You can unsubscribe at any time. We are delighted that you'd like to resume your subscription. This has raised the bar for each and every one of us. She lets me be totally free. Bellettini recommended her viewers to always be observant of a companys culture before applying for a job. 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. A great sales force can make a difference, in terms of proposing a silhouette. Still, she acknowledged, It is sometimes true you dont consider the circumstances in which things happen.. She studied economics and business administration at Bocconi University in Milan, spending five months at the University of Chicago as an exchange student in her senior year, which forced her to quickly improve the limited English she had learned at school. 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. 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. 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. Why is Anthonys ready-to-wear always pictured in the magazines with our bags and shoes? Enduring look 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. CEO and president of Yves Saint Laurent, Francesca Bellettini . 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.. 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. Saint Laurent is the second largest Kering house (representing 13 per cent of the group sales) behind Gucci. 2023 The Business of Fashion. All Rights Reserved. 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. It was drastic, said McInnes. We dont do it to sell an extra bag. Bellettini explained that she was not afraid: I am Italian, I can speak with my hands, I would figure it out. Bellettini, Rosenkranz, and Siegal shared a laugh at this response. In 2019 she was awarded the FrenchKnight of the Legion of Honour, the highest possible distinction for a civilian in the country. Le grand appartement: Dirigido por Pascal Thomas. Copyright 2023 Surperformance. Alex Murdaugh Receives Life Sentence: What Happens Now? Bellettini said that rather than trying to craft a personality far from your true self in order to win the interview, authenticity is key. PARIS Francesca Bellettini doesnt style her hair. Apple said Mr. Deneve would be. You will be notified in advance of any changes in rate or terms. 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. Definitely the sensitivity of people and their ability to speak out is much bigger than before, she said. I could spend all day in here, Vaccarello says. Eileen Fisher is trying to raise the bar for sustainable fashion. 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. Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers. 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. 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. Moderated by Emma . 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. He gives you autonomy within a framework., Ms. Bellettini relied on her Italian identity to navigate the alien culture of Paris. This business model is something Bellettini argues helps the brand to get back to its core essence as a fashion house. We support credit card, debit card and PayPal payments. Saint Laurent wanted to be a billion-dollar company. My Lover, My Son: Dirigido por John Newland. 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. The oldest executive at Kering SA is Baudouin Prot, 69, who is the Director. 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. 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. Slimane leaves Saint Laurent, and Anthony Vaccarello is named. The biggest move to bring clarity back was changing the brand name. 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. In 1999, he offered her a job as part of Pradas then-new business development division. 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. 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. Elon Musks Twitter is dying a slow and tedious death, Who to fire? The scientific advance could aid people with recent hearing loss. She sure is a powerhouse woman running a billion-dollar brand. (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. They talk just about every day, share vacations and some weekends, but rarely appear in public together. To win local customers, Saint Laurent invested in sales staff training. personalising content and ads, providing social media features and to It isn't easy. You may change your billing preferences at any time in the Customer Center or call Powered and implemented by Interactive Data Managed Solutions. The reality, however, has proven to be very different. Bellettini took it to that level within a three-year period. 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. Yet, this also meant that they could not hire more people either. Valerio Mezzanotti for The New York Times. In an exclusive interview with Vogue Business, CEO Francesca Bellettini shares her plans to continue growth while sticking to the brand's DNA. Victoria Beckham and Francesca Bellettini talk creativity and Diversification has been one key to the houses current 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. The 39-year-old fashion designer has always been a low-key personality, loath to toot his own horn, even though he has enjoyed double-digit sales growth at Saint Laurent since he was named creative director in April 2016. Russia's war on Ukraine latest: Putin casts war as battle for nation's survival, India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, French media billionaire Niel fails with bid for TNT television frequence - Arcom. 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. What did they know? Francesca Bellettini has achieved the impossible with Saint Laurent. Getty. The news sent shockwaves through the industry, with many interpreting the change as a sign of disrespect to the companys founder and namesake. She was there to review a collection for the upcoming season. offers FT membership to read for free. After graduating from high school, Bellettini had two plans. One Year with Print $8.95 Per month Billed annually at $107.40 Cancel anytime Indeed, the CEO of French fashion house Yves Saint Laurent, Francesca Bellettini, came to realize the storied firm. Ms. Bellettini, an executive director at Bottega Veneta, will succeed Paul Deneve, who is leaving to join Apple Inc. after just two years at the fashion label. Saint Laurent's Dedication to Cultural Cultivation Fuels Growth in 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. Plan B was to study Mechanical Engineering at Bologna University and work for Ferrari; she had a bright laugh when describing how she aspired to be on the side-lines of the track changing the racing wheels of the cars. 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. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. 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. For me, this is a balance between creativity, merchandising and business, added Bellettini. 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. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. 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. That, to me, has been what makes her such a wonderful CEO, especially in a creative field like fashion, said McInnes. Its effective, also because the name is powerful.. 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. 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. 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. Power Moves | Francesca Bellettini Named CEO of Yves Saint Laurent Francesca Bellettini is also on the board of Technogym SpA, Yves Saint Laurent UK Ltd. and Ferrari NV. 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 By Laure Guilbault November 15, 2021 Courtesy of Saint Laurent Indeed, this focus on gender parity has been a key element of the brand since the very start, with Saint Laurent himself believing men and women should wear the same clothes. Proud to Be Italian: the Most Powerful Italian Women of The Fashion It earned the brand criticisms. Moreover, Bellettini called for everyone to be ambitious but never impatient; experiences take time to be made. 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. Their brand offers an escape to people, which during this unparalleled time in our world, is vital. The luxury house is known for its formalwear and sharp tailoring. Indeed, such a drastic identity change is usually a big no for established brands, but the audacious move came as part of a shake-up intended to give the brand some much-needed clarity. The ad campaign had almost run its course, and Saint Laurent did not respond to the criticism. During tumultuous economic periods, purse strings are naturally tightened and non-essential purchases are forgone, including luxuries. Plan A was to study Business Administration at Bocconi University and follow her dream of running a company. Yves Saint Laurent Names Francesca Bellettini CEO; Hedi Slimane - WSJ 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. 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. Saint Laurent still has white space to open stores, develop in Asia and reinforce cross-selling across product categories, says Ortelli. Do whatever you like. She took the job. He was Ms. Bellettinis only candidate. 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. Leather in particular is a material the brand is paying attention to, in terms of avoiding waste. It was an anecdote from the early times of her career when she attended a meeting. 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. Francesca Bellettini a star at Saint Laurent | Financial Times 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. Can New Bottega Balance Hype, Heritage and Rapid Growth. That mindset is reflected in what Saint Laurent does as much as what it chooses not to do. or Join Facebook to connect with Francesca Bellettini and others you may know. We communicate the brand, and Anthony does it in a way thats very relevant, she says. You will be charged The enshittification of apps is real. In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. Chief Executive Officer, Yves Saint Laurent at Kering - View - Kering org chart. 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 other data for a number of reasons, such as keeping FT Sites reliable and secure, 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. 518 Likes, 6 Comments - Francesca Root-Dodson (@francescajoroot) on Instagram: "Thrilled to be part of this beautiful production of "The Sign in Sidney Brustein's Window" with my" Now, we have arrived at a level of quality that is so high that we can use them for trimmings of some products. Francesca Bellettini is appointed president and chief executive. Sign In. 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. Exclusive: Step Inside YSL's New Parisian Headquarters - WSJ 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. Two Days Mattered Most. Comedienne Amy Schumer makes the cover of Vanity Fair, Trump supporters sell 'Trump That Bitch' t-shirts depicting Hillary Clinton as the businessman candidatestruggles to attract female voters, Women will grace 5 pound and 10 pound notes in Scotland, Howa woman rose to senior product manager from customer support at Etsy, Fire departments in the U.S. turn to women volunteers, Designer Christine Kendall sues Alexander McQueen over Duchess of Cambridge's wedding dress, actress Helen Mirren, reflecting on a lack of roles for women in movies. 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. She had always loved fashion, but the job came with a 50 percent pay cut. 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. All rights reserved. Virtual reality and sports seem like polar opposites. 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. Renaming a world-famous brand is never advisable. $ + tax Some white space to reach its new target. Francesca Bellettini was appointed president andchief executiveof Saint Laurent in July 2013. 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.) Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. She worked at Prada and Helmut Lang prior to. This has been a big strength during the pandemic, when tourism stopped. Francesca Bellettini Receives France's Legion of Honor - WWD Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. 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. When asked about how the COVID-19 pandemic has impacted YSL, Bellettini mentioned on a personal level she feels her team is working around the clock, yet are lacking the energy of social interaction due to various restrictions including a 6PM curfew. Francesca Bellettini (born 18 April 1970) is an Italian business woman. Creative director Hedi Slimane left to take the reins of Celine and she recruited Vaccarello to succeed him. She joined Kering in 2003 as Strategic Planning Director and Associate Worldwide Merchandising Director of Gucci. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. To receive the Vogue Business newsletter, sign up here. Francesca Bellettini with creative director Anthony Vaccarello and Franois-Henri Pinault, chairman and chief executive of Kering "That is something that you learn in banking," she adds.. We talk a lot about strategy, where we want to go. Her obsession is paying off. Francesca Root-Dodson on Instagram: "Thrilled to be part of this For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. The decision was to invest. Already a member? Comments, questions or feedback? In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. 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. But she does believe in learning from mistakes. 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. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. At the forefront of this strategy is balance. Hear the latest economic, business and market news, as well as global, national, and local news. Its a cascade. Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. Francesca Bellettini, Yves St Laurent SA: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Power Players:Chris Robshaw Bloomberg Radio Bloomberg Daybreak Asia. 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. 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. You may change or cancel your subscription or trial at any time online. Gucci became the first brand to go public, attracting business administrators to the sector. Compare Standard and Premium Digital here. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise.