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. 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. Valerio Mezzanotti for The New York Times. At a time when fashion is all about body positivity, Saint Laurent put thin models on the catwalk of its recent show. The luxury house is known for its formalwear and sharp tailoring. 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. Previously, she worked in Compass Partners International, UK from 1998 to 1999, in Deutsche Morgan Grenfell, UK from 1996 to 1998 and in Goldman Sachs . One question asked Bellettini what she most enjoyed about her job. 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. 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. This is to ensure the offer is reflecting the current vision of the brand. Some white space to reach its new target. I could spend all day in here, Vaccarello says. $ + tax Bellettini decided that experience in finance would bolster her chances of pursuing her dream of running a company -- and so, she dove into a very new universe of Goldmach Sachs International. Impressively, the executive has maintained the house's upward trajectorydespitethe departure of its star creative director 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. Nevertheless, Bellettinis success was not easy to achieve. FRANCESCA BELLETTINI. The companys enviable performance can, in large extent, be attributed to a drastic and unexpected rebranding. 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. Working with her is enriching, Mr. Vaccarello said. Though she declined to disclose a more ambitious goal herself, industry sources say it wants to become a 5 billion brand in time. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. 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 39-year-old fashion designer has always been a low-key personality, loath to toot his own horn, even though he has enjoyed double-digit sales growth at Saint Laurent since he was named creative director in April 2016. Fashion has never been so competitive. The brand also completely stopped making public markdowns during the pandemic. First its for the people of the industry and then its for the people that look at the industry. 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. Bellettini also believes that no job is a waste of time, even if we have to deal with bosses that we do not like. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. 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. In a second, I said, Yes! Then I said, You know I dont speak French, right? and he said, I know that. 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. 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. From 2008 to 2013, she worked at Bottega Veneta, eventually as worldwide merchandising and communications director. The biggest move to bring clarity back was changing the brand name. Frances advertising watchdog asked Saint Laurent to modify two ads. Smaller categories such as silk, jewellery and eyewear are also booming, contributing to growth. Investing veterans Deborah Jackson and Andrea Turner Moffitt connectfemale entrepreneurs with investors in a creative way with their firm, Plum Alley Investments. This generation doesnt appreciate being considered a target. A University of East Anglia researcher, Helen Bear, is developing technology to enable computers to read lips. Quick to smile at everyone, even in a smile-stingy city like Paris, she is also famously calm and loath to second-guess herself or her team. In an exclusive interview with Vogue Business, CEO Francesca Bellettini shares her plans to continue growth while sticking to the brand's DNA. You will be notified in advance of any changes in rate or terms. 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. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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 It earned the brand criticisms. Sales have just hit the 1.5 billion mark; her ultimate goal is to double it. 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. 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. When describing why she chose Goldman Sachs International over other companies, she said that the company felt like a family. Elon Musks Twitter is dying a slow and tedious death, Who to fire? And you have to act as if youre already there., The fired Google engineer who thought its A.I. Indeed, it is this quality, together with a deep understanding of the importance of balance in all aspects of business, that has propelled Saint Laurent to remarkable heights in todays turbulent economic landscape. She has what she calls de-stressful activities three mornings a week: running as much as six miles along the Seine or kickboxing with a personal trainer. cookies A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. 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. 518 Likes, 6 Comments - Francesca Root-Dodson (@francescajoroot) on Instagram: "Thrilled to be part of this beautiful production of "The Sign in Sidney Brustein's Window" with my" 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. We dont do it to sell an extra bag. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Saint Laurent still has white space to open stores, develop in Asia and reinforce cross-selling across product categories, says Ortelli. Our Q3 performance in China was very strong, with excellent growth in-store and online. Part of establishing Saint Laurents new image has been a focus on permanent collections. 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. university He never frightens you, she said. could be sentient says Microsofts chatbot feels like watching the Shark Tank investor Kevin OLeary says a new generation of employee has never worked in an officeand its totally I cant afford to sell because I dont want to lose that rate: 3% mortgage rates will loom large over the U.S. CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. 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. Alex Murdaugh Receives Life Sentence: What Happens Now? Getty. 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. 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. Inside out He and Ms. Bellettini speak to each other in English but sometimes send text messages in Italian. In 2013, she became President and Chief Executive Officer of Yves Saint Laurent. Bloody hell!. Gucci became the first brand to go public, attracting business administrators to the sector. The enshittification of apps is real. 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 . 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. Powered and implemented by Interactive Data Managed Solutions. Her husband, a businessman who has been in her life for 20 years, lives in Milan. In 2019 she was awarded the French Knight of the Legion of Honour, the highest possible distinction for a civilian in the country. Renaming a world-famous brand is never advisable. This inspired Bellettini to, in 1999, join the Business Planning and Development division of the Prada group. analyse how our Sites are used. Silicon Valley always seems to be abuzz about the limited number of womenin the tech industry. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. As a subscriber, you have 10 gift articles to give each month. 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. The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. Francesca Bellettini (born 18 April 1970) is an Italian business woman. 29 November 2018. 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. Despite a heavy workload and "massive" pressure, she said she feels secure in her career. 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. 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. Apple said Mr. Deneve would be. Customer Service. Whilst at the Italian leather goods and ready-to-wear brand, also owned by Kering, Bellettini oversaw merchandising, visual display and communications and was instrumental in the brands repositioning and popularity in emerging markets. Sometimes if you look at one part, you lose the full picture, she says. It was brilliant from a marketing standpoint. We use For cost savings, you can change your plan at any time online in the Settings & Account section. 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. 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. 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 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. She sure is a powerhouse woman running a billion-dollar brand. Im obsessed with two things: local customers and comp growth, says Bellettini. The decision was to invest. Bellettini took it to that level within a three-year period. Cross selling requires more time. You may change your billing preferences at any time in the Customer Center or call Lauren Sherman. . Yet, what was most eye-opening was when Bellettini explained that, in fact, we must focus on choosing a job that suits us the most; we must focus on finding work that ignites a spark. Bellettini says her brand derives its revenue from a range of. 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 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. This is why we are less vocal. (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) Leather in particular is a material the brand is paying attention to, in terms of avoiding waste. Facebook gives people. The oldest executive at Kering SA is Baudouin Prot, 69, who is the Director. From left, Ms. Bellettini; Anthony Vaccarello, creative director for Saint Laurent, and Franois-Henri Pinault, chairman and chief executive of Kering. 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. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. At the time Pinault, chairman of parent company Kering, wasopen about his wish that the house reach $1 billion dollars in sales and Bellettini played an integral role in achieving thatgoal. Copyright 2023 Surperformance. It hasn't come without a cost. To receive the Vogue Business newsletter, sign up here. 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 . 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. 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. Saint Laurent CEO Francesca Bellettini's big ambitions Saint Laurent is the new rising star at Kering. 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. Simmenauer adds that the brands handbags in particular are timeless and well priced. of Yves Saint Laurent. Consumers realised it and since the offer was already well-developed, they could find it in stores.. Comments, questions or feedback? 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. 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. He was Ms. Bellettinis only candidate. Reproduce canciones como "Distratto (I Wonder About You) [Acoustic Live Solo]", "Be My Husband (Acoustic Live Solo)" y mucho ms. It wasnt her first time in the line of fire, in any case. 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. Le grand appartement: Dirigido por Pascal Thomas. We support credit card, debit card and PayPal payments. The event ended with this final question: what is the greatest piece of advice you can share to the audience? 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. Standard Digital includes access to a wealth of global news, analysis and expert opinion. 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. Join Facebook to connect with Francesca Bellettini and others you may know. You have to know where you want to go, she said. The chef worked in kitchens for over 20 years before buying The French Laundryand has a secret hack for ordering In-N-Out fries. Ready-to-wear, however, is growing faster at the moment, Bellettini notes, but she adds that the breakdown per category is not meaningful. Got some news on an exceptional woman? As a luxury brand, you secure the best part of the leather. It is Bellettinis commitment to balance in this regard, as much as the brands DNA, that has pushed Saint Laurent to excel in both collections, achieving double-digit growth in a sluggish market. We talk a lot about strategy, where we want to go. It was a very ironic, very playful way to present stilettos and boots, she said. View the profiles of people named Francesca Bellettini. 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. Rebecca Faria, a 29-year-old Brazilian. She has been the chief executive officer of Yves Saint Laurent since 2013. 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. The reality, however, has proven to be very different. personalising content and ads, providing social media features and to It got everyone talking about Saint Laurent again, and also increased brand awareness with a younger audience those future loyal customers the key to brand longevity., As well as it eventually turned out for the brand, at the time few could have predicted the success Saint Laurent would enjoy as a result of the overhaul. Anyone can read what you share. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. She took it to that level within a three-year period.. Eileen Fisher is trying to raise the bar for sustainable fashion. Slimane leaves Saint Laurent, and Anthony Vaccarello is named. We see with the store reopening worldwide, we have a lot of younger customers coming, people in their 20s, buying gifts, etc., she says. 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. offers FT membership to read for free. Francesca Bellettini, chief exec of fast-growing Yves Saint Laurent, says a crucial part of managing a business is balance. We communicate the brand, and Anthony does it in a way thats very relevant, she says. Escucha 'Nice to Meet You (Acoustic Live Solo)' de Francesca Michielin en Apple Music. All Rights Reserved. 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.
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