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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 . Its not a problem. , Mr. Pinault set a broad strategic vision and gave her flexibility and freedom in reaching the goals. Smaller categories such as silk, jewellery and eyewear are also booming, contributing to growth. 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. With the house on track to end 2021 with sales over 2 billion, CEO Francesca Bellettini believes the brand can rise even further. Another question asked whether it was difficult for Bellettini to take a job in Paris, for a Parisian brand, when not speaking French herself. Flexibility has been another. In 2019 she was awarded the FrenchKnight of the Legion of Honour, the highest possible distinction for a civilian in the country. Creative director Hedi Slimane left to take the reins of Celine and she recruited Vaccarello to succeed him. Elon Musks Twitter is dying a slow and tedious death, Who to fire? The creative director responded to Bellettini with, So you did not like the rest? Bellettini drew attention to how important it is to respect designers and understand the pressure they have on their shoulders. He was Ms. Bellettinis only candidate. 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. Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. 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. Well keep working on it because for me, the journey in sustainability is never finished. One question asked Bellettini what she most enjoyed about her job. Gucci became the first brand to go public, attracting business administrators to the sector. Powered and implemented by Interactive Data Managed Solutions. Moreover, Bellettini called for everyone to be ambitious but never impatient; experiences take time to be made. Hear the latest economic, business and market news, as well as global, national, and local news. 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. You may cancel your subscription at anytime by calling Join Facebook to connect with Francesca Bellettini and others you may know. First its for the people of the industry and then its for the people that look at the industry. 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. It hasn't come without a cost. Investing veterans Deborah Jackson and Andrea Turner Moffitt connectfemale entrepreneurs with investors in a creative way with their firm, Plum Alley Investments. Reach out to me, at: laura.cohn@gmail.com or @laurascohn. 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. Despite this, Bellettini stated that they are stronger than ever as a brand. Sales have just hit the 1.5 billion mark; her ultimate goal is to double it. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. of Yves Saint Laurent. The brand also completely stopped making public markdowns during the pandemic. Sign up to our newsletter for a truly global perspective on the fashion industry. 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. 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. He never frightens you, she said. Sustainability, another pressing topic for fashion brands to consider alongside growth, is a priority, Bellettini says. To receive the Vogue Business newsletter, sign up here. 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. Francesca Bellettini joined Kering in 2013. 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. Saint Laurent is the second largest Kering house (representing 13 per cent of the group sales) behind Gucci. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. This is to ensure the offer is reflecting the current vision of the brand. 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. We dont do it to sell an extra bag. Bellettini joined Yves Saint Laurent from Bottega Veneta. 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. We talk a lot about strategy, where we want to go. "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. Francesca Bellettini has achieved the impossible with Saint Laurent. Anthony Vaccarello has nearly finished giving a tour of the just-opened 140,000-square-foot headquarters of fashion house Yves Saint Laurent in a tony corner of Pariss seventh arrondissement when, heading toward the exit, he says hes saved his favorite part for last. Still, she acknowledged, It is sometimes true you dont consider the circumstances in which things happen.. Daniel Lee's surprise exit from Bottega Veneta, The Long View by Vogue Business: The fashion CEOs take on resale, LVMH fashion sales climb despite concerns in China, Saint Laurent is the new rising star at Kering. Bellettini also believes that no job is a waste of time, even if we have to deal with bosses that we do not like. 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 company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. We use When you are at 2 billion, to think of potential at 3 billion is too easy, she says. 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. Saint Laurent opened its first flagship in China in 2019 and the network is being expanded in the country. At the forefront of this strategy is balance. All rights reserved. For cost savings, you can change your plan at any time online in the Settings & Account section. He and Ms. Bellettini speak to each other in English but sometimes send text messages in Italian. 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. She joined the famous Parisian house, replacing Paul Deneuve, at a crucial time in its development. 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. This generation doesnt appreciate being considered a target. Our duty is to know what's going on in the supply chain and control it in the best possible way. Right now, Bellettini is actively trying to learn French with the goal of becoming an Okay French speaker by the end of 2021. 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. Im obsessed with two things: local customers and comp growth, says Bellettini. 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 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. Bellettini also shared how she still does not speak French. 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. In 2019 she was awarded the French Knight of the Legion of Honour, the highest possible distinction for a civilian in the country. (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. Bellettini has achieved this global reach through a keen focus on developing local markets. Saint Laurent CEO Francesca Bellettini's big ambitions Saint Laurent is the new rising star at Kering. And they certainly didnt know her. Our Q3 performance in China was very strong, with excellent growth in-store and online. 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. This has raised the bar for each and every one of us. How Saint Laurent Became a $3 Billion Powerhouse. During the later stages of the conversation, when asked about the secrets of her success, she elaborated on how the relationship between the creative and business parts of a fashion brand is the single most important factor. 2023 The Business of Fashion. Getty. Inside out Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. It was a very ironic, very playful way to present stilettos and boots, she said. By Roza Kovak. They talk just about every day, share vacations and some weekends, but rarely appear in public together. 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. He asked me did I want to be C.E.O. 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PARIS Francesca Bellettini is riding high.. He is a good cook; she is not, so he sometimes invites her over for pasta. When I had to replace Paul Deneve as C.E.O. International Womens Day happened to coincide with the campaign. 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. It was drastic, said McInnes. A great sales force can make a difference, in terms of proposing a silhouette. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. 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. 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 . Continuity candidate I said, I met Mr. Bertelli and he offered me the job of my life, and I can leave banking, she recalled. Their brand offers an escape to people, which during this unparalleled time in our world, is vital. 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. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. However, under Francesca Bellettini's guidance, the rebadged Saint Laurent has been remarkably successful. 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. Despite a heavy workload and "massive" pressure, she said she feels secure in her career. When I met him, I was incredibly impressed that he was not at all afraid of the challenge. She turned to her father for guidance. 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. Consumers realised it and since the offer was already well-developed, they could find it in stores.. 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. Hedi Slimane He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking. The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. Bellettini says her brand derives its revenue from a range of. The company has a remarkably even worldwide geographical coverage in terms of stores and customers. She climbed the ladder at Kering starting in 2003, when she joined as strategic planning director and associate worldwide merchandising director of Gucci. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. Customer Service. 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. 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. 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. 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. Leather in particular is a material the brand is paying attention to, in terms of avoiding waste. 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. In 1999, he offered her a job as part of Pradas then-new business development division. The looks Anthony does for the shows are incredibly complete jewellery, shoes, etc. As a subscriber, you have 10 gift articles to give each month. Valerio Mezzanotti for The New York Times. The reality, however, has proven to be very different. We are the only French couture house to be relevant in both menswear and womenswear. 2023 Fortune Media IP Limited. 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. 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. Mr. Vaccarello and Ms. Bellettini have since become soul mates. The rue de Bellechasse headquarters was the idea of Francesca Bellettini, president and CEO of Yves Saint Laurent. 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. 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. 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. Luckily, everyone in Bellettinis team did speak English with her. She joined Kering in 2003 as Strategic Planning Director and Associate Worldwide Merchandising Director of Gucci. (if applicable) for The Wall Street Journal. Fashion has never been so competitive. Have a good Tuesday! Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. But in spite of this natural reaction, one brand has defied the trend. When the number of Chinese tourists coming to Paris plummeted in the aftermath of terrorist attacks in January and November of 2015, Saint Laurent refocused its Paris stores on attracting France-based clients and ramped up the business in China.

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