For more information read our Terms & Conditions and Privacy Policy. 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. From left, Ms. Bellettini; Anthony Vaccarello, creative director for Saint Laurent, and Franois-Henri Pinault, chairman and chief executive of Kering. The brand has had an inflection, according to Morgan Stanley analyst Edouard Aubin, with less black and white and more color, thus catering to a broader audience, he wrote in a note. Already, as soon as Vaccarello arrived, they had made the decision to always wait one year to mark down the current collection. Our Q3 performance in China was very strong, with excellent growth in-store and online. She has been the chief executive officer of Yves Saint Laurent since 2013. Saint Laurent still has white space to open stores, develop in Asia and reinforce cross-selling across product categories, says Ortelli. 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. 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. People from her region have a disarming way of speaking that makes them sound playful even when they are dead serious. Sign In. 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. 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. In 2008, she joined Bottega Veneta and became Worldwide Merchandising and Communications Director in 2010. All rights reserved. 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. In 1999, he offered her a job as part of Pradas then-new business development division. And you have to act as if youre already there., https://www.nytimes.com/2018/02/27/style/francesca-bellettini-yves-saint-laurent-paris.html. Gucci became the first brand to go public, attracting business administrators to the sector. Slimane leaves Saint Laurent, and Anthony Vaccarello is named. 2016 Saint Laurent achieves 26 per cent year-on-year growth. 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. This documentary-style series follows investigative journalists as they uncover the truth. That means you risk having more leftovers. In an exclusive interview with Vogue Business, CEO Francesca Bellettini shares her plans to continue growth while sticking to the brand's DNA. Francesca Bellettini was considered an odd choice for the heritage house but shes led it into the billion-euro club. This has been a big strength during the pandemic, when tourism stopped. In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. It was an anecdote from the early times of her career when she attended a meeting. 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. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Bellettini, a former investment banker, had stints at Prada group and Helmut Lang. 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. Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris. Mr. Vaccarello and Ms. Bellettini have since become soul mates. However, along with creative director Anthony Vaccarello, who she recruited in 2016, Bellettini has steered Saint Laurent to new heights without deviating from the brands DNA. Getty. 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. 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. Another question asked whether it was difficult for Bellettini to take a job in Paris, for a Parisian brand, when not speaking French herself. Francesca Bellettini (born 18 April 1970) is an Italian business woman. 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. At the forefront of this strategy is balance. FORTUNE may receive compensation for some links to products and services on this website. 2023 Fortune Media IP Limited. Ms. Bellettini said that she received a stream of hate emails, including one calling her a whore. Bellettini appointed Anthony Vaccarello as creative director in 2016. 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. Apple said Mr. Deneve would be. But she does believe in learning from mistakes. When she arrived from another Kering brand, Bottega Veneta, in 2013, the. Francesca Bellettini was appointed president andchief executiveof Saint Laurent in July 2013. This is why we invested a lot in training. First of all fashion, in Bellettinis words, can transform you into a dreamer. 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. When he bought himself a honey-colored bulldog puppy at Christmas, he bought one in black for her. Moreover, Bellettini called for everyone to be ambitious but never impatient; experiences take time to be made. When you are at 2 billion, to think of potential at 3 billion is too easy, she says. 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. 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. We communicate the brand, and Anthony does it in a way thats very relevant, she says. And she doesnt speak French. 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. This is to ensure the offer is reflecting the current vision of the brand. 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. Please see our privacy policy for more information. Frances advertising watchdog asked Saint Laurent to modify two ads. That mindset is reflected in what Saint Laurent does as much as what it chooses not to do. Her poise, her elegance, her drive, all with an overwhelming optimism. 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. 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. The companys enviable performance can, in large extent, be attributed to a drastic and unexpected rebranding. Saint Laurent wanted to be a billion-dollar company. A great sales force can make a difference, in terms of proposing a silhouette. 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 . 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. Bellettini holds a degree from Bocconi University in Milan and began her career as an investment banker in London, working for Goldman Sachs, Compass Partners and others. Since 2012, Saint Laurent Paris, formerly known as Yves Saint Laurent, has boasted double-digit year-on-year growth. We focused even more on what we could control, staying focused on the things we could do better, she explains. You will be notified in advance of any changes in rate or terms. All rights reserved. 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. But in one areapublic relationswomen appear to dominate. Their brand offers an escape to people, which during this unparalleled time in our world, is vital. 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. (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) Bellettini recommended her viewers to always be observant of a companys culture before applying for a job. I didnt know Anthony personally, but I thought, He is the only one who can come here and do Saint Laurent, in the way Anthony sees women, she said. 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. Flexibility has been another. (if applicable) for The Wall Street Journal. Secondly, as a brand, YSL has set a clear strategy dedicated to never making compromises and executing meticulously. Cross selling requires more time. . She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. YSL continues to grow that number. 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. 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. Bellettini says her brand derives its revenue from a range of. Consumers realised it and since the offer was already well-developed, they could find it in stores.. It isn't easy. Subhadra Dravida founded Transcell Biologics, a stem cell technology company, in 2009. But the largest companies in Silicon Valley are trying to change that, using virtual sports platforms to drive adoption and profit in this new world. 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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.. Saint Laurent is the second largest Kering house (representing 13 per cent of the group sales) behind Gucci. 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. Bellettini is the kind of person who is goal driven and focusing on pushing forward towards that goal, said McInnes. With the brands new direction firmly established, Bellettini is now focused on the future. You may change or cancel your subscription or trial at any time online. The brand also completely stopped making public markdowns during the pandemic. Le grand appartement: Dirigido por Pascal Thomas. I knew that she had the qualities needed for the job: first, a strong personality and the ability to dedicate herself entirely to her mission without any hesitation; second, the capability to quickly understand what makes this maison so special and to endorse it and indeed, she adapted very quickly to Saint Laurent in a key moment of its history., Mr. Pinault called me to Paris one Friday afternoon, Ms. Bellettini recalled. Her husband, a businessman who has been in her life for 20 years, lives in Milan. Im obsessed with two things: local customers and comp growth, says Bellettini. 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. 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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. 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. The biggest move to bring clarity back was changing the brand name. For me, this is a balance between creativity, merchandising and business, added Bellettini. 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. 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" All rights reserved. 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. 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. Many observers credit Slimane for Saint Laurents recent success. Also, focus: In Paris, Ms. Bellettini lives in an apartment close to the 17th-century htel particulier on the Left Bank that serves as the companys creative core. 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. 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. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. 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. The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. One of the few female CEOs leading a fashion brand, Francesca Bellettini started her career as an investment banker before switching industries. Francesca Bellettini, chief exec of fast-growing Yves Saint Laurent, says a crucial part of managing a business is balance. He and Ms. Bellettini speak to each other in English but sometimes send text messages in Italian. 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. As a luxury brand, you secure the best part of the leather. 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.
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