PARIS, France Kering, parent company of Parisian fashion brand Yves Saint Laurent, has announced that Francesca Bellettini will take the reins as the brand's new chief executive, effective September 1st. That, to me, has been what makes her such a wonderful CEO, especially in a creative field like fashion, said McInnes. She is determined never to panic or bow to public pressure out of fear. She doesnt wear hose even in the dead of winter. 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. Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand. The rue de Bellechasse headquarters was the idea of Francesca Bellettini, president and CEO of Yves Saint Laurent. This, Bellettini maintains, also translates to improved business from travellers a key strategy given the huge potential of travel retail. International Womens Day happened to coincide with the campaign. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. Francesca was Worldwide Merchandising and Communications director at Bottega Veneta, and Strategic Planning & Associate Worldwide Merchandising Director at Gucci. This inspired Bellettini to, in 1999, join the Business Planning and Development division of the Prada group. In 1999, he offered her a job as part of Pradas then-new business development division. Ms. Bellettini attributes her calm demeanor to her upbringing in the town of Cesena, near the Adriatic, the youngest of three daughters; her sisters are much older. 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Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. This is why we are less vocal. One question asked Bellettini what she most enjoyed about her job. 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. Nonetheless, the brand attracts luxurys coveted younger consumers. The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. 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. We see with the store reopening worldwide, we have a lot of younger customers coming, people in their 20s, buying gifts, etc., she says. Having crossed the $1 billion in sales threshold in 2017, the brand isa star performer in parent companyKerings luxury portfolio. 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. Speakers like Victoria Beckham, Saint Laurent chief executive Francesca Bellettini, Balenciaga CEO Cdric Charbit and model Bella Hadid engaged with a variety of issues: technological disruption, developing sustainable practices and . Still, she acknowledged, It is sometimes true you dont consider the circumstances in which things happen.. 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. 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. 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. Despite a heavy workload and "massive" pressure, she said she feels secure in her career. 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. 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. 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. 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 an exclusive interview with Vogue Business, CEO Francesca Bellettini shares her plans to continue growth while sticking to the brand's DNA. You can unsubscribe at any time. Customer Service. Balance is also evident in Saint Laurents approach to its clientele and distribution. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. The looks Anthony does for the shows are incredibly complete jewellery, shoes, etc. Due to the extraordinary growth of the company under her leadership, she has been named by the Financial Times as one of the 25 most influential women of 2022. . 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. 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. 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. I never have the feeling that we should do something different.. Kering's third-quarter earnings presentation mentions a continued appeal to younger generations. This was a further step, she says. We focused even more on what we could control, staying focused on the things we could do better, she explains. All rights reserved. She doesnt use mascara or foundation. Sign In. This is why we invested a lot in training. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. Saint Laurent is the second largest Kering house (representing 13 per cent of the group sales) behind Gucci. 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She worked at Prada and Helmut Lang prior to. Working with her is enriching, Mr. Vaccarello said. We understand what each other wants, she said. This has raised the bar for each and every one of us. Bellettini is a remarkable woman. She was appointed president and CEO of Yves Saint Laurent in 2013. If I can be honest, I dont think that today that campaign would even be shot.. Ready-to-wear, however, is growing faster at the moment, Bellettini notes, but she adds that the breakdown per category is not meaningful. Its not a problem. , Mr. Pinault set a broad strategic vision and gave her flexibility and freedom in reaching the goals. We dont do it to sell an extra bag. 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. 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. In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. 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. With the brands new direction firmly established, Bellettini is now focused on the future. Premium access for businesses and educational institutions. Hedi Slimane By Roza Kovak. 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. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Alex Murdaugh Receives Life Sentence: What Happens Now? Saint Laurent wanted to be a billion-dollar company. Sometimes if you look at one part, you lose the full picture, she says. 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. She joined the famous Parisian house, replacing Paul Deneuve, at a crucial time in its development. 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. Their brand offers an escape to people, which during this unparalleled time in our world, is vital. Luckily, everyone in Bellettinis team did speak English with her. It earned the brand criticisms. (Personal luxury goods sales dropped 22 per cent at the time, according to a Bain Altagamma study.) 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. My Lover, My Son: Dirigido por John Newland. Creative director Hedi Slimane left to take the reins of Celine and she recruited Vaccarello to succeed him. 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. The event ended with this final question: what is the greatest piece of advice you can share to the audience? We communicate the brand, and Anthony does it in a way thats very relevant, she says. Her father, whom she adored, was an accountant at a lumber company; her mother, a school administrator. Getty. 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. Saint Laurent wanted to be a billion-dollar company. 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. Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. 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. 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. 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. Francesca Bellettini (born 18 April 1970) is an Italian business woman. Bellettini joined Yves Saint Laurent from Bottega Veneta. 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.. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. Already, as soon as Vaccarello arrived, they had made the decision to always wait one year to mark down the current collection. Alex Murdaughs Trial Lasted Six Weeks. Anthony Vaccarello has nearly finished giving a tour of the just-opened 140,000-square-foot headquarters of fashion house Yves Saint Laurent in a tony corner of Pariss seventh arrondissement when, heading toward the exit, he says hes saved his favorite part for last. A dust-up occurred in 2015 during Mr. Slimanes tenure, when an ad featuring the young Dutch model Kiki Willems was censured and called irresponsible by Britains advertising watchdog agency because she looked excruciatingly thin. Certainly, Bellettini deserves to be recognised as one of the most influential leaders in fashion today. This has been a big strength during the pandemic, when tourism stopped. 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 . A great sales force can make a difference, in terms of proposing a silhouette. Valerio Mezzanotti for The New York Times. Francesca Bellettini has achieved the impossible with Saint Laurent. After graduating from high school, Bellettini had two plans. Consumers realised it and since the offer was already well-developed, they could find it in stores.. 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. How Saint Laurent Became a $3 Billion Powerhouse. In 2019 she was awarded the FrenchKnight of the Legion of Honour, the highest possible distinction for a civilian in the country. For cost savings, you can change your plan at any time online in the Settings & Account section. analyse how our Sites are used. You may cancel your subscription at anytime by calling Subhadra Dravida founded Transcell Biologics, a stem cell technology company, in 2009. After Prada, she jumped to Helmut Lang, to Gucci and then to Bottega Veneta, where she was communication and merchandising director, living comfortably in Lugano, near Milan. It isn't easy. YSL continues to grow that number. 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. 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. We use The company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. You will be notified in advance of any changes in rate or terms. We support credit card, debit card and PayPal payments. 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. Slimane leaves Saint Laurent, and Anthony Vaccarello is named. Im obsessed with two things: local customers and comp growth, says Bellettini. Over the last few years, this has hit high-end brands hard. 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. Customer Service. 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. Miller, who was born in Guyana, says,"I believe that level of abuse means I am doing something right for investors.". At the forefront of this strategy is balance. The brand also completely stopped making public markdowns during the pandemic. You may change your billing preferences at any time in the Customer Center or call In the past we would use it to do flooring of the warehouses. During tumultuous economic periods, purse strings are naturally tightened and non-essential purchases are forgone, including luxuries. When I had to replace Paul Deneve as C.E.O. 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. Will Others Follow? Why? ", The priority is to make sure the leather I use is sourced correctly. But I dont have to do something to please someone or some client.. (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) Simmenauer adds that the brands handbags in particular are timeless and well priced. It wasnt her first time in the line of fire, in any case. We are the only French couture house to be relevant in both menswear and womenswear. Definitely the sensitivity of people and their ability to speak out is much bigger than before, she said. 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. Part of establishing Saint Laurents new image has been a focus on permanent collections. 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. cookies But is it bad? First its for the people of the industry and then its for the people that look at the industry. Hear the latest economic, business and market news, as well as global, national, and local news. 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. You will be charged As a subscriber, you have 10 gift articles to give each month. He never frightens you, she said. Well, it turned out they didnt know much. (For example, we would never do gaming simply because its something Generation Z is into. He is a good cook; she is not, so he sometimes invites her over for pasta. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. Bellettini encouraged everyone to always be curious. For me, this is a balance between creativity, merchandising and business, added Bellettini. However, under Francesca Bellettini's guidance, the rebadged Saint Laurent has been remarkably successful. Reproduce canciones como "Distratto (I Wonder About You) [Acoustic Live Solo]", "Be My Husband (Acoustic Live Solo)" y mucho ms. Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. While she was working as an investment banker, the fashion industry was flourishing. 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And they certainly didnt know her. The enshittification of apps is real. As a luxury brand, you secure the best part of the leather. 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. The luxury house is known for its formalwear and sharp tailoring. 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. This documentary-style series follows investigative journalists as they uncover the truth. It was drastic, said McInnes. It was an anecdote from the early times of her career when she attended a meeting. "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 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. 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. You need to take a position sometimes, and you also need to give consumers things they dont even know that they want..
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