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. Though she declined to disclose a more ambitious goal herself, industry sources say it wants to become a 5 billion brand in time. 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. Renaming a world-famous brand is never advisable. Standard Digital includes access to a wealth of global news, analysis and expert opinion. 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 . of Yves Saint Laurent. Can New Bottega Balance Hype, Heritage and Rapid Growth. Kering's third-quarter earnings presentation mentions a continued appeal to younger generations. Not long after the name change, the company continued its transformation by appointing Bellettini as its new CEO, replacing Paul Deneuve, who changed industries to work under Apple CEO Tim Cook. Virtual reality and sports seem like polar opposites. 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. One of the few female CEOs leading a fashion brand, Francesca Bellettini started her career as an investment banker before switching industries. 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. Their go-to expert? Francesca Bellettini was appointed president andchief executiveof Saint Laurent in July 2013. Showing Editorial results for francesca bellettini. 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. Twenty-nine years old is a little early to do a job for money. 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. But she does believe in learning from mistakes. In 1999, he offered her a job as part of Pradas then-new business development division. Secondly, as a brand, YSL has set a clear strategy dedicated to never making compromises and executing meticulously. She lets me be totally free. The company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. 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. (For example, we would never do gaming simply because its something Generation Z is into. Saint Laurent wanted to be a billion-dollar company. (Personal luxury goods sales dropped 22 per cent at the time, according to a Bain Altagamma study.) Showing Editorial results for francesca le. 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. To win local customers, Saint Laurent invested in sales staff training. 787 Francesca Le Photos and Premium High Res Pictures - Getty Images All Entertainment News Archival Browse 787 francesca le stock photos and images available, or start a new search to explore more stock photos and images. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. A University of East Anglia researcher, Helen Bear, is developing technology to enable computers to read lips. You may cancel your subscription at anytime by calling Mr Saint Laurent himself said in the 70s: Why should we change a product when its already perfect? So, those people who were criticising the fact that some of our products were recurring and that we had a permanent collection probably didnt remember that it was actually part of the DNA of the brand, Bellettini told BoF. Already a member? Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers. Now, we have arrived at a level of quality that is so high that we can use them for trimmings of some products. 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. PARIS The Vogue Paris Fashion Festival gathered industry voices from heritage brands to startups; traditional retail to digital; casting agents to supermodels. 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 . Plan A was to study Business Administration at Bocconi University and follow her dream of running a company. 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. Francesca Bellettini was considered an odd choice for the heritage house but shes led it into the billion-euro club. Elon Musks Twitter is dying a slow and tedious death, Who to fire? PARIS Francesca Bellettini doesnt style her hair. But I dont have to do something to please someone or some client.. Ending with a hopefulness to participate the next time Brown University Fashion Week takes place in person, Bellettini left us in awe. As a subscriber, you have 10 gift articles to give each month. 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. The brand also completely stopped making public markdowns during the pandemic. But is it bad? Some people dont believe it, but Anthony was the only one I met for the job.. In an exclusive interview with, Ganni, Patagonia and Reformation join pilot to decarbonise fashion, US retailers prepare for new normal in 2023 after rocky year, Chanel names Whitney Peak as new face of Coco Mademoiselle, Victoria Beckham and Francesca Bellettini talk creativity and sustainability in Paris, The Long View by Vogue Business: Bracing for a summer without Americans, Enter your email to receive editorial updates, special offers and breaking news alerts from, Gucci stumbles as Asia-Pacific growth slows. Terms & Conditions. Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. 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. 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. Continuity candidate Ready-to-wear, however, is growing faster at the moment, Bellettini notes, but she adds that the breakdown per category is not meaningful. Bellettini appointed Anthony Vaccarello as creative director in 2016. Rebecca Faria, a 29-year-old Brazilian. She worked at Prada and Helmut Lang prior to. 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. 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: The Powerhouse Behind the Billion-Dollar Brand. It was a very ironic, very playful way to present stilettos and boots, she said. Sustainability, another pressing topic for fashion brands to consider alongside growth, is a priority, Bellettini says. 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. While she was working as an investment banker, the fashion industry was flourishing. 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. I never have the feeling that we should do something different.. 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. We would do it only if its coherent with the aesthetic of the brand, if it makes sense with the vision of Anthony, notes Bellettini.) Inside out 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.. personalising content and ads, providing social media features and to 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). Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. This has been a big strength during the pandemic, when tourism stopped. 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. As an Italian national, Bellettini grew up loving fashion and beauty, noting how her hometown, an influential street fashion hub, was inspiring. 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. Con Romy Schneider, Donald Houston, Dennis Waterman, Patricia Brake. 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. Bellettini joined YSL during a crucial time in its development. Her father, whom she adored, was an accountant at a lumber company; her mother, a school administrator. 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. 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. This is made possible through a leadership style that is confident, but trusting. Russia's war on Ukraine latest: Putin casts war as battle for nation's survival, India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, French media billionaire Niel fails with bid for TNT television frequence - Arcom. 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. 2013 - Present, 2008 - 2013, Buying & Merchandising Director, Selfridges, Creative Director, Tom Ford & Chairman, CFDA, Former Chairman & Chief Executive, Yoox Net-a-Porter Group. 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. Francesca Bellettini joined Kering in 2013. 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. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. By Laure Guilbault November 15, 2021 Courtesy of Saint Laurent Hear the latest economic, business and market news, as well as global, national, and local news. 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. I am very proud because our sales associates feel their efforts can make a difference. Saint Laurent opened its first flagship in China in 2019 and the network is being expanded in the country. Mr. Vaccarello and Ms. Bellettini have since become soul mates. 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. In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. The fired Google engineer who thought its A.I. She joined Kering in 2003 as Strategic Planning Director and Associate Worldwide Merchandising Director of Gucci. In a second, I said, Yes! Then I said, You know I dont speak French, right? and he said, I know that. This was a further step, she says. It was her fathers kind wisdom to follow her dreams at the young age of 29 that drove her to push away her fears and pursue a more uncertain path. 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. 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. Anyone can read what you share. Do whatever you like. She took 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. He never frightens you, she said. The companys enviable performance can, in large extent, be attributed to a drastic and unexpected rebranding. They talk just about every day, share vacations and some weekends, but rarely appear in public together. Some white space to reach its new target. Two Days Mattered Most. 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. 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. This massage technique is attracting fans across Hollywood, including Ariana Grande, Kourtney Kardashian and Sean Diddy Combs. 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. 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 . 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. 2023 Fortune Media IP Limited. He asked me did I want to be C.E.O. 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. What did they know? 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. 25 April 2016. of Saint Laurent, she was the first name on my list, Mr. Pinault said. You may change your billing preferences at any time in the Customer Center or call All Rights Reserved. You can still enjoy your subscription until the end of your current billing period. Part of establishing Saint Laurents new image has been a focus on permanent collections. The looks Anthony does for the shows are incredibly complete jewellery, shoes, etc. Premium access for businesses and educational institutions. 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]." Bellettini has achieved this global reach through a keen focus on developing local markets. 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 Saint Laurent head office is based on Rue de Bellechasse in Paris. That means you risk having more leftovers. He was Ms. Bellettinis only candidate. When she arrived from another Kering brand, Bottega Veneta, in 2013, the. Having crossed the $1 billion in sales threshold in 2017, the brand isa star performer in parent companyKerings luxury portfolio. 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 . Around 60 per cent of Saint Laurent's clients were locals in 2020, according to Morgan Stanleys estimates. Its not a problem. , Mr. Pinault set a broad strategic vision and gave her flexibility and freedom in reaching the goals. She turned to her father for guidance. Try full digital access and see why over 1 million readers subscribe to the FT, Purchase a Trial subscription for $1 for 4 weeks, You will be billed $69 per month after the trial ends, Russian far-right fighter claims border stunt exposes Putins weakness, Germany seeks to buy Leopard tanks from Switzerland, Germany and Italy stall EU ban on combustion engines, Ukraine asks EU for 250,000 artillery shells a month, Russia on alert after reconnaissance group crosses over from Ukraine, Panic station at Fox News: how the Murdochs agonised over Trumps loss, Saudi owner of Londons most expensive house sued over alleged unpaid private jet bills, UK cabbage king turns to plant-based proteins, UK housing market braced for make-or-break spring, Airlines plan to sue Dutch government over Schiphol airport flight cap, There are no domestic equity investors: why companies are fleeing Londons stock market, Live news updates from March 3: Amazon pauses HQ2 construction, UK regulators launch LME probe, Deluge of inflation data pushes US borrowing costs to 2007 levels, FCA regulator blamed for Arms decision to shun London listing, Clutching Warrens letter, Im still positive on stocks, Joe Biden teaches the EU a lesson or two on big state dirigisme. 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. For cost savings, you can change your plan at any time online in the Settings & Account section. 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. 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. In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. 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. This, Bellettini maintains, also translates to improved business from travellers a key strategy given the huge potential of travel retail. 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. We communicate the brand, and Anthony does it in a way thats very relevant, she says. We talk a lot about strategy, where we want to go. 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. 29 November 2018. 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. But she did not pull the ads. Got some news on an exceptional woman? Nowadays, I see that the consumer approaches Saint Laurent from every product category depending on what they want, said Bellettini to BoF. Her husband, a businessman who has been in her life for 20 years, lives in Milan. 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. 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. The biggest move to bring clarity back was changing the brand name. 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. (Bellettini has been opening an average of 20 new stores per year globally.). Opinion: No Country for Alzheimers Patients, Opinion: Common Sense Points to a Lab Leak, Opinion: A Nikki Haley and Vivek Ramaswamy Victory, Opinion: Overruling the District of Columbia on Crime. We work a lot on conversion.. In 2019 she was awarded the French Knight of the Legion of Honour, the highest possible distinction for a civilian in the country. If I can be honest, I dont think that today that campaign would even be shot.. 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. He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking. Bellettini also believes that no job is a waste of time, even if we have to deal with bosses that we do not like. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Nonetheless, the brand attracts luxurys coveted younger consumers. Frances advertising watchdog asked Saint Laurent to modify two ads. 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. With the house on track to end 2021 with sales over 2 billion, CEO Francesca Bellettini believes the brand can rise even further. Simmenauer adds that the brands handbags in particular are timeless and well priced. Bellettini has increased control over distribution, rationalised the number of wholesale doors and put in place a controlled and even more selective product distribution by signing contracts of selected distribution in Europe, converting in concessions some doors with wholesale partners. 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. Leather in particular is a material the brand is paying attention to, in terms of avoiding waste. 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. The ad campaign had almost run its course, and Saint Laurent did not respond to the criticism. He gives you autonomy within a framework., Ms. Bellettini relied on her Italian identity to navigate the alien culture of Paris. 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. 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. The decision was to invest. Offers may be subject to change without notice. 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. 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 is a remarkable woman. (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) When he bought himself a honey-colored bulldog puppy at Christmas, he bought one in black for her. I said, I met Mr. Bertelli and he offered me the job of my life, and I can leave banking, she recalled. 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. 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. Bellettini put a significant value on company culture. One question asked Bellettini what she most enjoyed about her job. Bellettini recommended her viewers to always be observant of a companys culture before applying for a job. Bellettini noted how, guided by YSLs commitment to its team, they managed to not fire anyone during the COVID-19 pandemic. Saint Laurent is the second largest Kering house (representing 13 per cent of the group sales) behind Gucci. 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. It is only then can we find long-term joy and success. 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. When you are at 2 billion, to think of potential at 3 billion is too easy, she says. Comedienne Amy Schumer makes the cover of Vanity Fair, Trump supporters sell 'Trump That Bitch' t-shirts depicting Hillary Clinton as the businessman candidatestruggles to attract female voters, Women will grace 5 pound and 10 pound notes in Scotland, Howa woman rose to senior product manager from customer support at Etsy, Fire departments in the U.S. turn to women volunteers, Designer Christine Kendall sues Alexander McQueen over Duchess of Cambridge's wedding dress, actress Helen Mirren, reflecting on a lack of roles for women in movies.