Comments, questions or feedback? cookies Working with her is enriching, Mr. Vaccarello said. 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. or Secondly, as a brand, YSL has set a clear strategy dedicated to never making compromises and executing meticulously. We are delighted that you'd like to resume your subscription. . It hasn't come without a cost. This inspired Bellettini to, in 1999, join the Business Planning and Development division of the Prada group. Bellettini, a former investment banker, had stints at Prada group and Helmut Lang. Francesca Bellettini (born 18 April 1970) is an Italian business woman. In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. During tumultuous economic periods, purse strings are naturally tightened and non-essential purchases are forgone, including luxuries. (Bellettini has been opening an average of 20 new stores per year globally.). 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. 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. 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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. Nice to Meet You (Acoustic Live Solo) de Francesca Michielin This has raised the bar for each and every one of us. Copyright 2023 Surperformance. She turned to her father for guidance. Biography of Francesca Bellettini - The Official Board This generation doesnt appreciate being considered a target. 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. 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. 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. We use Subhadra Dravida founded Transcell Biologics, a stem cell technology company, in 2009. One question asked Bellettini what she most enjoyed about her job. The brand also completely stopped making public markdowns during the pandemic. In 2013, she became President and Chief Executive Officer of Yves Saint Laurent. Renaming a world-famous brand is never advisable. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. Email us at feedback@voguebusiness.com. 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. You need to be careful of not entering into this stress and anxiety of having to change and having to do everything new, every season, because half of the people havent even had the time to look at it and to experience it. But in spite of this natural reaction, one brand has defied the trend. This is why we invested a lot in training. He and Ms. Bellettini speak to each other in English but sometimes send text messages in Italian. Have a good Tuesday! personalising content and ads, providing social media features and to 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. 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. Alex Murdaugh Receives Life Sentence: What Happens Now? And you have to act as if youre already there., https://www.nytimes.com/2018/02/27/style/francesca-bellettini-yves-saint-laurent-paris.html. An Italian woman who had never run a company, lived in Paris or learned the unwritten codes of French society, she was considered a strange choice to become chief executive of Yves Saint Laurent, the ultimate French brand, in 2013. CEO and president of Yves Saint Laurent, Francesca Bellettini . First of all fashion, in Bellettinis words, can transform you into a dreamer. Right now, Bellettini is actively trying to learn French with the goal of becoming an Okay French speaker by the end of 2021. 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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. In 2019 she was awarded the French Knight of the Legion of Honour, the highest possible distinction for a civilian in the country. You need to take a position sometimes, and you also need to give consumers things they dont even know that they want.. So maybe it makes sense that in this new mothership, the result of three years of work, he prefers a hidden space over all else. Ms. Bellettini said that she received a stream of hate emails, including one calling her a whore. Her poise, her elegance, her drive, all with an overwhelming optimism. How Saint Laurent Became a $3 Billion Powerhouse | BoF Francesca Bellettini Net Worth (2023) | wallmine Francesca Bellettini Photos and Premium High Res Pictures - Getty Images This, Bellettini maintains, also translates to improved business from travellers a key strategy given the huge potential of travel retail. Another question asked whether it was difficult for Bellettini to take a job in Paris, for a Parisian brand, when not speaking French herself. Investing veterans Deborah Jackson and Andrea Turner Moffitt connectfemale entrepreneurs with investors in a creative way with their firm, Plum Alley Investments. Bellettini took it to that level within a three-year period. At a time when fashion is all about body positivity, Saint Laurent put thin models on the catwalk of its recent show. Yet, this also meant that they could not hire more people either. of Yves Saint Laurent. Forging Saint Laurent's Future with Francesca Bellettini It was brilliant from a marketing standpoint. A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. Bloody hell!. 29 November 2018. It helps that were open, that we tend to smile, that we have this funny accent, she said, smiling. We support credit card, debit card and PayPal payments. 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. Kering's third-quarter earnings presentation mentions a continued appeal to younger generations. 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" 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. 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. How Yves Saint Laurent's CEO Worked to Improve Corporate Culture We understand what each other wants, she said. 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. They talk just about every day, share vacations and some weekends, but rarely appear in public together. Why Barnes & Noble Is Copying Local Bookstores It Once Threatened, What Floridas Dying Oranges Tell Us About How Commodity Markets Work, Watch: Heavy Snowfall Shuts Down Parts of California, Watch: Alex Murdaugh Found Guilty in Murders of His Wife and Son. Still, she acknowledged, It is sometimes true you dont consider the circumstances in which things happen.. One of the few female CEOs leading a fashion brand, Francesca Bellettini started her career as an investment banker before switching industries. Bellettini joined YSL during a crucial time in its development. Bellettini also shared how she still does not speak French. Customer Service. Already a member? 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. Valerio Mezzanotti for The New York Times. Already, as soon as Vaccarello arrived, they had made the decision to always wait one year to mark down the current collection. Consumers realised it and since the offer was already well-developed, they could find it in stores.. Hedi Slimane Definitely the sensitivity of people and their ability to speak out is much bigger than before, she said. 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. This has been a big strength during the pandemic, when tourism stopped. While she was working as an investment banker, the fashion industry was flourishing. Bellettini stressed the importance of finding those special people along who you can trust. International Womens Day happened to coincide with the campaign. Getty. You can still enjoy your subscription until the end of your current billing period. In early 2016, Slimane shocked the fashion world by announcing his decision to leave Saint Laurent, in spite of the success and influence he enjoyed in his role. Francesca Bellettini CEO Saint Laurent Future After Hedi Slimane And she doesnt speak French. 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Sexy concepts Getty. Check if your He was required to sign a confidentiality agreement. Saint Laurent still has white space to open stores, develop in Asia and reinforce cross-selling across product categories, says Ortelli. 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. In a second, I said, Yes! Then I said, You know I dont speak French, right? and he said, I know that. Moreover, Bellettini called for everyone to be ambitious but never impatient; experiences take time to be made. 2023 The Business of Fashion. $ + tax When she arrived from another Kering brand, Bottega Veneta, in 2013, the. 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. Customer Service. Le grand appartement: Dirigido por Pascal Thomas. He gives you autonomy within a framework., Ms. Bellettini relied on her Italian identity to navigate the alien culture of Paris. , who was succeeded by Anthony Vacarello in April 2016. could be sentient says Microsofts chatbot feels like watching the Shark Tank investor Kevin OLeary says a new generation of employee has never worked in an officeand its totally I cant afford to sell because I dont want to lose that rate: 3% mortgage rates will loom large over the U.S. CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. 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. Francesca Bellettini was appointed president andchief executiveof Saint Laurent in July 2013. Around 60 per cent of Saint Laurent's clients were locals in 2020, according to Morgan Stanleys estimates. With the brands new direction firmly established, Bellettini is now focused on the future. 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. The companys enviable performance can, in large extent, be attributed to a drastic and unexpected rebranding. Francesca Bellettini (FB): Saint Laurent's retail performances in China absolutely surpassed the pre-COVID-19 situation, boosted by Chinese consumers buying locally. Miller, who was born in Guyana, says,"I believe that level of abuse means I am doing something right for investors.". She has been the chief executive officer of Yves Saint Laurent since 2013. 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. 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. Gucci became the first brand to go public, attracting business administrators to the sector. 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 . FOR those predicting another seismic shift in brand identity at Saint Laurent - following the departure of Hedi Slimane last month and the appointment of Anthony Vaccarello - you will be in for a surprise. First its for the people of the industry and then its for the people that look at the industry. Ms. Bellettini, 47, not only has propelled the brand into the exclusive billion-euro club a status unofficially codified last season when the Saint Laurent show was moved to the shadow of the Eiffel Tower but in doing so has also made herself one of the most powerful women in fashion, where there are only a handful of female chief executives. It is only then can we find long-term joy and success. By Laure Guilbault November 15, 2021 Courtesy of Saint Laurent Francesca Bellettini - Biography - MarketScreener.com Francesca Bellettini is also on the board of Technogym SpA, Yves Saint Laurent UK Ltd. and Ferrari NV. You have to know where you want to go, she said. It earned the brand criticisms. 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 Bellettini has achieved the impossible with Saint Laurent 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. 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. 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. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. For more information read our Terms & Conditions and Privacy Policy. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Bellettini is the kind of person who is goal driven and focusing on pushing forward towards that goal, said McInnes. Ready-to-wear, however, is growing faster at the moment, Bellettini notes, but she adds that the breakdown per category is not meaningful. ", The priority is to make sure the leather I use is sourced correctly. 2013 - Present, 2008 - 2013, Buying & Merchandising Director, Selfridges, Creative Director, Tom Ford & Chairman, CFDA, Former Chairman & Chief Executive, Yoox Net-a-Porter Group. 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. 2016 Saint Laurent achieves 26 per cent year-on-year growth. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Premium access for businesses and educational institutions. 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. Leather in particular is a material the brand is paying attention to, in terms of avoiding waste. 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 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. That means you risk having more leftovers. 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. 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. Why? The looks Anthony does for the shows are incredibly complete jewellery, shoes, etc. Saint Laurent wanted to be a billion-dollar company. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Some white space to reach its new target. (For example, we would never do gaming simply because its something Generation Z is into. That, to me, has been what makes her such a wonderful CEO, especially in a creative field like fashion, said McInnes. Bellettini said that rather than trying to craft a personality far from your true self in order to win the interview, authenticity is key. All Rights Reserved. When I had to replace Paul Deneve as C.E.O. The Saint Laurent head office is based on Rue de Bellechasse in Paris. "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. She sure is a powerhouse woman running a billion-dollar brand. 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 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. Francesca Le Photos and Premium High Res Pictures - Getty Images Two Days Mattered Most. Speaking of Gen Z, she says the key is to be authentic. 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. This required their team members to take on unique responsibilities, for instance, those who work at the stores as sales assistants were trained to become sales assistants over the phone. 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. Bellettini noted how, guided by YSLs commitment to its team, they managed to not fire anyone during the COVID-19 pandemic. 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. Francesca Bellettini Profiles | Facebook Creative director Hedi Slimane left to take the reins of Celine and she recruited Vaccarello to succeed him. 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. As an Italian national, Bellettini grew up loving fashion and beauty, noting how her hometown, an influential street fashion hub, was inspiring. Francesca Bellettini Receives France's Legion of Honor - WWD 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.