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This inspired Bellettini to, in 1999, join the Business Planning and Development division of the Prada group. Her father, whom she adored, was an accountant at a lumber company; her mother, a school administrator. In 1977, following the meeting with her husband Bertelli who is still her right-hand today, Miuccia quickly revolutionized the concept of Haute Couture, introducing the concept of sportiness in a world that previously looked at it as a parallel universe. In early 2016, Slimane shocked the fashion world by announcing his decision to leave Saint Laurent, in spite of the success and influence he enjoyed in his role. 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. Nevertheless, Bellettinis success was not easy to achieve. At the forefront of this strategy is balance. After an internal study of YSL, Ms. Bellettini concluded that the company either had to invest substantially and spark growth or begin dismantling operations and shrink to half its size. As she explained on Monday at the Financial Times Business of Luxury Summit in San Francisco in conversation with the paper's Fashion Editor Jo Ellison, Bellettini believes strongly in giving a. Inside out You will be notified in advance of any changes in rate or terms. Customer Service. 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. Its one thing to have a strong brand and brand messaging, but that is lost within itself if it isnt carried throughout every level of the business, McInnes explained. This has been a big strength during the pandemic, when tourism stopped. Bellettini joined YSL during a crucial time in its development. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. By Roza Kovak. He is a good cook; she is not, so he sometimes invites her over for pasta. Subhadra Dravida founded Transcell Biologics, a stem cell technology company, in 2009. Saint Laurent wanted to be a billion-dollar company. Already a member? You may cancel your subscription at anytime by calling Her poise, her elegance, her drive, all with an overwhelming optimism. You need to take a position sometimes, and you also need to give consumers things they dont even know that they want.. 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. Showing Editorial results for francesca bellettini. personalising content and ads, providing social media features and to of Yves Saint Laurent. He and Ms. Bellettini speak to each other in English but sometimes send text messages in Italian. Apple said Mr. Deneve would be. Renaming a world-famous brand is never advisable. Her obsession is paying off. Francesca Bellettini was considered an odd choice for the heritage house but shes led it into the billion-euro club. In the third quarter of 2021, Saint Laurent generated 22 per cent of its sales in Asia Pacific, versus 41 per cent for Gucci and 35 per cent for Bottega Veneta. This is to ensure the offer is reflecting the current vision of the brand. Please see our privacy policy for more information. Secondly, as a brand, YSL has set a clear strategy dedicated to never making compromises and executing meticulously. Our duty is to know what's going on in the supply chain and control it in the best possible way. Parent company Kerings 2016 results, for example, revealed the brands comparable revenue surged by an astonishing 33.9 percent across all product categories and geographic regions. After looping across the vast courtyard of the former 18th-century abbey, through the showrooms, we pass through the front gate at the rue de Bellechasse. , who was succeeded by Anthony Vacarello in April 2016. Can New Bottega Balance Hype, Heritage and Rapid Growth. Bellettini, a former investment banker, had stints at Prada group and Helmut Lang. Opinion: No Country for Alzheimers Patients, Opinion: Common Sense Points to a Lab Leak, Opinion: A Nikki Haley and Vivek Ramaswamy Victory, Opinion: Overruling the District of Columbia on Crime. Bellettini said that rather than trying to craft a personality far from your true self in order to win the interview, authenticity is key. First of all fashion, in Bellettinis words, can transform you into a dreamer. organisation 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. Slimane leaves Saint Laurent, and Anthony Vaccarello is named. Sign In. In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. In an exclusive interview with Vogue Business, CEO Francesca Bellettini shares her plans to continue growth while sticking to the brand's DNA. It wasnt her first time in the line of fire, in any case. The oldest executive at Kering SA is Baudouin Prot, 69, who is the Director. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. 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. Anyone can read what you share. Bellettini also believes that no job is a waste of time, even if we have to deal with bosses that we do not like. 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 . Life & Arts Saint Laurent CEO Francesca Bellettini on the making of a $1bn brand At the FT's Business of Luxury conference in San Francisco this week, the head of the French house with 26 per. So maybe it makes sense that in this new mothership, the result of three years of work, he prefers a hidden space over all else. Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. Saint Laurent is never too skewed vis--vis anything vis--vis a product category, vis--vis a channel because we really believe in balance. Good morning, WMPW readers! An Italian woman who had never run a company, lived in Paris or learned the unwritten codes of French society, she was considered a strange choice to become chief executive of Yves Saint Laurent, the ultimate French brand, in 2013. As an Italian national, Bellettini grew up loving fashion and beauty, noting how her hometown, an influential street fashion hub, was inspiring. ", The priority is to make sure the leather I use is sourced correctly. These days, only 19 percent of YSL sales come from ready-to-wear, 59 percent from leather goods, 14 percent from shoes and the rest from miscellaneous items like eyewear. Bellettini put a significant value on company culture. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. Kering's third-quarter earnings presentation mentions a continued appeal to younger generations. And they certainly didnt know her. 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. And she had done it all while navigating the departure of Saint Laurents star designer, Hedi Slimane, and the transition to a relatively low-key unknown, Anthony Vaccarello, a change of creative leadership that had the industry predicting disaster for the brand. 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. Simply log into Settings & Account and select "Cancel" on the right-hand side. cookies A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. 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. She doesnt use mascara or foundation. Diversification has been one key to the houses current success. When it became clear Mr. Slimane was leaving, Mr. Vaccarello was approached for a possible job with a big fashion brand but not told which one. Why? 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. 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. That mindset is reflected in what Saint Laurent does as much as what it chooses not to do. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. Why Barnes & Noble Is Copying Local Bookstores It Once Threatened, What Floridas Dying Oranges Tell Us About How Commodity Markets Work, Watch: Heavy Snowfall Shuts Down Parts of California, Watch: Alex Murdaugh Found Guilty in Murders of His Wife and Son. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. We dont do it to sell an extra bag. The biggest move to bring clarity back was changing the brand name. At the time Pinault, chairman of parent company Kering, wasopen about his wish that the house reach $1 billion dollars in sales and Bellettini played an integral role in achieving thatgoal. 29 November 2018. Join Facebook to connect with Francesca Bellettini and others you may know. They are reluctant to be targeted.. Francesca Bellettini, chief exec of fast-growing Yves Saint Laurent, says a crucial part of managing a business is balance. Bellettini has increased control over distribution, rationalised the number of wholesale doors and put in place a controlled and even more selective product distribution by signing contracts of selected distribution in Europe, converting in concessions some doors with wholesale partners. Alex Murdaughs Trial Lasted Six Weeks. Comments, questions or feedback? Standard Digital includes access to a wealth of global news, analysis and expert opinion. Ready-to-wear, however, is growing faster at the moment, Bellettini notes, but she adds that the breakdown per category is not meaningful. One of the few female CEOs leading a fashion brand, Francesca Bellettini started her career as an investment banker before switching industries. Well keep working on it because for me, the journey in sustainability is never finished. The only time that there is more women on the set as extras is a swimming pool scene and they're all in bikinisany swimming pool scene and suddenly it's full of women. Bellettini says her brand derives its revenue from a range of. 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. Valerio Mezzanotti for The New York Times. Bloody hell!. You will be charged Saint Laurent wanted to be a billion-dollar company. In the luxury group's2018 full-year results, Saint Laurent reached sales1.74 billion, a 16.1 percent increase in reported growth. 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. Consumers realised it and since the offer was already well-developed, they could find it in stores.. or Since 2012, Saint Laurent Paris, formerly known as Yves Saint Laurent, has boasted double-digit year-on-year growth. Will Others Follow? Premium access for businesses and educational institutions. 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When describing why she chose Goldman Sachs International over other companies, she said that the company felt like a family. Gucci became the first brand to go public, attracting business administrators to the sector. From 2008 to 2013, she worked at Bottega Veneta, eventually as worldwide merchandising and communications director. 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. (For example, we would never do gaming simply because its something Generation Z is into. 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. Sales have just hit the 1.5 billion mark; her ultimate goal is to double it. This, Bellettini maintains, also translates to improved business from travellers a key strategy given the huge potential of travel retail. Luckily, everyone in Bellettinis team did speak English with her. Yet, this also meant that they could not hire more people either. This is why we invested a lot in training. Enduring look Search instead in Creative? Frances advertising watchdog asked Saint Laurent to modify two ads. All rights reserved. Lauren Sherman. The ad campaign had almost run its course, and Saint Laurent did not respond to the criticism. After Prada, she jumped to Helmut Lang, to Gucci and then to Bottega Veneta, where she was communication and merchandising director, living comfortably in Lugano, near Milan. There are 12 older and 7 younger executives at Kering SA. He never frightens you, she said. It makes us simpatico. The worst thing you can do with your teams is to create a culture of fear.. 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. While she was working as an investment banker, the fashion industry was flourishing. Over the last few years, this has hit high-end brands hard. She has what she calls de-stressful activities three mornings a week: running as much as six miles along the Seine or kickboxing with a personal trainer. Francesca Bellettini is also on the board of Technogym SpA, Yves Saint Laurent UK Ltd. and Ferrari NV. Its part of the DNA of the brand, Bellettini told Business of Fashion (BoF) in an April 2016 interview. Bellettini started Bocconi University and completed her education with a year abroad at the University of Chicago where she was introduced to the world of investment banking. This business model is something Bellettini argues helps the brand to get back to its core essence as a fashion house. Moderated by Emma Rosenkranz 23, vice-president of Fashion@Brown, and Dani Siegal 24, social media coordinator, Ms. Bellettini gave an inspiring talk which spoke to her courage, integrity, and drive. The Saint Laurent head office is based on Rue de Bellechasse in Paris. 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]." All Rights Reserved. Many observers credit Slimane for Saint Laurents recent success. But she does believe in learning from mistakes. 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. She joined Kering in 2003 as Strategic Planning Director and Associate Worldwide Merchandising Director of Gucci. Getty. This massage technique is attracting fans across Hollywood, including Ariana Grande, Kourtney Kardashian and Sean Diddy Combs. The brand also completely stopped making public markdowns during the pandemic. 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. But is it bad? But she did not pull the ads. Sexy concepts Con Romy Schneider, Donald Houston, Dennis Waterman, Patricia Brake. It helps that were open, that we tend to smile, that we have this funny accent, she said, smiling. Getty. Plan A was to study Business Administration at Bocconi University and follow her dream of running a company. President and Chief Executive Officer, Yves Saint Laurent. Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand. . The ads were displayed on about 250 kiosks in France, mainly in Paris, and in fashion magazines; the open-legged ad was splashed on a large billboard along the route to Paris from Charles de Gaulle airport. 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. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. 2023 Fortune Media IP Limited. university Saint Laurent opened its first flagship in China in 2019 and the network is being expanded in the country. It was this confidence that led her to choose Mr. Vaccarello, 38, to replace Mr. Slimane, the designer who turned around the struggling Saint Laurent while changing the name of its ready-to-wear line, its store dcor, ad campaigns and every product. Definitely the sensitivity of people and their ability to speak out is much bigger than before, she said. Email us at feedback@voguebusiness.com. analyse how our Sites are used. Ms. Bellettini said that she received a stream of hate emails, including one calling her a whore. 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. Kerings largest brand missed analyst estimates, citing the gradual arrival of the new Aria collection and the decline of traffic in the stores in Asia-Pacific due to Covid restrictions this summer. Continuity candidate For cost savings, you can change your plan at any time online in the Settings & Account section. Its effective, also because the name is powerful.. We use Bellettini also shared how she still does not speak French. Bellettini joined Yves Saint Laurent from Bottega Veneta. This has raised the bar for each and every one of us. She doesnt wear hose even in the dead of winter. Belletini also serves on the executive committee of France's Fdration de la Haute Couture et de la Mode and in July 2019 was elected president of theChambre Syndicale de la Mode Fminine, the country's governing body for womenswear. However, along with creative director Anthony Vaccarello, who she recruited in 2016, Bellettini has steered Saint Laurent to new heights without deviating from the brands DNA. Compare Standard and Premium Digital here. You can unsubscribe at any time. In the past we would use it to do flooring of the warehouses. But I dont have to do something to please someone or some client.. Our Q3 performance in China was very strong, with excellent growth in-store and online. Similarly, all e-tailers moved from a wholesale model to e-concessions (except for the websites of some US department stores, where Saint Laurent is still sold wholesale). CEO and president of Yves Saint Laurent, Francesca Bellettini . He gives you autonomy within a framework., Ms. Bellettini relied on her Italian identity to navigate the alien culture of Paris. Sometimes if you look at one part, you lose the full picture, she says. It was pissing me off a little bit, she said. Bellettini took it to that level within a three-year period. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. This required their team members to take on unique responsibilities, for instance, those who work at the stores as sales assistants were trained to become sales assistants over the phone. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. Francesca Bellettini is appointed president and chief executive. A great sales force can make a difference, in terms of proposing a silhouette. She joined the famous Parisian house, replacing Paul Deneuve, at a crucial time in its development. Sign up to our newsletter for a truly global perspective on the fashion industry. Now Dravida, also the firm's chief executive, is conducting research trials to treat a number of debilitatingconditions, including rheumatoid arthritis, muscular dystrophy, and stroke. The luxury house is known for its formalwear and sharp tailoring. Eileen Fisher is trying to raise the bar for sustainable fashion. 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.