Offers may be subject to change without notice. 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. This has raised the bar for each and every one of us. 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. By Roza Kovak. Saint Laurent CEO Francesca Bellettini's big ambitions Saint Laurent is the new rising star at Kering. She lets me be totally free. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. Sustainability, another pressing topic for fashion brands to consider alongside growth, is a priority, Bellettini says. 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. At the forefront of this strategy is balance. This is to ensure the offer is reflecting the current vision of the brand. 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. 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. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. 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. 2023 The Business of Fashion. When I had to replace Paul Deneve as C.E.O. She has been the chief executive officer of Yves Saint Laurent since 2013. It earned the brand criticisms. You will be notified in advance of any changes in rate or terms. Flexibility has been another. 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. Do whatever you like. She took the job. Already a member? 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. It is only then can we find long-term joy and success. In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. Saint Laurent wanted to be a billion-dollar company. A record number of women made Britains rich list, Yves Saint Laurents chief exec talks about managing a successful fashion business, and in one area of Silicon Valley, women rule. But she did not pull the ads. Sign up to our newsletter for a truly global perspective on the fashion industry. 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. 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. Getty. We support credit card, debit card and PayPal payments. 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. Why? 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.. How Saint Laurent Became a $3 Billion Powerhouse. Bellettini took it to that level within a three-year period. Anthony Vaccarello has nearly finished giving a tour of the just-opened 140,000-square-foot headquarters of fashion house Yves Saint Laurent in a tony corner of Pariss seventh arrondissement when, heading toward the exit, he says hes saved his favorite part for last. organisation 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. 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. 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. Since 2012, Saint Laurent Paris, formerly known as Yves Saint Laurent, has boasted double-digit year-on-year growth. Good morning, WMPW readers! 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. Francesca Bellettini has achieved the impossible with Saint Laurent. It isn't easy. The fired Google engineer who thought its A.I. Bloody hell!. It was drastic, said McInnes. People from her region have a disarming way of speaking that makes them sound playful even when they are dead serious. Twenty-nine years old is a little early to do a job for money. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. Bellettini put a significant value on company culture. 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. 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. Indeed, Bellettinis commitment to a balanced approach has made Saint Laurent the star of parent company Kerings vast portfolio of luxury brands. During tumultuous economic periods, purse strings are naturally tightened and non-essential purchases are forgone, including luxuries. Francesca Bellettini is also on the board of Technogym SpA, Yves Saint Laurent UK Ltd. and Ferrari NV. personalising content and ads, providing social media features and to Bellettini is a remarkable woman. Having crossed the $1 billion in sales threshold in 2017, the brand isa star performer in parent companyKerings luxury portfolio. Miller, who was born in Guyana, says,"I believe that level of abuse means I am doing something right for investors.". of Yves Saint Laurent. 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. Comments, questions or feedback? Cross selling requires more time. Im obsessed with two things: local customers and comp growth, says Bellettini. In 2019 she was awarded the FrenchKnight of the Legion of Honour, the highest possible distinction for a civilian in the country. For a full comparison of Standard and Premium Digital, click here. , who was succeeded by Anthony Vacarello in April 2016. In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. 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. 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. Still, she acknowledged, It is sometimes true you dont consider the circumstances in which things happen.. The news sent shockwaves through the industry, with many interpreting the change as a sign of disrespect to the companys founder and namesake. She was appointed president and CEO of Yves Saint Laurent in 2013. FORTUNE may receive compensation for some links to products and services on this website. First of all fashion, in Bellettinis words, can transform you into a dreamer. ", The priority is to make sure the leather I use is sourced correctly. 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" 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. 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. Reproduce canciones como "Distratto (I Wonder About You) [Acoustic Live Solo]", "Be My Husband (Acoustic Live Solo)" y mucho ms. Its part of the DNA of the brand, Bellettini told Business of Fashion (BoF) in an April 2016 interview. 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.. 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. Bellettini also believes that no job is a waste of time, even if we have to deal with bosses that we do not like. 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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. 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. All rights reserved. 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. 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 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. 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. A great sales force can make a difference, in terms of proposing a silhouette. 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. It makes us simpatico. The worst thing you can do with your teams is to create a culture of fear.. PARIS The Vogue Paris Fashion Festival gathered industry voices from heritage brands to startups; traditional retail to digital; casting agents to supermodels. 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. In 2013, she became President and Chief Executive Officer of Yves Saint Laurent. This is why we invested a lot in training. Simply log into Settings & Account and select "Cancel" on the right-hand side. 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. 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 . 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. Bellettini recommended her viewers to always be observant of a companys culture before applying for a job. Nonetheless, the brand attracts luxurys coveted younger consumers. This massage technique is attracting fans across Hollywood, including Ariana Grande, Kourtney Kardashian and Sean Diddy Combs. 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. In 2008, she joined Bottega Veneta and became Worldwide Merchandising and Communications Director in 2010. We dont do it to sell an extra bag. PARIS Francesca Bellettini doesnt style her hair. 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. Search instead in Creative? Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. 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In a second, I said, Yes! Then I said, You know I dont speak French, right? and he said, I know that. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. After graduating from high school, Bellettini had two plans. The event ended with this final question: what is the greatest piece of advice you can share to the audience? 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. 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. The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. It helps that were open, that we tend to smile, that we have this funny accent, she said, smiling. 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 was a further step, she says. 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. Anyone can read what you share. This is made possible through a leadership style that is confident, but trusting. In an exclusive interview with Vogue Business, CEO Francesca Bellettini shares her plans to continue growth while sticking to the brand's DNA. 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. Escucha 'Nice to Meet You (Acoustic Live Solo)' de Francesca Michielin en Apple Music. We see with the store reopening worldwide, we have a lot of younger customers coming, people in their 20s, buying gifts, etc., she says. 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. 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. When describing why she chose Goldman Sachs International over other companies, she said that the company felt like a family. Investing veterans Deborah Jackson and Andrea Turner Moffitt connectfemale entrepreneurs with investors in a creative way with their firm, Plum Alley Investments. Getty. The biggest move to bring clarity back was changing the brand name. Thats when Mr. Pinault noticed her. Compare Standard and Premium Digital here. One of the few female CEOs leading a fashion brand, Francesca Bellettini started her career as an investment banker before switching industries. 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.

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