her she was a"disgrace" and that her campaign"would bring down the entire City [London's financial district]." Escucha 'Nice to Meet You (Acoustic Live Solo)' de Francesca Michielin en Apple Music. At a time when other Kering brands including Alexander McQueen and Gucci dabble in resale, Saint Laurent stays away from it; at a time when gaming takes fashion by storm, Saint Laurent doesnt jump on the bandwagon. But the largest companies in Silicon Valley are trying to change that, using virtual sports platforms to drive adoption and profit in this new world. Our duty is to know what's going on in the supply chain and control it in the best possible way. Getty. The ad campaign had almost run its course, and Saint Laurent did not respond to the criticism. Saint Laurent wanted to be a billion-dollar company. of Yves Saint Laurent. In a second, I said, Yes! Then I said, You know I dont speak French, right? and he said, I know that. But in one areapublic relationswomen appear to dominate. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Also, focus: In Paris, Ms. Bellettini lives in an apartment close to the 17th-century htel particulier on the Left Bank that serves as the companys creative core. Francesca Bellettini was appointed president andchief executiveof Saint Laurent in July 2013. This was a further step, she says. Saint Laurent is never too skewed vis--vis anything vis--vis a product category, vis--vis a channel because we really believe in balance. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. In an exclusive interview with, Ganni, Patagonia and Reformation join pilot to decarbonise fashion, US retailers prepare for new normal in 2023 after rocky year, Chanel names Whitney Peak as new face of Coco Mademoiselle, Victoria Beckham and Francesca Bellettini talk creativity and sustainability in Paris, The Long View by Vogue Business: Bracing for a summer without Americans, Enter your email to receive editorial updates, special offers and breaking news alerts from, Gucci stumbles as Asia-Pacific growth slows. When he bought himself a honey-colored bulldog puppy at Christmas, he bought one in black for her. As an Italian national, Bellettini grew up loving fashion and beauty, noting how her hometown, an influential street fashion hub, was inspiring. Though she declined to disclose a more ambitious goal herself, industry sources say it wants to become a 5 billion brand in time. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. Compare Standard and Premium Digital here. With the brands new direction firmly established, Bellettini is now focused on the future. There, on the driveway at the edge of the sidewalk, the cobblestones under our feet rumble as we slowly start to descend: It turns out to be a platform elevator that takes us down, Bond-villain style, to a small parking lot. Bellettini was non-hesitant to her reply: That is easy, my team. You could feel the powerful connection Bellettini shares with her team; We work a lot and we also have a lot of fun, she said noting how important this is when working endless hours together. organisation On March 10th, hundreds of excited audience members watched the zoom stage open to reveal a sneak peek of the Yves Saint Laurent headquarters in Paris; sitting in her chic pantsuit and shining a wide smile was Francesca Bellettini, CEO of YSL. What was missing from Saint Laurent in 2012 was not the business or the foundation, but the fashion authority and the clarity of the brand. The chief executive officer of Saint Laurent last year steered the brand's revenues past the barrier of one billion euros, or $1.11 billion at . 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A dust-up occurred in 2015 during Mr. Slimanes tenure, when an ad featuring the young Dutch model Kiki Willems was censured and called irresponsible by Britains advertising watchdog agency because she looked excruciatingly thin. Its part of the DNA of the brand, Bellettini told Business of Fashion (BoF) in an April 2016 interview. He gives you autonomy within a framework., Ms. Bellettini relied on her Italian identity to navigate the alien culture of Paris. She turned to her father for guidance. 2023 Fortune Media IP Limited. 2016 Saint Laurent achieves 26 per cent year-on-year growth. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. Markdowns are now limited to controlled environments meaning few private sales dedicated to selected clients and outlets, which she calls a legitimate channel with very small overlap of clientele with stores. Notable for Saint Laurent under Bellettini is its leather business. Many observers credit Slimane for Saint Laurents recent success. I knew that she had the qualities needed for the job: first, a strong personality and the ability to dedicate herself entirely to her mission without any hesitation; second, the capability to quickly understand what makes this maison so special and to endorse it and indeed, she adapted very quickly to Saint Laurent in a key moment of its history., Mr. Pinault called me to Paris one Friday afternoon, Ms. Bellettini recalled. OXFORDSHIRE, United Kingdom These days, Saint Laurent chief executive Francesca Bellettini spends more time fielding questions about her former colleague, current Celine creative director Hedi Slimane, than she would perhaps like.
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