Kerings largest brand missed analyst estimates, citing the gradual arrival of the new Aria collection and the decline of traffic in the stores in Asia-Pacific due to Covid restrictions this summer. But she did not pull the ads. Non-Executive Director at Ferrari - View - Ferrari org chart. Right now, Bellettini is actively trying to learn French with the goal of becoming an Okay French speaker by the end of 2021. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. cookies Bellettini is a remarkable woman. 2013 - Present, 2008 - 2013, Buying & Merchandising Director, Selfridges, Creative Director, Tom Ford & Chairman, CFDA, Former Chairman & Chief Executive, Yoox Net-a-Porter Group. We talk a lot about strategy, where we want to go. 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. It is only then can we find long-term joy and success. 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. 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. 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. Fashion has never been so competitive. This was a further step, she says. This is why we invested a lot in training. We communicate the brand, and Anthony does it in a way thats very relevant, she says. 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 . Got some news on an exceptional woman? Its not a problem. , Mr. Pinault set a broad strategic vision and gave her flexibility and freedom in reaching the goals. Bellettini put a significant value on company culture. 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. She doesnt use mascara or foundation. Facebook gives people. The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. My Lover, My Son: Dirigido por John Newland. The rue de Bellechasse headquarters was the idea of Francesca Bellettini, president and CEO of Yves Saint Laurent. View the profiles of people named Francesca Bellettini. Well, it turned out they didnt know much. She has been the chief executive officer of Yves Saint Laurent since 2013. Bellettini is the kind of person who is goal driven and focusing on pushing forward towards that goal, said McInnes. 2023 Fortune Media IP Limited. Escucha 'Nice to Meet You (Acoustic Live Solo)' de Francesca Michielin en Apple Music. Customer Service. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. She wished for the brand to reach 1 billion dollars in sales -- and well, Bellettini crossed that goal by reaching 2 billion dollars in sales in 2017. She joined Kering in 2003 as Strategic Planning Director and Associate Worldwide Merchandising Director of Gucci. Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. YSL continues to grow that number. 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. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. Its effective, also because the name is powerful.. In his new novel, Tracy Flick Cant Win, author Tom Perrotta asks: Who is Tracy Flick now? 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. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. All Rights Reserved. She was a villain, then an icon. 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. Frances advertising watchdog asked Saint Laurent to modify two ads. 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. 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. A great sales force can make a difference, in terms of proposing a silhouette. Mr. Vaccarello and Ms. Bellettini have since become soul mates. In the past we would use it to do flooring of the warehouses. It was an anecdote from the early times of her career when she attended a meeting. Do whatever you like. She took the job. Flexibility has been another. 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. Luckily, everyone in Bellettinis team did speak English with her. 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. There are 12 older and 7 younger executives at Kering SA. According to the fashion house's CEO, Francesca Bellettini, the Vaccarello era at the fashion house will be a . Eileen Fisher is trying to raise the bar for sustainable fashion. This, Bellettini maintains, also translates to improved business from travellers a key strategy given the huge potential of travel retail. 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. The company has a remarkably even worldwide geographical coverage in terms of stores and customers. Definitely the sensitivity of people and their ability to speak out is much bigger than before, she said. Already a member? 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. 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. To win local customers, Saint Laurent invested in sales staff training. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. Bellettini encouraged everyone to always be curious. The event ended with this final question: what is the greatest piece of advice you can share to the audience? 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. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. Subhadra Dravida founded Transcell Biologics, a stem cell technology company, in 2009. 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. 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. 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. 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. Con Romy Schneider, Donald Houston, Dennis Waterman, Patricia Brake. 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.. When it became clear Mr. Slimane was leaving, Mr. Vaccarello was approached for a possible job with a big fashion brand but not told which one. 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. The looks Anthony does for the shows are incredibly complete jewellery, shoes, etc. She took it to that level within a three-year period.. Renaming a world-famous brand is never advisable. Saint Laurent is the second largest Kering house (representing 13 per cent of the group sales) behind Gucci. 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 fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. "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. Despite this, Bellettini stated that they are stronger than ever as a brand. Bellettini recommended her viewers to always be observant of a companys culture before applying for a job. You may change your billing preferences at any time in the Customer Center or call Since 2012, Saint Laurent Paris, formerly known as Yves Saint Laurent, has boasted double-digit year-on-year growth. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. 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. In the luxury group's2018 full-year results, Saint Laurent reached sales1.74 billion, a 16.1 percent increase in reported growth. 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. 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. 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. As an Italian national, Bellettini grew up loving fashion and beauty, noting how her hometown, an influential street fashion hub, was inspiring. What did they know? 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. Over the last few years, this has hit high-end brands hard. Browse 110 francesca bellettini stock photos and images available, or start a new search to explore more stock photos and images. 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. You will be notified in advance of any changes in rate or terms. 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. In an exclusive interview with Vogue Business, CEO Francesca Bellettini shares her plans to continue growth while sticking to the brand's DNA. 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. Nonetheless, the brand attracts luxurys coveted younger consumers. He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking. personalising content and ads, providing social media features and to PARIS Francesca Bellettini doesnt style her hair. 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. We support credit card, debit card and PayPal payments. 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. When I met him, I was incredibly impressed that he was not at all afraid of the challenge. We understand what each other wants, she said. At the forefront of this strategy is balance. 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. As a subscriber, you have 10 gift articles to give each month. It wasnt her first time in the line of fire, in any case. The enshittification of apps is real. Many observers credit Slimane for Saint Laurents recent success. Copyright 2023 Surperformance. She doesnt wear hose even in the dead of winter. 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. 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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. Two Days Mattered Most. (if applicable) for The Wall Street Journal. The biggest move to bring clarity back was changing the brand name. They talk just about every day, share vacations and some weekends, but rarely appear in public together. Bellettini stressed the importance of finding those special people along who you can trust. 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. 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. All rights reserved. Bellettini joined YSL during a crucial time in its development. Offers may be subject to change without notice. However, along with creative director Anthony Vaccarello, who she recruited in 2016, Bellettini has steered Saint Laurent to new heights without deviating from the brands DNA. For a full comparison of Standard and Premium Digital, click here. (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) 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. This inspired Bellettini to, in 1999, join the Business Planning and Development division of the Prada group. Comments, questions or feedback? Leather goods represents the lions share of Saint Laurents sales (71 per cent of the business in 2020), which puts it in the league of brands with the highest percentage. Her poise, her elegance, her drive, all with an overwhelming optimism. Lauren Sherman. Twenty-nine years old is a little early to do a job for money. All rights reserved. 2016 Saint Laurent achieves 26 per cent year-on-year growth. Bellettini decided that experience in finance would bolster her chances of pursuing her dream of running a company -- and so, she dove into a very new universe of Goldmach Sachs International. In 1999, he offered her a job as part of Pradas then-new business development division. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Bellettini, a former investment banker, had stints at Prada group and Helmut Lang. That mindset is reflected in what Saint Laurent does as much as what it chooses not to do. 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. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Smaller categories such as silk, jewellery and eyewear are also booming, contributing to growth. Saint Laurent wanted to be a billion-dollar company. Showing Editorial results for francesca le. 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. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. We are the only French couture house to be relevant in both menswear and womenswear. 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. We are delighted that you'd like to resume your subscription. 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. 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. 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. 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. 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. It makes us simpatico. The worst thing you can do with your teams is to create a culture of fear.. When he bought himself a honey-colored bulldog puppy at Christmas, he bought one in black for her. 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. 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. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. 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. During tumultuous economic periods, purse strings are naturally tightened and non-essential purchases are forgone, including luxuries. The decision was to invest. Secondly, as a brand, YSL has set a clear strategy dedicated to never making compromises and executing meticulously. 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. 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. 25 April 2016. Can New Bottega Balance Hype, Heritage and Rapid Growth. She worked at Prada and Helmut Lang prior to. 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. Francesca Bellettini, chief exec of fast-growing Yves Saint Laurent, says a crucial part of managing a business is balance. 2023 The Business of Fashion. analyse how our Sites are used. 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. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. Getty. 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It helps that were open, that we tend to smile, that we have this funny accent, she said, smiling. Saint Laurent wanted to be a billion-dollar company. Well keep working on it because for me, the journey in sustainability is never finished. Francesca was Worldwide Merchandising and Communications director at Bottega Veneta, and Strategic Planning & Associate Worldwide Merchandising Director at Gucci. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico.