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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. 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 . analyse how our Sites are used. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. 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. 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. Hedi Slimane Now, we have arrived at a level of quality that is so high that we can use them for trimmings of some products. Already a member? You can unsubscribe at any time. One of the few female CEOs leading a fashion brand, Francesca Bellettini started her career as an investment banker before switching industries. 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. Francesca Bellettini (born 18 April 1970) is an Italian business woman. Frances advertising watchdog asked Saint Laurent to modify two ads. Reproduce canciones como "Distratto (I Wonder About You) [Acoustic Live Solo]", "Be My Husband (Acoustic Live Solo)" y mucho ms. In 2013, she became President and Chief Executive Officer of Yves Saint Laurent. 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. Yet five years later, Kering, the Paris-based luxury group that owns Saint Laurent, Gucci and Bottega Veneta, among other brands, reported that 2017 was its most profitable year on record; YSL announced a 25.3 percent increase in revenue over 2016, the second-largest growth in the group, following Gucci. After graduating from high school, Bellettini had two plans. We support credit card, debit card and PayPal payments. 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. He and Ms. Bellettini speak to each other in English but sometimes send text messages in Italian. Lauren Sherman. Chief Executive Officer, Yves Saint Laurent at Kering - View - Kering org chart. They are reluctant to be targeted.. 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. 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. He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking Italian. Many observers credit Slimane for Saint Laurents recent success. Simmenauer adds that the brands handbags in particular are timeless and well priced. Notable for Saint Laurent under Bellettini is its leather business. 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. 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. As a subscriber, you have 10 gift articles to give each month. Sales have just hit the 1.5 billion mark; her ultimate goal is to double it. This inspired Bellettini to, in 1999, join the Business Planning and Development division of the Prada group. Its part of the DNA of the brand, Bellettini told Business of Fashion (BoF) in an April 2016 interview. Bellettini joined YSL during a crucial time in its development. FRANCESCA BELLETTINI. 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. After an internal study of YSL, Ms. Bellettini concluded that the company either had to invest substantially and spark growth or begin dismantling operations and shrink to half its size. 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. Bloody hell!. 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. He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking. First its for the people of the industry and then its for the people that look at the industry. Already, as soon as Vaccarello arrived, they had made the decision to always wait one year to mark down the current collection. 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. Saint Laurent wanted to be a billion-dollar company. Right now, Bellettini is actively trying to learn French with the goal of becoming an Okay French speaker by the end of 2021. Over the last few years, this has hit high-end brands hard. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. 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. She was there to review a collection for the upcoming season. 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. 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. She joined the famous Parisian house, replacing Paul Deneuve, at a crucial time in its development. 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 . Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. Bellettini noted how, guided by YSLs commitment to its team, they managed to not fire anyone during the COVID-19 pandemic. Balance is also evident in Saint Laurents approach to its clientele and distribution. 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. FORTUNE may receive compensation for some links to products and services on this website. Rebecca Faria, a 29-year-old Brazilian. In 2019 she was awarded the French Knight of the Legion of Honour, the highest possible distinction for a civilian in the country. But when BoF founder and editor-in-chief Imran Amed asked Bellettini what she . university Their brand offers an escape to people, which during this unparalleled time in our world, is vital. 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. 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. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. In 2008, she joined Bottega Veneta and became Worldwide Merchandising and Communications Director in 2010. By Roza Kovak. 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. Moderated by Emma . For a full comparison of Standard and Premium Digital, click here. Ready-to-wear, however, is growing faster at the moment, Bellettini notes, but she adds that the breakdown per category is not meaningful. Bellettini has achieved this global reach through a keen focus on developing local markets. 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. and other data for a number of reasons, such as keeping FT Sites reliable and secure, 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. Creative director Hedi Slimane left to take the reins of Celine and she recruited Vaccarello to succeed him. 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. But I dont have to do something to please someone or some client.. You need to take a position sometimes, and you also need to give consumers things they dont even know that they want.. All Rights Reserved. Gucci became the first brand to go public, attracting business administrators to the sector. A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. Mr Saint Laurent himself said in the 70s: Why should we change a product when its already perfect? So, those people who were criticising the fact that some of our products were recurring and that we had a permanent collection probably didnt remember that it was actually part of the DNA of the brand, Bellettini told BoF. Why? PARIS Francesca Bellettini is riding high.. She climbed the ladder at Kering starting in 2003, when she joined as strategic planning director and associate worldwide merchandising director of Gucci. 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. 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. All rights reserved. offers FT membership to read for free. Eileen Fisher is trying to raise the bar for sustainable fashion. The company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. 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. Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. . Powered and implemented by Interactive Data Managed Solutions. 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. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. 29 November 2018. We would do it only if its coherent with the aesthetic of the brand, if it makes sense with the vision of Anthony, notes Bellettini.) Comments, questions or feedback? Similarly, all e-tailers moved from a wholesale model to e-concessions (except for the websites of some US department stores, where Saint Laurent is still sold wholesale). 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. 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Plan A was to study Business Administration at Bocconi University and follow her dream of running a company. 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. Definitely the sensitivity of people and their ability to speak out is much bigger than before, she said. Simply log into Settings & Account and select "Cancel" on the right-hand side. She was appointed president and CEO of Yves Saint Laurent in 2013. PARIS The Vogue Paris Fashion Festival gathered industry voices from heritage brands to startups; traditional retail to digital; casting agents to supermodels. 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. For cost savings, you can change your plan at any time online in the Settings & Account section. Getty. Facebook gives people. (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. Premium access for businesses and educational institutions. She lets me be totally free. 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.. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. Good morning, WMPW readers! 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. 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. Alex Murdaugh Receives Life Sentence: What Happens Now? You have to know where you want to go, she said. Francesca Bellettini joined Kering in 2013. The event ended with this final question: what is the greatest piece of advice you can share to the audience? 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. If I can be honest, I dont think that today that campaign would even be shot.. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris.CreditMarco Cella for The New York Times. 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. Check if your When he bought himself a honey-colored bulldog puppy at Christmas, he bought one in black for her. 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. Anyone can read what you share. Bellettini, a former investment banker, had stints at Prada group and Helmut Lang. 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. Well, it turned out they didnt know much. The fired Google engineer who thought its A.I. 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. 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]." 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. cookies 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. In 1999, he offered her a job as part of Pradas then-new business development division. At present, 15 percent of Saint Laurents global customer base is in Europe, 20 percent is in China, 15 percent is in Japan, 20 percent is in the rest of Asia, and 17 percent is in the US, with the remainder spread throughout the rest of the world. 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. , who was succeeded by Anthony Vacarello in April 2016. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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 . Their go-to expert? Part of establishing Saint Laurents new image has been a focus on permanent collections. Francesca Bellettini (FB): Saint Laurent's retail performances in China absolutely surpassed the pre-COVID-19 situation, boosted by Chinese consumers buying locally.