The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. The news sent shockwaves through the industry, with many interpreting the change as a sign of disrespect to the companys founder and namesake. When he bought himself a honey-colored bulldog puppy at Christmas, he bought one in black for her. This is made possible through a leadership style that is confident, but trusting. 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. This massage technique is attracting fans across Hollywood, including Ariana Grande, Kourtney Kardashian and Sean Diddy Combs. Yet, this also meant that they could not hire more people either. 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. Right now, Bellettini is actively trying to learn French with the goal of becoming an Okay French speaker by the end of 2021. In the past we would use it to do flooring of the warehouses. 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. Rebecca Faria, a 29-year-old Brazilian. View the profiles of people named Francesca Bellettini. 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. 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. Sign In. Leather goods represents the lions share of Saint Laurents sales (71 per cent of the business in 2020), which puts it in the league of brands with the highest percentage. Our Q3 performance in China was very strong, with excellent growth in-store and online. Getty. Hedi Slimane 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. Francesca Bellettini is appointed president and chief executive. 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. With the brands new direction firmly established, Bellettini is now focused on the future. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. Simmenauer adds that the brands handbags in particular are timeless and well priced. 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. 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. But in spite of this natural reaction, one brand has defied the trend. The decision was to invest. cookies 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. During the later stages of the conversation, when asked about the secrets of her success, she elaborated on how the relationship between the creative and business parts of a fashion brand is the single most important factor. Francesca Bellettini | BoF 500 | The People Shaping the Global Fashion Saint Laurent is never too skewed vis--vis anything vis--vis a product category, vis--vis a channel because we really believe in balance. As an Italian national, Bellettini grew up loving fashion and beauty, noting how her hometown, an influential street fashion hub, was inspiring. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. The company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. (Personal luxury goods sales dropped 22 per cent at the time, according to a Bain Altagamma study.) of Yves Saint Laurent. Nice to Meet You (Acoustic Live Solo) de Francesca Michielin 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. Her husband, a businessman who has been in her life for 20 years, lives in Milan. 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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. Non-Executive Director at Ferrari - View - Ferrari org chart. Over the last few years, this has hit high-end brands hard. 25 April 2016. 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. But I dont have to do something to please someone or some client.. We work a lot on conversion.. Sign up to our newsletter for a truly global perspective on the fashion industry. Now Dravida, also the firm's chief executive, is conducting research trials to treat a number of debilitatingconditions, including rheumatoid arthritis, muscular dystrophy, and stroke. 2023 Fortune Media IP Limited. 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. 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. All rights reserved. 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. Investing veterans Deborah Jackson and Andrea Turner Moffitt connectfemale entrepreneurs with investors in a creative way with their firm, Plum Alley Investments. We support credit card, debit card and PayPal payments. When she arrived from another Kering brand, Bottega Veneta, in 2013, the. 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. Please see our privacy policy for more information. Reproduce canciones como "Distratto (I Wonder About You) [Acoustic Live Solo]", "Be My Husband (Acoustic Live Solo)" y mucho ms. Saint Laurent is the second largest Kering house (representing 13 per cent of the group sales) behind Gucci. I could spend all day in here, Vaccarello says. She is determined never to panic or bow to public pressure out of fear. But in one areapublic relationswomen appear to dominate. In an exclusive interview with Vogue Business, CEO Francesca Bellettini shares her plans to continue growth while sticking to the brand's DNA. But when BoF founder and editor-in-chief Imran Amed asked Bellettini what she . During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. When you are at 2 billion, to think of potential at 3 billion is too easy, she says. Saint Laurent was the star of the Kering Groups most recent earnings publications. 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. 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. 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. 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.) She was appointed president and CEO of Yves Saint Laurent in 2013. Alex Murdaughs Trial Lasted Six Weeks. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. After graduating from high school, Bellettini had two plans. 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. Moreover, Bellettini called for everyone to be ambitious but never impatient; experiences take time to be made. Subhadra Dravida founded Transcell Biologics, a stem cell technology company, in 2009. Indeed, Bellettinis commitment to a balanced approach has made Saint Laurent the star of parent company Kerings vast portfolio of luxury brands. 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. It hasn't come without a cost. She doesnt wear hose even in the dead of winter. Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. Around 60 per cent of Saint Laurent's clients were locals in 2020, according to Morgan Stanleys estimates. 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. The brand also completely stopped making public markdowns during the pandemic. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. Virtual reality and sports seem like polar opposites. I am very proud because our sales associates feel their efforts can make a difference. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. 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. Do whatever you like. She took the job. (Bellettini has been opening an average of 20 new stores per year globally.). 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. We are delighted that you'd like to resume your subscription. Escucha 'Nice to Meet You (Acoustic Live Solo)' de Francesca Michielin en Apple Music. 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. Copyright 2023 Surperformance. 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 29 November 2018. Bellettini took it to that level within a three-year period. Bellettini encouraged everyone to always be curious. People from her region have a disarming way of speaking that makes them sound playful even when they are dead serious. 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. Frances advertising watchdog asked Saint Laurent to modify two ads. 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 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. We use She was a villain, then an icon. 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. 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. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Getty. Good morning, WMPW readers! Their brand offers an escape to people, which during this unparalleled time in our world, is vital. When she saw an article of clothing she really liked, she could not hold herself from saying I really liked that, without thinking about what her comments impact could be. 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.. This is to ensure the offer is reflecting the current vision of the brand. 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. One question asked Bellettini what she most enjoyed about her job. Will Others Follow? In 2019 she was awarded the FrenchKnight of the Legion of Honour, the highest possible distinction for a civilian in the country. (if applicable) for The Wall Street Journal. 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. Francesca Bellettini Photos and Premium High Res Pictures - Getty Images Terms & Conditions. They talk just about every day, share vacations and some weekends, but rarely appear in public together. Con Laetitia Casta, Mathieu Amalric, Pierre Arditi, Nomie Lvovsky. He asked me did I want to be C.E.O. 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. This has been a big strength during the pandemic, when tourism stopped. Francesca Bellettini, Yves St Laurent SA: Profile and Biography 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. Inside out Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. Her father, whom she adored, was an accountant at a lumber company; her mother, a school administrator. At the forefront of this strategy is balance. 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. 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. Facebook gives people. Cross selling requires more time. He is a good cook; she is not, so he sometimes invites her over for pasta. Francesca Bellettini, chief exec of fast-growing Yves Saint Laurent, says a crucial part of managing a business is balance. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Their go-to expert? A great sales force can make a difference, in terms of proposing a silhouette. Francesca Bellettini was appointed president andchief executiveof Saint Laurent in July 2013. 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. 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. 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. 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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. Reach out to me, at: laura.cohn@gmail.com or @laurascohn. We talk a lot about strategy, where we want to go. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Two Days Mattered Most. 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. However, under Francesca Bellettini's guidance, the rebadged Saint Laurent has been remarkably successful. Bellettini recommended her viewers to always be observant of a companys culture before applying for a job. It was a very ironic, very playful way to present stilettos and boots, she said. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. Email us at feedback@voguebusiness.com. Sexy concepts From 2008 to 2013, she worked at Bottega Veneta, eventually as worldwide merchandising and communications director. Still, she acknowledged, It is sometimes true you dont consider the circumstances in which things happen.. Diversification has been one key to the houses current success. Elon Musks Twitter is dying a slow and tedious death, Who to fire? International Womens Day happened to coincide with the campaign. Miller, who was born in Guyana, says,"I believe that level of abuse means I am doing something right for investors.". The scientific advance could aid people with recent hearing loss. Bellettini is the kind of person who is goal driven and focusing on pushing forward towards that goal, said McInnes. Victoria Beckham and Francesca Bellettini talk creativity and She took it to that level within a three-year period.. Saint Laurent opened its first flagship in China in 2019 and the network is being expanded in the country. Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand. Francesca Bellettini Net Worth (2023) | wallmine Francesca Bellettini is also on the board of Technogym SpA, Yves Saint Laurent UK Ltd. and Ferrari NV. My Lover, My Son: Dirigido por John Newland. Bellettini joined YSL during a crucial time in its development. 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. Got some news on an exceptional woman? (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) 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. Nowadays, I see that the consumer approaches Saint Laurent from every product category depending on what they want, said Bellettini to BoF. When describing why she chose Goldman Sachs International over other companies, she said that the company felt like a family. We see with the store reopening worldwide, we have a lot of younger customers coming, people in their 20s, buying gifts, etc., she says. Lauren Sherman. 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. Mr. Vaccarello and Ms. Bellettini have since become soul mates. He never frightens you, she said. In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. They are reluctant to be targeted.. 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. With the house on track to end 2021 with sales over 2 billion, CEO Francesca Bellettini believes the brand can rise even further. The biggest move to bring clarity back was changing the brand name. Her obsession is paying off. Creative director Hedi Slimane left to take the reins of Celine and she recruited Vaccarello to succeed him. Francesca Bellettini - Simple English Wikipedia, the free encyclopedia Le grand appartement: Dirigido por Pascal Thomas. 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 World's Most Powerful Women: April 26 | Fortune Le grand appartement (2006) - IMDb You may change your billing preferences at any time in the Customer Center or call Con Romy Schneider, Donald Houston, Dennis Waterman, Patricia Brake. Bellettini said that rather than trying to craft a personality far from your true self in order to win the interview, authenticity is key. This, Bellettini maintains, also translates to improved business from travellers a key strategy given the huge potential of travel retail. Moderated by Emma . 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. Speaking of Gen Z, she says the key is to be authentic. 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. 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. And she had done it all while navigating the departure of Saint Laurents star designer, Hedi Slimane, and the transition to a relatively low-key unknown, Anthony Vaccarello, a change of creative leadership that had the industry predicting disaster for the brand. Join Facebook to connect with Francesca Bellettini and others you may know. 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. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. During tumultuous economic periods, purse strings are naturally tightened and non-essential purchases are forgone, including luxuries. "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.