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 may cancel your subscription at anytime by calling Sometimes if you look at one part, you lose the full picture, she says. Getty. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. And she doesnt speak French. A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. 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. 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. 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. What did they know? If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. 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. The only time that there is more women on the set as extras is a swimming pool scene and they're all in bikinisany swimming pool scene and suddenly it's full of women. 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. Now, we have arrived at a level of quality that is so high that we can use them for trimmings of some products. 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 . While she was working as an investment banker, the fashion industry was flourishing. She has been the chief executive officer of Yves Saint Laurent since 2013. Some people dont believe it, but Anthony was the only one I met for the job.. Virtual reality and sports seem like polar opposites. . Showing Editorial results for francesca le. He was required to sign a confidentiality agreement. We work a lot on conversion.. When he bought himself a honey-colored bulldog puppy at Christmas, he bought one in black for her. Getty. Luckily, everyone in Bellettinis team did speak English with her. The luxury house is known for its formalwear and sharp tailoring. Having crossed the $1 billion in sales threshold in 2017, the brand isa star performer in parent companyKerings luxury portfolio. 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. 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. It wasnt her first time in the line of fire, in any case. Fashion has never been so competitive. He asked me did I want to be C.E.O. Twenty-nine years old is a little early to do a job for money. He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking. Her father, whom she adored, was an accountant at a lumber company; her mother, a school administrator. 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. (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) Rebecca Faria, a 29-year-old Brazilian. This business model is something Bellettini argues helps the brand to get back to its core essence as a fashion house. 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. All rights reserved. When I met him, I was incredibly impressed that he was not at all afraid of the challenge. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. Simmenauer adds that the brands handbags in particular are timeless and well priced. It is only then can we find long-term joy and success. Sign up to our newsletter for a truly global perspective on the fashion industry. 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. 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. 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. 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. Smaller categories such as silk, jewellery and eyewear are also booming, contributing to growth. She has that rare leadership quality which allows her team members to do the work they were hired to do with little or no interference. 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. 25 April 2016. Non-Executive Director at Ferrari - View - Ferrari org chart. offers FT membership to read for free. Yet, this also meant that they could not hire more people either. 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. 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. Got some news on an exceptional woman? Bellettini said that rather than trying to craft a personality far from your true self in order to win the interview, authenticity is key. She climbed the ladder at Kering starting in 2003, when she joined as strategic planning director and associate worldwide merchandising director of Gucci. Alex Murdaugh Receives Life Sentence: What Happens Now? Definitely the sensitivity of people and their ability to speak out is much bigger than before, she said. Their go-to expert? 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). Tall and slim, Ms. Bellettini is always clad head-to-toe in Saint Laurent, which she wears with the throwaway ease of any old thing. Slimane leaves Saint Laurent, and Anthony Vaccarello is named. Will Others Follow? This documentary-style series follows investigative journalists as they uncover the truth. Saint Laurent opened its first flagship in China in 2019 and the network is being expanded in the country. When the number of Chinese tourists coming to Paris plummeted in the aftermath of terrorist attacks in January and November of 2015, Saint Laurent refocused its Paris stores on attracting France-based clients and ramped up the business in China. 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. Frances advertising watchdog asked Saint Laurent to modify two ads. Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers. 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. She turned to her father for guidance. Facebook gives people. Our duty is to know what's going on in the supply chain and control it in the best possible way. Bellettini, a former investment banker, had stints at Prada group and Helmut Lang. 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. 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. Comments, questions or feedback? Showing Editorial results for francesca bellettini. The Saint Laurent head office is based on Rue de Bellechasse in Paris. Saint Laurent wanted to be a billion-dollar company. Please see our privacy policy for more information. Mr. Vaccarello and Ms. Bellettini have since become soul mates. Over the last few years, this has hit high-end brands hard. You will be notified in advance of any changes in rate or terms. 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. California Weighs $360,000 in Reparations to Eligible Black Residents. Email us at [email protected]. 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. For me, this is a balance between creativity, merchandising and business, added Bellettini. 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. The company has a remarkably even worldwide geographical coverage in terms of stores and customers. If I can be honest, I dont think that today that campaign would even be shot.. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. 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 reality, however, has proven to be very different. Continuity candidate Bellettini has achieved this global reach through a keen focus on developing local markets. 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. Sustainability, another pressing topic for fashion brands to consider alongside growth, is a priority, Bellettini says. Bellettini joined YSL during a crucial time in its development. 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 of Yves Saint Laurent. Mr. Vaccarello and Ms. Bellettini have since become soul mates. 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. Sign In. Ready-to-wear, however, is growing faster at the moment, Bellettini notes, but she adds that the breakdown per category is not meaningful. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris.CreditMarco Cella for The New York Times. Also, focus: In Paris, Ms. Bellettini lives in an apartment close to the 17th-century htel particulier on the Left Bank that serves as the companys creative core. YSL continues to grow that number. The fired Google engineer who thought its A.I. It helps that were open, that we tend to smile, that we have this funny accent, she said, smiling. 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. Saint Laurent wanted to be a billion-dollar company. 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. 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. We understand what each other wants, she said. She sure is a powerhouse woman running a billion-dollar brand. 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. But she did not pull the ads. I am very proud because our sales associates feel their efforts can make a difference. Bellettini says her brand derives its revenue from a range of. But I dont have to do something to please someone or some client.. Francesca was Worldwide Merchandising and Communications director at Bottega Veneta, and Strategic Planning & Associate Worldwide Merchandising Director at Gucci. Nowadays, I see that the consumer approaches Saint Laurent from every product category depending on what they want, said Bellettini to BoF. One question asked Bellettini what she most enjoyed about her job. 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. 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. But she does believe in learning from mistakes. 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. She joined the famous Parisian house, replacing Paul Deneuve, at a crucial time in its development. 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.. It hasn't come without a cost. 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. 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. Impressively, the executive has maintained the house's upward trajectorydespitethe departure of its star creative director 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. Simply log into Settings & Account and select "Cancel" on the right-hand side. He never frightens you, she said. But is it bad? And though former Creative Director Hedi Slimane was very much a driving force for this transition, it was CEO Francesca Bellettini who ensured the success of such a risky strategy, while also overseeing a radical overhaul of the company from within. Saint Laurent still has white space to open stores, develop in Asia and reinforce cross-selling across product categories, says Ortelli. Customer Service. This, Bellettini maintains, also translates to improved business from travellers a key strategy given the huge potential of travel retail. Francesca Bellettini, chief exec of fast-growing Yves Saint Laurent, says a crucial part of managing a business is balance. Why is Anthonys ready-to-wear always pictured in the magazines with our bags and shoes? 2023 Fortune Media IP Limited. 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. 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. Nonetheless, the brand attracts luxurys coveted younger consumers. Indeed, such a drastic identity change is usually a big no for established brands, but the audacious move came as part of a shake-up intended to give the brand some much-needed clarity. Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand. 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. 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. 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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 . We are delighted that you'd like to resume your subscription. International Womens Day happened to coincide with the campaign. 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. Inside out personalising content and ads, providing social media features and to Two Days Mattered Most.
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