(In the third quarter, sales were up 28.1 per cent, while Kering sales were up 12.2 per cent) In 2020, when the pandemic hit, sales were down 13.8 percent while Kering sales were down 16.4 percent. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europes Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Francesca Bellettini was appointed president andchief executiveof Saint Laurent in July 2013. Saint Laurent CEO Francesca Bellettini Reveals the Brand's Secrets to Nonetheless, the brand attracts luxurys coveted younger consumers. Silicon Valley always seems to be abuzz about the limited number of womenin the tech industry. Today, the collections may not be identical, but the fact equal importance is placed on menswear and womenswear is something quite uncommon in the world of high fashion. Yet, this also meant that they could not hire more people either. Bellettini holds a degree from Bocconi University in Milan and began her career as an investment banker in London, working for Goldman Sachs, Compass Partners and others. Gucci became the first brand to go public, attracting business administrators to the sector. Francesca Bellettini Photos and Premium High Res Pictures - Getty Images But she did not pull the ads. When you are at 2 billion, to think of potential at 3 billion is too easy, she says. You may cancel your subscription at anytime by calling 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 has overseen a radical rebranding, overhauling the company from within Image: Nico. 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. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. We understand what each other wants, she said. Not long after the name change, the company continued its transformation by appointing Bellettini as its new CEO, replacing Paul Deneuve, who changed industries to work under Apple CEO Tim Cook. Though she declined to disclose a more ambitious goal herself, industry sources say it wants to become a 5 billion brand in time. 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. It earned the brand criticisms. Saint Laurent CEO Francesca Bellettini on the making of a $1bn brand He is a good cook; she is not, so he sometimes invites her over for pasta. Leather in particular is a material the brand is paying attention to, in terms of avoiding waste. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. 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. Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. Reach out to me, at: laura.cohn@gmail.com or @laurascohn. Eileen Fisher is trying to raise the bar for sustainable fashion. Valerio Mezzanotti for The New York Times. Our Q3 performance in China was very strong, with excellent growth in-store and online. The chef worked in kitchens for over 20 years before buying The French Laundryand has a secret hack for ordering In-N-Out fries. 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. Showing Editorial results for francesca le. This generation doesnt appreciate being considered a target. Moderated by Emma . Balance is also evident in Saint Laurents approach to its clientele and distribution. Saint Laurent's Dedication to Cultural Cultivation Fuels Growth in According to the fashion house's CEO, Francesca Bellettini, the Vaccarello era at the fashion house will be a . of Yves Saint Laurent. She established a company culture that fosters creativity, authenticity and agility, driving the consistent dynamism of the House and ensuring an outstanding and sustained growth trajectory, built on solid foundations. Compare Standard and Premium Digital here. 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. Francesca Bellettini, Yves St Laurent SA: Profile and Biography Francesca Bellettini joined Kering in 2013. Exclusive: Step Inside YSL's New Parisian Headquarters - WSJ Powered and implemented by Interactive Data Managed Solutions. He was Ms. Bellettinis only candidate. Francesca Bellettini Net Worth (2023) | wallmine But is it bad? Francesca Bellettini, chief exec of fast-growing Yves Saint Laurent, says a crucial part of managing a business is balance. We use Francesca Bellettini, chief exec of fast-growing Yves Saint Laurent, Gina Miller, co-founder of investment boutique SCM Private, has campaigned against sneaky chargesin the asset management market. Francesca Bellettini is appointed president and chief executive. Rosenkranz asked about hurdles and bumps faced along the way, and Bellettini shared how her biggest mistake was allowing fear to get in her way. 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. The brand also completely stopped making public markdowns during the pandemic. It isn't easy. The rebranding brought with it a more refined, heightened sense of elegance and luxury, reaffirming Saint Laurent as one of the worlds preeminent luxury fashion brands.. That, to me, has been what makes her such a wonderful CEO, especially in a creative field like fashion, said McInnes. The scientific advance could aid people with recent hearing loss. Francesca Le Photos and Premium High Res Pictures - Getty Images In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. 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. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. Although the virtual platform did not allow us to see the audience members, you could tell by Rosenkranz and Siegals faces that they were thoroughly moved by Bellettinis words. ", The priority is to make sure the leather I use is sourced correctly. Still, she acknowledged, It is sometimes true you dont consider the circumstances in which things happen.. Creative director Hedi Slimane left to take the reins of Celine and she recruited Vaccarello to succeed him. 2016 Saint Laurent achieves 26 per cent year-on-year growth. He and Ms. Bellettini speak to each other in English but sometimes send text messages in Italian. 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. 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. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. The company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks. Rebecca Faria, a 29-year-old Brazilian. 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. Simply log into Settings & Account and select "Cancel" on the right-hand side. Bellettini also believes that no job is a waste of time, even if we have to deal with bosses that we do not like. Simmenauer adds that the brands handbags in particular are timeless and well priced. In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. 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. Nevertheless, Bellettinis success was not easy to achieve. 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. Can New Bottega Balance Hype, Heritage and Rapid Growth. We see with the store reopening worldwide, we have a lot of younger customers coming, people in their 20s, buying gifts, etc., she says. 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]." Bellettini said that rather than trying to craft a personality far from your true self in order to win the interview, authenticity is key. Bellettinis laser focus and operational skills helped Saint Laurent thrive during the pandemic period that could have even should have left it vulnerable, as the world shifted to staying home and wearing sweats. It helps that were open, that we tend to smile, that we have this funny accent, she said, smiling. One of the few female CEOs leading a fashion brand, Francesca Bellettini started her career as an investment banker before switching industries. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Even before Mr. Slimane decided not to renew his contract after slightly less than four years at the house, Ms. Bellettini had noticed an interesting trend in fashion magazines and shops like Colette in Paris and Bergdorfs in New York: Mr. Vaccarellos ready-to-wear was being matched up with Saint Laurents accessories. Despite a heavy workload and "massive" pressure, she said she feels secure in her career. 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). Francesca Bellettini is 50, she's been the President and Chief Executive Officer of Yves Saint Laurent and Member of the Executive Committee of Kering SA since 2015. Thats when Mr. Pinault noticed her. When he bought himself a honey-colored bulldog puppy at Christmas, he bought one in black for her. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. By Laure Guilbault November 15, 2021 Courtesy of Saint Laurent Smaller categories such as silk, jewellery and eyewear are also booming, contributing to growth. And they certainly didnt know her. Good morning, WMPW readers! A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. Plan A was to study Business Administration at Bocconi University and follow her dream of running a company. The enshittification of apps is real. 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. The ad campaign had almost run its course, and Saint Laurent did not respond to the criticism. 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. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris.CreditMarco Cella for The New York Times. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. Francesca Bellettini is also on the board of Technogym SpA, Yves Saint Laurent UK Ltd. and Ferrari NV. She sure is a powerhouse woman running a billion-dollar brand. Sign In. Francesca Bellettini - Simple English Wikipedia, the free encyclopedia We would do it only if its coherent with the aesthetic of the brand, if it makes sense with the vision of Anthony, notes Bellettini.) I didnt know Anthony personally, but I thought, He is the only one who can come here and do Saint Laurent, in the way Anthony sees women, she said. When she saw an article of clothing she really liked, she could not hold herself from saying I really liked that, without thinking about what her comments impact could be. The reality, however, has proven to be very different. Standard Digital includes access to a wealth of global news, analysis and expert opinion. She climbed the ladder at Kering starting in 2003, when she joined as strategic planning director and associate worldwide merchandising director of Gucci. 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. She lets me be totally free. I could spend all day in here, Vaccarello says. The actor and comedian also discusses her new childrens book and writing a diary in the sauna, Tracy Flick Is Back: Older, Wiser, Still in High School, Chef Thomas Keller on Finding Professional Success After 40, Hailey Biebers Lymphatic Massage Provider Has a 2,300-Person Waitlist, Tiffany Haddish Reveals Her Secret Calendar Productivity Hack, The Tax Play That Saves Some Couples Big Bucks, How Gas From Texas Becomes Cooking Fuel in France, Amazon Pausing Construction of Washington, D.C.-Area Second Headquarters, Rep. Alexandria Ocasio-Cortez Under Scrutiny for Met Gala Participation. I am very proud because our sales associates feel their efforts can make a difference. 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. Nowadays, I see that the consumer approaches Saint Laurent from every product category depending on what they want, said Bellettini to BoF. 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. But in spite of this natural reaction, one brand has defied the trend. This has been a big strength during the pandemic, when tourism stopped. This has raised the bar for each and every one of us. Part of establishing Saint Laurents new image has been a focus on permanent collections. Bellettini became the Strategic Planning Director and Associate Worldwide Merchandising Director of Gucci in 2003, the Worldwide Merchandising and Communications Director of Bottega Veneta in 2010, and the President and Chief Executive Officer of Yves Saint Laurent in 2013. Although Bellettini shared that she did not always know she wanted to work in the fashion industry, she was certain her dream was to run a company. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Terms & Conditions. Bellettini joined Yves Saint Laurent from Bottega Veneta. 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. Francesca Bellettini | Kering 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. 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. 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. Why? Previously, she worked in Compass Partners International, UK from 1998 to 1999, in Deutsche Morgan Grenfell, UK from 1996 to 1998 and in Goldman Sachs . Yves Saint Laurent Names Francesca Bellettini CEO; Hedi Slimane - WSJ organisation The Italian executive, who took over the Kering -owned brand in 2013 and has since overseen a tripling of its sales, was joined by family, colleagues and members of the Saint Laurent galaxy at the. In the summer of 2013, Slimane announced his bold decision to rename a fashion house that had been a fixture of the luxury scene for over half a century. $ + tax Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. It was drastic, said McInnes. Many observers credit Slimane for Saint Laurents recent success. It was a very ironic, very playful way to present stilettos and boots, she said. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand But she does believe in learning from mistakes. Bellettini noted how, guided by YSLs commitment to its team, they managed to not fire anyone during the COVID-19 pandemic. Im obsessed with two things: local customers and comp growth, says Bellettini. Join Facebook to connect with Francesca Bellettini and others you may know. Bellettini put a significant value on company culture. 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. Renaming a world-famous brand is never advisable. 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. university After graduation, she moved to New York for a training program with Goldman Sachs, then to London to work with its Italian mergers and acquisitions team. It became modern and sleek, with an homage to the brands history, while elevating it from the image Yves Saint Laurent called to mind at the time it made everyone have an opinion. Francesca Root-Dodson on Instagram: "Thrilled to be part of this She doesnt use mascara or foundation. What was truly striking, however, was when Bellettini explained her out-look on life: if Plan A fails, Plan B will never be a watered-down version; instead, both paths will take her down something remarkable and exciting. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. In an exclusive interview with Vogue Business, CEO Francesca Bellettini shares her plans to continue growth while sticking to the brand's DNA. 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. To win local customers, Saint Laurent invested in sales staff training. Our duty is to know what's going on in the supply chain and control it in the best possible way. After graduating from high school, Bellettini had two plans. When I had to replace Paul Deneve as C.E.O. Notable for Saint Laurent under Bellettini is its leather business. Ending with a hopefulness to participate the next time Brown University Fashion Week takes place in person, Bellettini left us in awe. We focused even more on what we could control, staying focused on the things we could do better, she explains. Francesca Bellettini - Biography - MarketScreener.com Some white space to reach its new target. You can unsubscribe at any time. 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. 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. You need to take a position sometimes, and you also need to give consumers things they dont even know that they want.. He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking. Fashion has never been so competitive. Getty. Non-Executive Director at Ferrari - View - Ferrari org chart. For me, this is a balance between creativity, merchandising and business, added Bellettini. 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. This is why we invested a lot in training. The biggest move to bring clarity back was changing the brand name. Speakers like Victoria Beckham, Saint Laurent chief executive Francesca Bellettini, Balenciaga CEO Cdric Charbit and model Bella Hadid engaged with a variety of issues: technological disruption, developing sustainable practices and . PARIS Francesca Bellettini doesnt style her hair. FRANCESCA BELLETTINI. Bellettini took it to that level within a three-year period. "I most often work in places that are torn by war, natural disasters or epidemic, but I'm incredibly at peace amid the chaos," she said. For more information read our Terms & Conditions and Privacy Policy. Indeed, Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers, particularly given around 70 percent of customers each year are new. He never frightens you, she said. She has been the chief executive officer of Yves Saint Laurent since 2013. Bellettini is a remarkable woman. Elon Musks Twitter is dying a slow and tedious death, Who to fire? Chief Executive Officer, Yves Saint Laurent at Kering - View - Kering org chart. Rosenkranz and Siegal moved on to the audience Q&A section of the talk, where they noted that Fashion@Brown had received pages and pages and pages of submitted questions. We communicate in a context thats not related to marketing, such as conferences and internal communication. She says that being a Kering brand is a benefit in terms of sustainability compliances. Have a good Tuesday! How Saint Laurent Became a $3 Billion Powerhouse. 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. Londons Investment Appeal Is Unraveling as Arm Heads to the US, UN report: Modern weapons being smuggled to Haiti from US, British Parents Turn to Home Equity to Help Young Buy Property, Sorry, Fed, Most US Mortgage Rates Were Locked in During Pandemic Lows, Fed Says MoreRate Hikes Are Needed to Curb Inflation. She joined the famous Parisian house, replacing Paul Deneuve, at a crucial time in its development. Do whatever you like. She took the job. PARIS Francesca Bellettini is riding high.. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. However, Bellettini also expressed that delving into the fashion industry was not an easy decision; it would cut her salary in half compared to her work as an investment banker. 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. The Saint Laurent head office is based on Rue de Bellechasse in Paris. Whilst at the Italian leather goods and ready-to-wear brand, also owned by Kering, Bellettini oversaw merchandising, visual display and communications and was instrumental in the brands repositioning and popularity in emerging markets. First of all fashion, in Bellettinis words, can transform you into a dreamer. Francesca Bellettini CEO Saint Laurent Future After Hedi Slimane Moreover, Bellettini called for everyone to be ambitious but never impatient; experiences take time to be made. People from her region have a disarming way of speaking that makes them sound playful even when they are dead serious. Impressively, the executive has maintained the house's upward trajectorydespitethe departure of its star creative director Francesca Bellettini has achieved the impossible with Saint Laurent 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. Hear the latest economic, business and market news, as well as global, national, and local news. Its part of the DNA of the brand, Bellettini told Business of Fashion (BoF) in an April 2016 interview. Con Laetitia Casta, Mathieu Amalric, Pierre Arditi, Nomie Lvovsky. (Bellettini has been opening an average of 20 new stores per year globally.). Investing veterans Deborah Jackson and Andrea Turner Moffitt connectfemale entrepreneurs with investors in a creative way with their firm, Plum Alley Investments. As a subscriber, you have 10 gift articles to give each month. Two Days Mattered Most. Bellettini joined YSL during a crucial time in its development. The luxury house is known for its formalwear and sharp tailoring. 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. From 2008 to 2013, she worked at Bottega Veneta, eventually as worldwide merchandising and communications director. cookies 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. The oldest executive at Kering SA is Baudouin Prot, 69, who is the Director. Bellettini also shared how she still does not speak French. 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. Her extensive managerial experience in the fashion industry precedes her time at Bottega Veneta;she previously was a merchandising director at Gucci, operations manager at Helmut Lang, and has also held various positions at Prada. In 1999, he offered her a job as part of Pradas then-new business development division. Will Others Follow? Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. She joined Kering in 2003 as Strategic Planning Director and Associate Worldwide Merchandising Director of Gucci. 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. Its effective, also because the name is powerful.. 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