Definitely the sensitivity of people and their ability to speak out is much bigger than before, she said. 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. 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. or 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. Facebook gives people. Ending with a hopefulness to participate the next time Brown University Fashion Week takes place in person, Bellettini left us in awe. By Roza Kovak. Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers. 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. A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. California Weighs $360,000 in Reparations to Eligible Black Residents. 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. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Showing Editorial results for francesca le. You may cancel your subscription at anytime by calling Continuity candidate Chief Executive Officer, Yves Saint Laurent at Kering - View - Kering org chart. 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. My Lover, My Son: Dirigido por John Newland. Francesca Le Photos and Premium High Res Pictures - Getty Images Already a member? Board of Directors | Ferrari Corporate 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. 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 . When I met him, I was incredibly impressed that he was not at all afraid of the challenge. 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. Email us at [email protected]. Having crossed the $1 billion in sales threshold in 2017, the brand isa star performer in parent companyKerings luxury portfolio. The oldest executive at Kering SA is Baudouin Prot, 69, who is the Director. 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. You may change your billing preferences at any time in the Customer Center or call Bellettini also believes that no job is a waste of time, even if we have to deal with bosses that we do not like. Hear the latest economic, business and market news, as well as global, national, and local news. But is it bad? 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. 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. Sales have just hit the 1.5 billion mark; her ultimate goal is to double it. 2023 The Business of Fashion. Saint Laurent CEO Francesca Bellettini's big ambitions Saint Laurent is the new rising star at Kering. Francesca was Worldwide Merchandising and Communications director at Bottega Veneta, and Strategic Planning & Associate Worldwide Merchandising Director at Gucci. Apple said Mr. Deneve would be. 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. Elon Musks Twitter is dying a slow and tedious death, Who to fire? There are 12 older and 7 younger executives at Kering SA. 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. Bellettini, a former investment banker, had stints at Prada group and Helmut Lang. Smaller categories such as silk, jewellery and eyewear are also booming, contributing to growth. 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. We are delighted that you'd like to resume your subscription. Together they weathered a storm of public opprobrium last March, when Frances advertising watchdog asked Saint Laurent to modify two ads created by Mr. Vaccarello after receiving dozens of complaints that they degraded women. Mr. Vaccarello and Ms. Bellettini have since become soul mates. (Bellettini has been opening an average of 20 new stores per year globally.). 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. 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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.. 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. Working with her is enriching, Mr. Vaccarello said. She is determined never to panic or bow to public pressure out of fear. The luxury house is known for its formalwear and sharp tailoring. 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. Rebecca Faria, a 29-year-old Brazilian. Francesca Bellettini is also on the board of Technogym SpA, Yves Saint Laurent UK Ltd. and Ferrari NV. Still, she acknowledged, It is sometimes true you dont consider the circumstances in which things happen.. Notable for Saint Laurent under Bellettini is its leather business. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. You have to know where you want to go, she said. 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. 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. 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. The company has a remarkably even worldwide geographical coverage in terms of stores and customers. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. The Saint Laurent head office is based on Rue de Bellechasse in Paris. We dont do it to sell an extra bag. At a time when fashion is all about body positivity, Saint Laurent put thin models on the catwalk of its recent show. 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. Francesca Root-Dodson on Instagram: "Thrilled to be part of this "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. As an Italian national, Bellettini grew up loving fashion and beauty, noting how her hometown, an influential street fashion hub, was inspiring. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. (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. It hasn't come without a cost. After graduating from high school, Bellettini had two plans. 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. Some white space to reach its new target. 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. 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. FORTUNE may receive compensation for some links to products and services on this website. 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. Will Others Follow? She sure is a powerhouse woman running a billion-dollar brand. First of all fashion, in Bellettinis words, can transform you into a dreamer. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. Bellettinis first major decision as CEO was to give Slimane more autonomy in deciding the labels creative direction a move that would firmly establish Saint Laurent as a refreshed brand, while also marking Bellettinis preference for allowing people the freedom to do what they do best. To win local customers, Saint Laurent invested in sales staff training. One question asked Bellettini what she most enjoyed about her job. 2023 Fortune Media IP Limited. We focused even more on what we could control, staying focused on the things we could do better, she explains. 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. Twenty-nine years old is a little early to do a job for money. In 2008, she joined Bottega Veneta and became Worldwide Merchandising and Communications Director in 2010. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. Miller, who was born in Guyana, says,"I believe that level of abuse means I am doing something right for investors.". It was brilliant from a marketing standpoint. 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. 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. In 2019 she was awarded the FrenchKnight of the Legion of Honour, the highest possible distinction for a civilian in the country. (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) Francesca Bellettini CEO Saint Laurent Future After Hedi Slimane It was this confidence that led her to choose Mr. Vaccarello, 38, to replace Mr. Slimane, the designer who turned around the struggling Saint Laurent while changing the name of its ready-to-wear line, its store dcor, ad campaigns and every product. Power Moves | Francesca Bellettini Named CEO of Yves Saint Laurent 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. 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. 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. Now, we have arrived at a level of quality that is so high that we can use them for trimmings of some products. 2013 - Present, 2008 - 2013, Buying & Merchandising Director, Selfridges, Creative Director, Tom Ford & Chairman, CFDA, Former Chairman & Chief Executive, Yoox Net-a-Porter Group. Terms & Conditions. 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. Thanks to the law of 1948 and to her grandmother, the nominal tenant who is always absent, Francesca Cigalone and all her tribe (thoughtless husband, orphan sister, self-centered film maker and his mistress of the day, eccentric granny, friends, friends of the friends . He was required to sign a confidentiality agreement. Frances advertising watchdog asked Saint Laurent to modify two ads. 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. In 2013, she became President and Chief Executive Officer of Yves Saint Laurent. The Italian executive, who took over the Kering -owned brand in 2013 and has since overseen a tripling of its sales, was joined by family, colleagues and members of the Saint Laurent galaxy at the. 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. 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. Secondly, as a brand, YSL has set a clear strategy dedicated to never making compromises and executing meticulously. Nowadays, I see that the consumer approaches Saint Laurent from every product category depending on what they want, said Bellettini to BoF. 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. 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. Gucci became the first brand to go public, attracting business administrators to the sector. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris. Sustainability, another pressing topic for fashion brands to consider alongside growth, is a priority, Bellettini says. Good morning, WMPW readers! 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. Her obsession is paying off. Consumers realised it and since the offer was already well-developed, they could find it in stores.. Part of establishing Saint Laurents new image has been a focus on permanent collections. Our duty is to know what's going on in the supply chain and control it in the best possible way. 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. That mindset is reflected in what Saint Laurent does as much as what it chooses not to do. 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. It isn't easy. Sometimes if you look at one part, you lose the full picture, she says. 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 Alex Murdaugh Receives Life Sentence: What Happens Now? In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. Another question asked whether it was difficult for Bellettini to take a job in Paris, for a Parisian brand, when not speaking French herself. The ad campaign had almost run its course, and Saint Laurent did not respond to the criticism. Why is Anthonys ready-to-wear always pictured in the magazines with our bags and shoes? 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. Impressively, the executive has maintained the house's upward trajectorydespitethe departure of its star creative director Customer Service. The event ended with this final question: what is the greatest piece of advice you can share to the audience? 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. She doesnt wear hose even in the dead of winter. You can still enjoy your subscription until the end of your current billing period. Please see our privacy policy for more information. But she does believe in learning from mistakes. The biggest move to bring clarity back was changing the brand name. The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. Painted black lacquer with gleaming white markers, its more appropriate for an upscale bondage club than a place to stash the companys off-duty town cars. offers FT membership to read for free. 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. How Saint Laurent Became a $3 Billion Powerhouse. Well keep working on it because for me, the journey in sustainability is never finished. 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. Showing Editorial results for francesca bellettini. They are reluctant to be targeted.. 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. She was a villain, then an icon. He and Ms. Bellettini speak to each other in English but sometimes send text messages in Italian. Mr. Vaccarello and Ms. Bellettini have since become soul mates. During tumultuous economic periods, purse strings are naturally tightened and non-essential purchases are forgone, including luxuries. Her father, whom she adored, was an accountant at a lumber company; her mother, a school administrator. 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. Non-Executive Director at Ferrari - View - Ferrari org chart. Francesca Bellettini, Yves St Laurent SA: Profile and Biography Exclusive: Step Inside YSL's New Parisian Headquarters - WSJ We are the only French couture house to be relevant in both menswear and womenswear. 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. The news sent shockwaves through the industry, with many interpreting the change as a sign of disrespect to the companys founder and namesake. Have a good Tuesday! Enduring look Saint Laurent is the second largest Kering house (representing 13 per cent of the group sales) behind Gucci. 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. All Rights Reserved. She took it to that level within a three-year period.. 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. Saint Laurent CEO Francesca Bellettini on the making of a $1bn brand CEO Talks: Francesca Bellettini on Saint Laurent's Next Big Goal It was a very ironic, very playful way to present stilettos and boots, she said. 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. A University of East Anglia researcher, Helen Bear, is developing technology to enable computers to read lips. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. Saint Laurent was the star of the Kering Groups most recent earnings publications. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. Valerio Mezzanotti for The New York Times. She is resolved to stay true to the brands DNA while pushing to capture new customers and enter new markets. Ms. Bellettini said that she received a stream of hate emails, including one calling her a whore. (For example, we would never do gaming simply because its something Generation Z is into.