Francesca Bellettini was appointed president andchief executiveof Saint Laurent in July 2013. Francesca Bellettini is appointed president and chief executive. But she did not pull the ads. Enduring look It was an anecdote from the early times of her career when she attended a meeting. She is resolved to stay true to the brands DNA while pushing to capture new customers and enter new markets. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. 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. 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. Bellettini, a former investment banker, had stints at Prada group and Helmut Lang. 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. As a subscriber, you have 10 gift articles to give each month. He and Ms. Bellettini speak to each other in English but sometimes send text messages in Italian. 2023 Fortune Media IP Limited. In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. Premium access for businesses and educational institutions. 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. (Bellettini has been opening an average of 20 new stores per year globally.). The news sent shockwaves through the industry, with many interpreting the change as a sign of disrespect to the companys founder and namesake. Reach out to me, at: laura.cohn@gmail.com or @laurascohn. Le grand appartement: Dirigido por Pascal Thomas. It is only then can we find long-term joy and success. The scientific advance could aid people with recent hearing loss. This massage technique is attracting fans across Hollywood, including Ariana Grande, Kourtney Kardashian and Sean Diddy Combs. Bellettini shared a particular story about one of the biggest mistakes of her career which put her heart out for the audience; it was vulnerable and so very important. We support credit card, debit card and PayPal payments. Its part of the DNA of the brand, Bellettini told Business of Fashion (BoF) in an April 2016 interview. This was a further step, she says. She lets me be totally free. Bellettini will succeed current chief executive Paul Deneve, who after two years at the head of the luxury fashion label is leaving for a position in the technology industry in California . As her son is somehow part of her dead lover, she falls in love with him and tries to seduce him, but he has a girlfriend named Julie. 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. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. In a second, I said, Yes! Then I said, You know I dont speak French, right? and he said, I know that. 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. The biggest move to bring clarity back was changing the brand name. YSL continues to grow that number. Leather in particular is a material the brand is paying attention to, in terms of avoiding waste. $ + tax 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. Hear the latest economic, business and market news, as well as global, national, and local news. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. Bellettini was non-hesitant to her reply: That is easy, my team. You could feel the powerful connection Bellettini shares with her team; We work a lot and we also have a lot of fun, she said noting how important this is when working endless hours together. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris. Browse 110 francesca bellettini stock photos and images available, or start a new search to explore more stock photos and images. According to the fashion house's CEO, Francesca Bellettini, the Vaccarello era at the fashion house will be a . He asked me did I want to be C.E.O. 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. Despite a heavy workload and "massive" pressure, she said she feels secure in her career. 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. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Still, she acknowledged, It is sometimes true you dont consider the circumstances in which things happen.. Sales have just hit the 1.5 billion mark; her ultimate goal is to double it. We understand what each other wants, she said. Now, we have arrived at a level of quality that is so high that we can use them for trimmings of some products. President and Chief Executive Officer, Yves Saint Laurent. 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. For more information read our Terms & Conditions and Privacy Policy. 2016 Saint Laurent achieves 26 per cent year-on-year growth. We talk a lot about strategy, where we want to go. Working with her is enriching, Mr. Vaccarello said. Bellettini took it to that level within a three-year period. Her husband, a businessman who has been in her life for 20 years, lives in Milan. The fundamentals are even stronger, Bellettini says of the luxury houses current business, speaking in an exclusive Vogue Business interview at her marble-clad office in Paris. Sustainability, another pressing topic for fashion brands to consider alongside growth, is a priority, Bellettini says. The rue de Bellechasse headquarters was the idea of Francesca Bellettini, president and CEO of Yves Saint Laurent. Francesca Bellettini joined Kering in 2013. 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. Sign up to our newsletter for a truly global perspective on the fashion industry. (For example, we would never do gaming simply because its something Generation Z is into. 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. 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. They talk just about every day, share vacations and some weekends, but rarely appear in public together. This is why we are less vocal. Diversification has been one key to the houses current success. The ad campaign had almost run its course, and Saint Laurent did not respond to the criticism. However, under Francesca Bellettini's guidance, the rebadged Saint Laurent has been remarkably successful. offers FT membership to read for free. 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.) Although she may not be a fluent French speaker yet, she was awarded the French Knight of the Legion of Honour, the highest possible distinction for a civilian in the country, serves on the executive committee of France's Fdration de la Haute Couture et de la Mode, and in 2019 was elected president of the Chambre Syndicale de la Mode Fminine, the country's governing body for womenswear. He gives you autonomy within a framework., Ms. Bellettini relied on her Italian identity to navigate the alien culture of Paris. That means you risk having more leftovers. In 1999, he offered her a job as part of Pradas then-new business development division. 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. 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. When describing why she chose Goldman Sachs International over other companies, she said that the company felt like a family. The biggest move to bring clarity back was changing the brand name. 25 April 2016. Inside out I could spend all day in here, Vaccarello says. Bellettini also believes that no job is a waste of time, even if we have to deal with bosses that we do not like. (if applicable) for The Wall Street Journal. I am very proud because our sales associates feel their efforts can make a difference. 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. Over the last few years, this has hit high-end brands hard. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. Francesca was Worldwide Merchandising and Communications director at Bottega Veneta, and Strategic Planning & Associate Worldwide Merchandising Director at Gucci. Their go-to expert? It earned the brand criticisms. The brand also completely stopped making public markdowns during the pandemic. 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. Yet, this also meant that they could not hire more people either. At the forefront of this strategy is balance. In his new novel, Tracy Flick Cant Win, author Tom Perrotta asks: Who is Tracy Flick now? Alex Murdaughs Trial Lasted Six Weeks. Despite this, Bellettini stated that they are stronger than ever as a brand. California Weighs $360,000 in Reparations to Eligible Black Residents. 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 . Con Romy Schneider, Donald Houston, Dennis Waterman, Patricia Brake. Yet five years later, Kering, the Paris-based luxury group that owns Saint Laurent, Gucci and Bottega Veneta, among other brands, reported that 2017 was its most profitable year on record; YSL announced a 25.3 percent increase in revenue over 2016, the second-largest growth in the group, following Gucci. Painted black lacquer with gleaming white markers, its more appropriate for an upscale bondage club than a place to stash the companys off-duty town cars. (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) Plan A was to study Business Administration at Bocconi University and follow her dream of running a company. university Some people dont believe it, but Anthony was the only one I met for the job.. The company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. Saint Laurent is never too skewed vis--vis anything vis--vis a product category, vis--vis a channel because we really believe in balance. Powered and implemented by Interactive Data Managed Solutions. 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. To win local customers, Saint Laurent invested in sales staff training. The decision was to invest. Slimane leaves Saint Laurent, and Anthony Vaccarello is named. Saint Laurent wanted to be a billion-dollar company. Cross selling requires more time. 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. 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. Mr. Vaccarello and Ms. Bellettini have since become soul mates. Bellettini joined Yves Saint Laurent from Bottega Veneta. But when BoF founder and editor-in-chief Imran Amed asked Bellettini what she . 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. 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. With the house on track to end 2021 with sales over 2 billion, CEO Francesca Bellettini believes the brand can rise even further. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. We focused even more on what we could control, staying focused on the things we could do better, she explains. There, on the driveway at the edge of the sidewalk, the cobblestones under our feet rumble as we slowly start to descend: It turns out to be a platform elevator that takes us down, Bond-villain style, to a small parking lot. Ready-to-wear, however, is growing faster at the moment, Bellettini notes, but she adds that the breakdown per category is not meaningful. Many observers credit Slimane for Saint Laurents recent success. Well, it turned out they didnt know much. The fired Google engineer who thought its A.I. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. Because in each and every one of them, we offer a balanced collection, from entry level to higher price points, and from different occasions and views. They are reluctant to be targeted.. One featured a model in a fur jacket and fishnet tights reclining with her legs spread wide open; the other, a model in a leotard and roller-skate stilettos bending over a stool. When you are at 2 billion, to think of potential at 3 billion is too easy, she says. That, to me, has been what makes her such a wonderful CEO, especially in a creative field like fashion, said McInnes. Showing Editorial results for francesca bellettini. The looks Anthony does for the shows are incredibly complete jewellery, shoes, etc. This is why we invested a lot in training. Bellettini has achieved this global reach through a keen focus on developing local markets. 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. ", The priority is to make sure the leather I use is sourced correctly. The company has a remarkably even worldwide geographical coverage in terms of stores and customers. 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. Frances advertising watchdog asked Saint Laurent to modify two ads. Moreover, Bellettini called for everyone to be ambitious but never impatient; experiences take time to be made. 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. 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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. Apple said Mr. Deneve would be. Subhadra Dravida founded Transcell Biologics, a stem cell technology company, in 2009. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. The brands sales surged 45 per cent in the first three quarters of 2021, while parent groups Kering sales were up 36.6 per cent. She has that rare leadership quality which allows her team members to do the work they were hired to do with little or no interference. The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. Gucci became the first brand to go public, attracting business administrators to the sector. Do whatever you like. She took the job. This has raised the bar for each and every one of us. Even though some opportunities can appear to be boring or insignificant on the surface level, there is always some sort of adventure to be found in the work. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. 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. This mistake turned into an important lesson, contributing to Bellettinis success in balancing the creative and business parts of the fashion brands she worked with based on mutual trust and respect. Getty. 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. 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). It hasn't come without a cost. 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.. . One question asked Bellettini what she most enjoyed about her job. 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. Silicon Valley always seems to be abuzz about the limited number of womenin the tech industry. 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. 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]." The event ended with this final question: what is the greatest piece of advice you can share to the audience? 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. This is to ensure the offer is reflecting the current vision of the brand. Bellettini said that rather than trying to craft a personality far from your true self in order to win the interview, authenticity is key. 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. He never frightens you, she said. 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. Already, as soon as Vaccarello arrived, they had made the decision to always wait one year to mark down the current collection. 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. And she doesnt speak French. But in spite of this natural reaction, one brand has defied the trend. 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. Twenty-nine years old is a little early to do a job for money. The reality, however, has proven to be very different. 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. She is determined never to panic or bow to public pressure out of fear. Bloody hell!. It was brilliant from a marketing standpoint. We communicate the brand, and Anthony does it in a way thats very relevant, she says. Bellettini also shared how she still does not speak French. Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand. Eileen Fisher is trying to raise the bar for sustainable fashion. 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. 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 is the kind of person who is goal driven and focusing on pushing forward towards that goal, said McInnes. It was a very ironic, very playful way to present stilettos and boots, she said. Escucha 'Nice to Meet You (Acoustic Live Solo)' de Francesca Michielin en Apple Music. We see with the store reopening worldwide, we have a lot of younger customers coming, people in their 20s, buying gifts, etc., she says. 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. All rights reserved. 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. She climbed the ladder at Kering starting in 2003, when she joined as strategic planning director and associate worldwide merchandising director of Gucci. 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. (Personal luxury goods sales dropped 22 per cent at the time, according to a Bain Altagamma study.) 29 November 2018. Anyone can read what you share. In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. At present, 15 percent of Saint Laurents global customer base is in Europe, 20 percent is in China, 15 percent is in Japan, 20 percent is in the rest of Asia, and 17 percent is in the US, with the remainder spread throughout the rest of the world. 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. Bellettini joined YSL during a crucial time in its development. 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 . Non-Executive Director at Ferrari - View - Ferrari org chart. Part of establishing Saint Laurents new image has been a focus on permanent collections. This has been a big strength during the pandemic, when tourism stopped. Another question asked whether it was difficult for Bellettini to take a job in Paris, for a Parisian brand, when not speaking French herself. 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