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Smaller categories such as silk, jewellery and eyewear are also booming, contributing to growth. She worked at Prada and Helmut Lang prior to. 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. 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. Bellettini joined YSL during a crucial time in its development. Many observers credit Slimane for Saint Laurents recent success. 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. During tumultuous economic periods, purse strings are naturally tightened and non-essential purchases are forgone, including luxuries. That, to me, has been what makes her such a wonderful CEO, especially in a creative field like fashion, said McInnes. Plan A was to study Business Administration at Bocconi University and follow her dream of running a company. Despite a heavy workload and "massive" pressure, she said she feels secure in her career. (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) We communicate the brand, and Anthony does it in a way thats very relevant, she says. Customer Service. 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. Moderated by Emma . This was a further step, she says. Hedi Slimane She was a villain, then an icon. With the house on track to end 2021 with sales over 2 billion, CEO Francesca Bellettini believes the brand can rise even further. 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. 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. Fashion has never been so competitive. He gives you autonomy within a framework., Ms. Bellettini relied on her Italian identity to navigate the alien culture of Paris. Le grand appartement: Dirigido por Pascal Thomas. Bloody hell!. Since 2012, Saint Laurent Paris, formerly known as Yves Saint Laurent, has boasted double-digit year-on-year growth. Francesca Bellettini has achieved the impossible with Saint Laurent. 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. 25 April 2016. FRANCESCA BELLETTINI. Bellettini appointed Anthony Vaccarello as creative director in 2016. 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. One of the few female CEOs leading a fashion brand, Francesca Bellettini started her career as an investment banker before switching industries. Saint Laurent opened its first flagship in China in 2019 and the network is being expanded in the country. 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. 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]." 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. Saint Laurent CEO Francesca Bellettini's big ambitions Saint Laurent is the new rising star at Kering. 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. 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. People from her region have a disarming way of speaking that makes them sound playful even when they are dead serious. Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers. This is why we invested a lot in training. This inspired Bellettini to, in 1999, join the Business Planning and Development division of the Prada group. 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. Have a good Tuesday! A University of East Anglia researcher, Helen Bear, is developing technology to enable computers to read lips. Her husband, a businessman who has been in her life for 20 years, lives in Milan. 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. This documentary-style series follows investigative journalists as they uncover the truth. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. Frances advertising watchdog asked Saint Laurent to modify two ads. Over the last few years, this has hit high-end brands hard. 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. All rights reserved. According to the fashion house's CEO, Francesca Bellettini, the Vaccarello era at the fashion house will be a . 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. Rebecca Faria, a 29-year-old Brazilian. 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. PARIS Francesca Bellettini is riding high.. It is only then can we find long-term joy and success. 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. You have to know where you want to go, she said. 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 . Apple said Mr. Deneve would be. Nonetheless, the brand attracts luxurys coveted younger consumers. Check if your When I met him, I was incredibly impressed that he was not at all afraid of the challenge. She was appointed president and CEO of Yves Saint Laurent in 2013. 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 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. 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. 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. Their brand offers an escape to people, which during this unparalleled time in our world, is vital. When describing why she chose Goldman Sachs International over other companies, she said that the company felt like a family. 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. Definitely the sensitivity of people and their ability to speak out is much bigger than before, she said. For cost savings, you can change your plan at any time online in the Settings & Account section. Mr. Vaccarello and Ms. Bellettini have since become soul mates. 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. She was there to review a collection for the upcoming season. The event ended with this final question: what is the greatest piece of advice you can share to the audience? 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. A brand without clarity, at the end of the day, becomes just a commodity, said Bellettini at the Financial Times Business of Luxury conference in 2016. Standard Digital includes access to a wealth of global news, analysis and expert opinion. "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. Its not a problem. , Mr. Pinault set a broad strategic vision and gave her flexibility and freedom in reaching the goals. My Lover, My Son: Dirigido por John Newland. International Womens Day happened to coincide with the campaign. Nowadays, I see that the consumer approaches Saint Laurent from every product category depending on what they want, said Bellettini to BoF. Do whatever you like. She took the job. 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. Mr. Vaccarello and Ms. Bellettini have since become soul mates. 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. Francesca was Worldwide Merchandising and Communications director at Bottega Veneta, and Strategic Planning & Associate Worldwide Merchandising Director at Gucci. Ending with a hopefulness to participate the next time Brown University Fashion Week takes place in person, Bellettini left us in awe. 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. In 2008, she joined Bottega Veneta and became Worldwide Merchandising and Communications Director in 2010. When I had to replace Paul Deneve as C.E.O. Hear the latest economic, business and market news, as well as global, national, and local news. When she arrived from another Kering brand, Bottega Veneta, in 2013, the. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Bellettini says her brand derives its revenue from a range of. Facebook gives people. This business model is something Bellettini argues helps the brand to get back to its core essence as a fashion house. Her father, whom she adored, was an accountant at a lumber company; her mother, a school administrator. Comments, questions or feedback? 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. In the past we would use it to do flooring of the warehouses. 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.. . California Weighs $360,000 in Reparations to Eligible Black Residents. Simply log into Settings & Account and select "Cancel" on the right-hand side. 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. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. She lets me be totally free. Nevertheless, Bellettinis success was not easy to achieve. First its for the people of the industry and then its for the people that look at the industry. In his new novel, Tracy Flick Cant Win, author Tom Perrotta asks: Who is Tracy Flick now? While she was working as an investment banker, the fashion industry was flourishing. Renaming a world-famous brand is never advisable. Saint Laurent wanted to be a billion-dollar company. 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. 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. And they certainly didnt know her. We are delighted that you'd like to resume your subscription. Still, she acknowledged, It is sometimes true you dont consider the circumstances in which things happen.. Inside out Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. Ms. Bellettini said that she received a stream of hate emails, including one calling her a whore. 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. Bellettini, a former investment banker, had stints at Prada group and Helmut Lang. Consumers realised it and since the offer was already well-developed, they could find it in stores.. The biggest move to bring clarity back was changing the brand name. 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. It was pissing me off a little bit, she said. Email us at [email protected]. Twenty-nine years old is a little early to do a job for money. He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking. 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. Slimane leaves Saint Laurent, and Anthony Vaccarello is named. Today, the collections may not be identical, but the fact equal importance is placed on menswear and womenswear is something quite uncommon in the world of high fashion. She turned to her father for guidance. It makes us simpatico. The worst thing you can do with your teams is to create a culture of fear.. She took it to that level within a three-year period.. 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 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. personalising content and ads, providing social media features and to 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. 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. She joined the famous Parisian house, replacing Paul Deneuve, at a crucial time in its development. One question asked Bellettini what she most enjoyed about her job. Impressively, the executive has maintained the house's upward trajectorydespitethe departure of its star creative director 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. of Yves Saint Laurent. 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. 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. 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. 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. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. The enshittification of apps is real. In the luxury group's2018 full-year results, Saint Laurent reached sales1.74 billion, a 16.1 percent increase in reported growth. 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. The decision was to invest. 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. As her son is somehow part of her dead lover, she falls in love with him and tries to seduce him, but he has a girlfriend named Julie. What did they know? This is to ensure the offer is reflecting the current vision of the brand. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Saint Laurent still has white space to open stores, develop in Asia and reinforce cross-selling across product categories, says Ortelli. And she doesnt speak French. 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. She joined Kering in 2003 as Strategic Planning Director and Associate Worldwide Merchandising Director of Gucci. 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. As an Italian national, Bellettini grew up loving fashion and beauty, noting how her hometown, an influential street fashion hub, was inspiring. of Saint Laurent, she was the first name on my list, Mr. Pinault said. Under CEO Francesca Bellettini and designer Anthony Vaccarello, Saint Laurent has more than doubled sales in 5 years and is on track to surpass $3 billion in 2022. Indeed, Bellettinis commitment to a balanced approach has made Saint Laurent the star of parent company Kerings vast portfolio of luxury brands. For me, this is a balance between creativity, merchandising and business, added Bellettini. The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. 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. Bellettini took it to that level within a three-year period. As a subscriber, you have 10 gift articles to give each month. Bellettini has achieved this global reach through a keen focus on developing local markets. YSL continues to grow that number. A great sales force can make a difference, in terms of proposing a silhouette. 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. Its a cascade. (In the third quarter, sales were up 28.1 per cent, while Kering sales were up 12.2 per cent) In 2020, when the pandemic hit, sales were down 13.8 percent while Kering sales were down 16.4 percent. 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. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. Sexy concepts 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. This is why we are less vocal. Yet, this also meant that they could not hire more people either. Search instead in Creative? Francesca Bellettini joined Kering in 2013. 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. 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 . Around 60 per cent of Saint Laurent's clients were locals in 2020, according to Morgan Stanleys estimates. Flexibility has been another. analyse how our Sites are used. President and Chief Executive Officer, Yves Saint Laurent. Offers may be subject to change without notice. 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. The scientific advance could aid people with recent hearing loss. Working with her is enriching, Mr. Vaccarello said. To receive the Vogue Business newsletter, sign up here. 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. 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 priority is to make sure the leather I use is sourced correctly. Miller, who was born in Guyana, says,"I believe that level of abuse means I am doing something right for investors.". The Saint Laurent head office is based on Rue de Bellechasse in Paris. But she does believe in learning from mistakes. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. All Rights Reserved. Kering's third-quarter earnings presentation mentions a continued appeal to younger generations. 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. The only time that there is more women on the set as extras is a swimming pool scene and they're all in bikinisany swimming pool scene and suddenly it's full of women. Bellettini encouraged everyone to always be curious.