Many observers credit Slimane for Saint Laurents recent success. Well, it turned out they didnt know much. Saint Laurent opened its first flagship in China in 2019 and the network is being expanded in the country. Francesca Bellettini | BoF 500 | The People Shaping the Global Fashion 29 November 2018. Already a member? 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. Slimane leaves Saint Laurent, and Anthony Vaccarello is named. 2013 - Present, 2008 - 2013, Buying & Merchandising Director, Selfridges, Creative Director, Tom Ford & Chairman, CFDA, Former Chairman & Chief Executive, Yoox Net-a-Porter Group. How Yves Saint Laurent's CEO Worked to Improve Corporate Culture Hear the latest economic, business and market news, as well as global, national, and local news. Copyright 2023 Surperformance. 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. Saint Laurent's Power Woman - The New York Times In 2013, she became President and Chief Executive Officer of Yves Saint Laurent. She joined Kering in 2003 as Strategic Planning Director and Associate Worldwide Merchandising Director of Gucci. The decision was to invest. She was there to review a collection for the upcoming season. Saint Laurent is never too skewed vis--vis anything vis--vis a product category, vis--vis a channel because we really believe in balance. Francesca Bellettini a star at Saint Laurent | Financial Times Impressively, the executive has maintained the house's upward trajectorydespitethe departure of its star creative director Yves Saint Laurent Names Francesca Bellettini CEO; Hedi Slimane - WSJ Bellettini joined YSL during a crucial time in its development. Even before Mr. Slimane decided not to renew his contract after slightly less than four years at the house, Ms. Bellettini had noticed an interesting trend in fashion magazines and shops like Colette in Paris and Bergdorfs in New York: Mr. Vaccarellos ready-to-wear was being matched up with Saint Laurents accessories. This is to ensure the offer is reflecting the current vision of the brand. 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. But when BoF founder and editor-in-chief Imran Amed asked Bellettini what she . In the past we would use it to do flooring of the warehouses. Terms & Conditions. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. First its for the people of the industry and then its for the people that look at the industry. I never have the feeling that we should do something different.. 2023 Fortune Media IP Limited. The company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. 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. Her major renovation of the companys organisation not only consolidated the brands new image, but also allowed Saint Laurent to reach a whole new audience. Over the last few years, this has hit high-end brands hard. 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. She had always loved fashion, but the job came with a 50 percent pay cut. . (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. Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. university Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris.CreditMarco Cella for The New York Times. To receive the Vogue Business newsletter, sign up here. She doesnt use mascara or foundation. Francesca Bellettini - Simple English Wikipedia, the free encyclopedia Simmenauer adds that the brands handbags in particular are timeless and well priced. She is resolved to stay true to the brands DNA while pushing to capture new customers and enter new markets. 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. 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. 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. This is why we are less vocal. 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. Bellettinis laser focus and operational skills helped Saint Laurent thrive during the pandemic period that could have even should have left it vulnerable, as the world shifted to staying home and wearing sweats. 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. Francesca Bellettini is appointed president and chief executive. By Roza Kovak. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. 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. Comments, questions or feedback? 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. 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. Their brand offers an escape to people, which during this unparalleled time in our world, is vital. Right now, Bellettini is actively trying to learn French with the goal of becoming an Okay French speaker by the end of 2021. 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. 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. Moderated by Emma . S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. This inspired Bellettini to, in 1999, join the Business Planning and Development division of the Prada group. 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. From 2008 to 2013, she worked at Bottega Veneta, eventually as worldwide merchandising and communications director. 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. Flexibility has been another. 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. 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. Ready-to-wear, however, is growing faster at the moment, Bellettini notes, but she adds that the breakdown per category is not meaningful. Bellettini stressed the importance of finding those special people along who you can trust. Bellettini appointed Anthony Vaccarello as creative director in 2016. 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. The looks Anthony does for the shows are incredibly complete jewellery, shoes, etc. 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. 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. The biggest move to bring clarity back was changing the brand name. 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. Moreover, Bellettini called for everyone to be ambitious but never impatient; experiences take time to be made. Francesca Bellettini has achieved the impossible with Saint Laurent. Rebecca Faria, a 29-year-old Brazilian. As a luxury brand, you secure the best part of the leather. Renaming a world-famous brand is never advisable. 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. In his new novel, Tracy Flick Cant Win, author Tom Perrotta asks: Who is Tracy Flick now? 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. Its effective, also because the name is powerful.. Mr. Vaccarello and Ms. Bellettini have since become soul mates. Saint Laurent is the second largest Kering house (representing 13 per cent of the group sales) behind Gucci. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Francesca Le Photos and Premium High Res Pictures - Getty Images Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. Twenty-nine years old is a little early to do a job for money. The event ended with this final question: what is the greatest piece of advice you can share to the audience? Hedi Slimane Power Moves | Francesca Bellettini Named CEO of Yves Saint Laurent If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. 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. One question asked Bellettini what she most enjoyed about her job. Bellettini is the kind of person who is goal driven and focusing on pushing forward towards that goal, said McInnes. They are reluctant to be targeted.. With the brands new direction firmly established, Bellettini is now focused on the future. Francesca Bellettini with creative director Anthony Vaccarello and Franois-Henri Pinault, chairman and chief executive of Kering "That is something that you learn in banking," she adds.. 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. 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. 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. 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 Two Days Mattered Most. of Yves Saint Laurent. Bellettini also shared how she still does not speak French. A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. Nowadays, I see that the consumer approaches Saint Laurent from every product category depending on what they want, said Bellettini to BoF. The scientific advance could aid people with recent hearing loss. 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. 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. 25 April 2016. In 2008, she joined Bottega Veneta and became Worldwide Merchandising and Communications Director in 2010. organisation Eileen Fisher is trying to raise the bar for sustainable fashion. FRANCESCA BELLETTINI. Good morning, WMPW readers! Francesca Root-Dodson on Instagram: "Thrilled to be part of this of Saint Laurent, she was the first name on my list, Mr. Pinault said. Ms. Bellettini said that she received a stream of hate emails, including one calling her a whore. 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. 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. Saint Laurent's Dedication to Cultural Cultivation Fuels Growth in In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. We understand what each other wants, she said. Francesca Bellettini CEO Saint Laurent Future After Hedi Slimane In a second, I said, Yes! Then I said, You know I dont speak French, right? and he said, I know that. Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand We see with the store reopening worldwide, we have a lot of younger customers coming, people in their 20s, buying gifts, etc., she says. You need to take a position sometimes, and you also need to give consumers things they dont even know that they want.. Investing veterans Deborah Jackson and Andrea Turner Moffitt connectfemale entrepreneurs with investors in a creative way with their firm, Plum Alley Investments. She lets me be totally free. 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. In the luxury group's2018 full-year results, Saint Laurent reached sales1.74 billion, a 16.1 percent increase in reported growth. First of all fashion, in Bellettinis words, can transform you into a dreamer. I said, I met Mr. Bertelli and he offered me the job of my life, and I can leave banking, she recalled. International Womens Day happened to coincide with the campaign. Facebook gives people. Sometimes if you look at one part, you lose the full picture, she says. The creative director responded to Bellettini with, So you did not like the rest? Bellettini drew attention to how important it is to respect designers and understand the pressure they have on their shoulders. Bellettini said that rather than trying to craft a personality far from your true self in order to win the interview, authenticity is key. Powered and implemented by Interactive Data Managed Solutions. Standard Digital includes access to a wealth of global news, analysis and expert opinion. We are delighted that you'd like to resume your subscription. 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. 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]." Will Others Follow? In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. It was drastic, said McInnes. One of the few female CEOs leading a fashion brand, Francesca Bellettini started her career as an investment banker before switching industries. 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. 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. Indeed, it is this quality, together with a deep understanding of the importance of balance in all aspects of business, that has propelled Saint Laurent to remarkable heights in todays turbulent economic landscape. She took it to that level within a three-year period.. Her poise, her elegance, her drive, all with an overwhelming optimism. According to the fashion house's CEO, Francesca Bellettini, the Vaccarello era at the fashion house will be a . 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. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International.
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