She doesnt use mascara or foundation. After graduating from high school, Bellettini had two plans. 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. The people shaping the global fashion industry, curated by the editors of The Business of Fashion, based on nominations and on-the-ground intelligence from around the world. Bellettini encouraged everyone to always be curious. of Yves Saint Laurent. 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. People from her region have a disarming way of speaking that makes them sound playful even when they are dead serious. Its no longer about brand loyalty so much as in being at the forefront of peoples minds, said Gail McInnes, fashion industry expert and CEO of Stylist Box. 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.. Simply log into Settings & Account and select "Cancel" on the right-hand side. Saint Laurent wanted to be a billion-dollar company. 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. 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. Saint Laurent is the second largest Kering house (representing 13 per cent of the group sales) behind Gucci. 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). She joined Kering in 2003 as Strategic Planning Director and Associate Worldwide Merchandising Director of Gucci. Why is Anthonys ready-to-wear always pictured in the magazines with our bags and shoes? 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. Her obsession is paying off. Francesca Bellettini (born 18 April 1970) is an Italian business woman. 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. Having crossed the $1 billion in sales threshold in 2017, the brand isa star performer in parent companyKerings luxury portfolio. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. or When you are at 2 billion, to think of potential at 3 billion is too easy, she says. She turned to her father for guidance. 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. It hasn't come without a cost. 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 . That mindset is reflected in what Saint Laurent does as much as what it chooses not to do. This business model is something Bellettini argues helps the brand to get back to its core essence as a fashion house. "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. It makes us simpatico. The worst thing you can do with your teams is to create a culture of fear.. Now, we have arrived at a level of quality that is so high that we can use them for trimmings of some products. 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. 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. This documentary-style series follows investigative journalists as they uncover the truth. 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. As a luxury brand, you secure the best part of the leather. 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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. 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. 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. 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 . This massage technique is attracting fans across Hollywood, including Ariana Grande, Kourtney Kardashian and Sean Diddy Combs. 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. 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. 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. What did they know? The oldest executive at Kering SA is Baudouin Prot, 69, who is the Director. 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. Flexibility has been another. (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) She climbed the ladder at Kering starting in 2003, when she joined as strategic planning director and associate worldwide merchandising director of Gucci. 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. He never frightens you, she said. 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. 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. 2016 Saint Laurent achieves 26 per cent year-on-year growth. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. She is resolved to stay true to the brands DNA while pushing to capture new customers and enter new markets. 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. 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. Virtual reality and sports seem like polar opposites. PARIS Francesca Bellettini is riding high.. 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. 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. 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. Moderated by Emma . Do whatever you like. She took the job. Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. 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. 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. 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. According to the fashion house's CEO, Francesca Bellettini, the Vaccarello era at the fashion house will be a . Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. . 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. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. Bellettini started Bocconi University and completed her education with a year abroad at the University of Chicago where she was introduced to the world of investment banking. Cross selling requires more time. You will be charged 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 biggest move to bring clarity back was changing the brand name. 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. When I had to replace Paul Deneve as C.E.O. She sure is a powerhouse woman running a billion-dollar brand. 2023 The Business of Fashion. Secondly, as a brand, YSL has set a clear strategy dedicated to never making compromises and executing meticulously. Notable for Saint Laurent under Bellettini is its leather business. The luxury house is known for its formalwear and sharp tailoring. 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. The event ended with this final question: what is the greatest piece of advice you can share to the audience? 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. Chief Executive Officer, Yves Saint Laurent at Kering - View - Kering org chart. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. The rue de Bellechasse headquarters was the idea of Francesca Bellettini, president and CEO of Yves Saint Laurent. This generation doesnt appreciate being considered a target. In 2013, she became President and Chief Executive Officer of Yves Saint Laurent. 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. Over the last few years, this has hit high-end brands hard. Will Others Follow? Already a member? At the forefront of this strategy is balance. and other data for a number of reasons, such as keeping FT Sites reliable and secure, First of all fashion, in Bellettinis words, can transform you into a dreamer. Renaming a world-famous brand is never advisable. In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. If I can be honest, I dont think that today that campaign would even be shot.. Balance is also evident in Saint Laurents approach to its clientele and distribution. From 2008 to 2013, she worked at Bottega Veneta, eventually as worldwide merchandising and communications director. 25 April 2016. $ + tax Why? 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. Definitely the sensitivity of people and their ability to speak out is much bigger than before, she said. The name Yves Saint Laurent is iconic within the fashion realm, and the client base is loyal, but having to stay relevant and to attract the next generation of customers is why the rebranding was so drastic and became so controversial. Con Romy Schneider, Donald Houston, Dennis Waterman, Patricia Brake. This has been a big strength during the pandemic, when tourism stopped. 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. During tumultuous economic periods, purse strings are naturally tightened and non-essential purchases are forgone, including luxuries. She was a villain, then an icon. Comments, questions or feedback? He was Ms. Bellettinis only candidate. The Saint Laurent head office is based on Rue de Bellechasse in Paris. 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 . Saint Laurent was the star of the Kering Groups most recent earnings publications. Consumers realised it and since the offer was already well-developed, they could find it in stores.. Bellettini put a significant value on company culture. She is determined never to panic or bow to public pressure out of fear. Speaking of Gen Z, she says the key is to be authentic. 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. By Roza Kovak. Can New Bottega Balance Hype, Heritage and Rapid Growth. It isn't easy. Her husband, a businessman who has been in her life for 20 years, lives in Milan. 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. 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. Their go-to expert? 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. 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 work a lot on conversion.. She worked at Prada and Helmut Lang prior to. We dont do it to sell an extra bag. 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. Many observers credit Slimane for Saint Laurents recent success. Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers. 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. 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.. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Bellettini, a former investment banker, had stints at Prada group and Helmut Lang. 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. organisation But in one areapublic relationswomen appear to dominate. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. For more information read our Terms & Conditions and Privacy Policy. This was a further step, she says. Francesca Bellettini (FB): Saint Laurent's retail performances in China absolutely surpassed the pre-COVID-19 situation, boosted by Chinese consumers buying locally. Subhadra Dravida founded Transcell Biologics, a stem cell technology company, in 2009. university He gives you autonomy within a framework., Ms. Bellettini relied on her Italian identity to navigate the alien culture of Paris. Sign up to our newsletter for a truly global perspective on the fashion industry. We knew that this was a super-healthy girl who had been working with us forever and we didnt see anything bad, Ms. Bellettini 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. You can unsubscribe at any time. Mr. Vaccarello and Ms. Bellettini have since become soul mates. Since 2012, Saint Laurent Paris, formerly known as Yves Saint Laurent, has boasted double-digit year-on-year growth. Customer Service. The company has a remarkably even worldwide geographical coverage in terms of stores and customers. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. We understand what each other wants, she said. The company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. Part of establishing Saint Laurents new image has been a focus on permanent collections. of Saint Laurent, she was the first name on my list, Mr. Pinault said. Bellettini says her brand derives its revenue from a range of. 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. While she was working as an investment banker, the fashion industry was flourishing. 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. 2023 Fortune Media IP Limited. From left, Ms. Bellettini; Anthony Vaccarello, creative director for Saint Laurent, and Franois-Henri Pinault, chairman and chief executive of Kering. The companys enviable performance can, in large extent, be attributed to a drastic and unexpected rebranding. A great sales force can make a difference, in terms of proposing a silhouette. Powered and implemented by Interactive Data Managed Solutions. The biggest move to bring clarity back was changing the brand name. Standard Digital includes access to a wealth of global news, analysis and expert opinion. 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