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. 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. 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. Luckily, everyone in Bellettinis team did speak English with her. The fired Google engineer who thought its A.I. Mr. Vaccarello and Ms. Bellettini have since become soul mates. We talk a lot about strategy, where we want to go. I never have the feeling that we should do something different.. Francesca Bellettini Net Worth (2023) | wallmine Markdowns are now limited to controlled environments meaning few private sales dedicated to selected clients and outlets, which she calls a legitimate channel with very small overlap of clientele with stores. 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. 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. 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. It helps that were open, that we tend to smile, that we have this funny accent, she said, smiling. 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. Impressively, the executive has maintained the house's upward trajectorydespitethe departure of its star creative director We work a lot on conversion.. Will Others Follow? At the forefront of this strategy is balance. Our duty is to know what's going on in the supply chain and control it in the best possible way. Certainly, Bellettini deserves to be recognised as one of the most influential leaders in fashion today. 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. You may cancel your subscription at anytime by calling We dont do it to sell an extra bag. 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 makes us simpatico. The worst thing you can do with your teams is to create a culture of fear.. 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. The companys enviable performance can, in large extent, be attributed to a drastic and unexpected rebranding. In his new novel, Tracy Flick Cant Win, author Tom Perrotta asks: Who is Tracy Flick now? Francesca Bellettini was appointed president andchief executiveof Saint Laurent in July 2013. 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. 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. university 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. Since 2012, Saint Laurent Paris, formerly known as Yves Saint Laurent, has boasted double-digit year-on-year growth. 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. Powered and implemented by Interactive Data Managed Solutions. 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. 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. She is resolved to stay true to the brands DNA while pushing to capture new customers and enter new markets. He asked me did I want to be C.E.O. 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. The biggest move to bring clarity back was changing the brand name. Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand This is why we are less vocal. This is made possible through a leadership style that is confident, but trusting. Thanks to the law of 1948 and to her grandmother, the nominal tenant who is always absent, Francesca Cigalone and all her tribe (thoughtless husband, orphan sister, self-centered film maker and his mistress of the day, eccentric granny, friends, friends of the friends . That mindset is reflected in what Saint Laurent does as much as what it chooses not to do. Con Romy Schneider, Donald Houston, Dennis Waterman, Patricia Brake. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. Hedi Slimane Miller, who was born in Guyana, says,"I believe that level of abuse means I am doing something right for investors.". How Anthony Vaccarello and Francesca Bellettini took Saint Laurent to In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. Francesca Bellettini | Kering Investing veterans Deborah Jackson and Andrea Turner Moffitt connectfemale entrepreneurs with investors in a creative way with their firm, Plum Alley Investments. YSL continues to grow that number. 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. But is it bad? Sales have just hit the 1.5 billion mark; her ultimate goal is to double it. 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. 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. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. of Saint Laurent, she was the first name on my list, Mr. Pinault said. She was a villain, then an icon. 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. cookies Many observers credit Slimane for Saint Laurents recent success. Francesca Bellettini (FB): Saint Laurent's retail performances in China absolutely surpassed the pre-COVID-19 situation, boosted by Chinese consumers buying locally. Having crossed the $1 billion in sales threshold in 2017, the brand isa star performer in parent companyKerings luxury portfolio. 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. 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. He was required to sign a confidentiality agreement. 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. A University of East Anglia researcher, Helen Bear, is developing technology to enable computers to read lips. 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. 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. Her husband, a businessman who has been in her life for 20 years, lives in Milan. You need to take a position sometimes, and you also need to give consumers things they dont even know that they want.. Despite this, Bellettini stated that they are stronger than ever as a brand. This has been a big strength during the pandemic, when tourism stopped. FORTUNE may receive compensation for some links to products and services on this website. Good morning, WMPW readers! Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. 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. 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. FRANCESCA BELLETTINI. 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]." Their brand offers an escape to people, which during this unparalleled time in our world, is vital. The news sent shockwaves through the industry, with many interpreting the change as a sign of disrespect to the companys founder and namesake. Londons Investment Appeal Is Unraveling as Arm Heads to the US, UN report: Modern weapons being smuggled to Haiti from US, British Parents Turn to Home Equity to Help Young Buy Property, Sorry, Fed, Most US Mortgage Rates Were Locked in During Pandemic Lows, Fed Says MoreRate Hikes Are Needed to Curb Inflation. This documentary-style series follows investigative journalists as they uncover the truth. 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. 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. 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. 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. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. 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. 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. Bellettini says: Anthony always created a very compelling and complete collection and the show in March 2020, featuring colored tailoring jackets and latex pants, gave visibility to its offer variety. Check if your Saint Laurent was the star of the Kering Groups most recent earnings publications. Premium access for businesses and educational institutions. 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. (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. Fashion has never been so competitive. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Saint Laurent still has white space to open stores, develop in Asia and reinforce cross-selling across product categories, says Ortelli. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. Alex Murdaugh Receives Life Sentence: What Happens Now? 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. Anyone can read what you share. As a subscriber, you have 10 gift articles to give each month. One question asked Bellettini what she most enjoyed about her job. We focused even more on what we could control, staying focused on the things we could do better, she explains. And they certainly didnt know her. 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. Nowadays, I see that the consumer approaches Saint Laurent from every product category depending on what they want, said Bellettini to BoF. By Laure Guilbault November 15, 2021 Courtesy of Saint Laurent 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. With the brands new direction firmly established, Bellettini is now focused on the future. 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). Francesca Bellettini Photos and Premium High Res Pictures - Getty Images If I can be honest, I dont think that today that campaign would even be shot.. 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. Francesca Bellettini (born 18 April 1970) is an Italian business woman. You have to know where you want to go, she said. We support credit card, debit card and PayPal payments. To receive the Vogue Business newsletter, sign up here. 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. 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. Yet, this also meant that they could not hire more people either. International Womens Day happened to coincide with the campaign. Saint Laurent Paris is consistent throughout, from manufacturing to customer service, with every employee at every level aware of the brand identity and carrying on their jobs with a full understanding of the story they are telling.. Bellettini took it to that level within a three-year period. PARIS Francesca Bellettini doesnt style her hair. We communicate the brand, and Anthony does it in a way thats very relevant, she says. Creative director Hedi Slimane left to take the reins of Celine and she recruited Vaccarello to succeed him. The enshittification of apps is real. Nonetheless, the brand attracts luxurys coveted younger consumers. Power Moves | Francesca Bellettini Named CEO of Yves Saint Laurent Biography of Francesca Bellettini - The Official Board And she doesnt speak French. 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" He is a good cook; she is not, so he sometimes invites her over for pasta. He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking Italian. Why? 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 . 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. 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.. The looks Anthony does for the shows are incredibly complete jewellery, shoes, etc. Non-Executive Director at Ferrari - View - Ferrari org chart. 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. Saint Laurent wanted to be a billion-dollar company. That, to me, has been what makes her such a wonderful CEO, especially in a creative field like fashion, said McInnes. 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. The company has a remarkably even worldwide geographical coverage in terms of stores and customers. Sign In. She climbed the ladder at Kering starting in 2003, when she joined as strategic planning director and associate worldwide merchandising director of Gucci. Saint Laurent CEO Francesca Bellettini's big ambitions Saint Laurent is the new rising star at Kering. Rebecca Faria, a 29-year-old Brazilian. People from her region have a disarming way of speaking that makes them sound playful even when they are dead serious. Francesca Bellettini CEO Saint Laurent Future After Hedi Slimane 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. 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. Balance is also evident in Saint Laurents approach to its clientele and distribution. Saint Laurent CEO Francesca Bellettini's big ambitions PARIS The Vogue Paris Fashion Festival gathered industry voices from heritage brands to startups; traditional retail to digital; casting agents to supermodels. But in spite of this natural reaction, one brand has defied the trend. When describing why she chose Goldman Sachs International over other companies, she said that the company felt like a family. You can unsubscribe at any time. Valerio Mezzanotti for The New York Times. 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. Bellettini says: The work that Anthony has been doing in terms of diversity of age, sex, gender, color, body type, as judged on a 360 basis, has been quite impressive, still being able to communicate the brand. 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. She was there to review a collection for the upcoming season. Bellettini is a remarkable woman. 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. (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 2013 - Present, 2008 - 2013, Buying & Merchandising Director, Selfridges, Creative Director, Tom Ford & Chairman, CFDA, Former Chairman & Chief Executive, Yoox Net-a-Porter Group. Im obsessed with two things: local customers and comp growth, says Bellettini. In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. Saint Laurent wanted to be a billion-dollar company. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. Bellettini says her brand derives its revenue from a range of. In 2019 she was awarded the FrenchKnight of the Legion of Honour, the highest possible distinction for a civilian in the country. We understand what each other wants, she said. This is why we invested a lot in training. Gucci became the first brand to go public, attracting business administrators to the sector. Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. She joined the famous Parisian house, replacing Paul Deneuve, at a crucial time in its development. 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. One of the few female CEOs leading a fashion brand, Francesca Bellettini started her career as an investment banker before switching industries. Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers. View the profiles of people named Francesca Bellettini. As an Italian national, Bellettini grew up loving fashion and beauty, noting how her hometown, an influential street fashion hub, was inspiring. For a full comparison of Standard and Premium Digital, click here. Bellettini appointed Anthony Vaccarello as creative director in 2016. Join Facebook to connect with Francesca Bellettini and others you may know. In 2013, she became President and Chief Executive Officer of Yves Saint Laurent. 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. 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. Customer Service. The ad campaign had almost run its course, and Saint Laurent did not respond to the criticism. All rights reserved. Already, as soon as Vaccarello arrived, they had made the decision to always wait one year to mark down the current collection. Cross selling requires more time. 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. With the house on track to end 2021 with sales over 2 billion, CEO Francesca Bellettini believes the brand can rise even further. Escucha 'Nice to Meet You (Acoustic Live Solo)' de Francesca Michielin en Apple Music. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. CEO and president of Yves Saint Laurent, Francesca Bellettini . Francesca Bellettini is appointed president and chief executive. 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. 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. Email us at [email protected]. Definitely the sensitivity of people and their ability to speak out is much bigger than before, she said. This generation doesnt appreciate being considered a target. 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. offers FT membership to read for free. In 2019 she was awarded the French Knight of the Legion of Honour, the highest possible distinction for a civilian in the country. The Saint Laurent head office is based on Rue de Bellechasse in Paris. Its a cascade. Renaming a world-famous brand is never advisable. In the luxury group's2018 full-year results, Saint Laurent reached sales1.74 billion, a 16.1 percent increase in reported growth. Francesca Bellettini has achieved the impossible with Saint Laurent 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. Twenty-nine years old is a little early to do a job for money. Frances advertising watchdog asked Saint Laurent to modify two ads. 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.