Twenty-nine years old is a little early to do a job for money. Around 60 per cent of Saint Laurent's clients were locals in 2020, according to Morgan Stanleys estimates. Cross selling requires more time. Ms. Bellettini said that she received a stream of hate emails, including one calling her a whore. 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. Certainly, Bellettini deserves to be recognised as one of the most influential leaders in fashion today. 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. When describing why she chose Goldman Sachs International over other companies, she said that the company felt like a family. Saint Laurent was the star of the Kering Groups most recent earnings publications. Their go-to expert? In 2019 she was awarded the French Knight of the Legion of Honour, the highest possible distinction for a civilian in the country. If I can be honest, I dont think that today that campaign would even be shot.. 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. She lets me be totally free. Smaller categories such as silk, jewellery and eyewear are also booming, contributing to growth. The Saint Laurent head office is based on Rue de Bellechasse in Paris. The decision was to invest. This is to ensure the offer is reflecting the current vision of the brand. It earned the brand criticisms. personalising content and ads, providing social media features and to One question asked Bellettini what she most enjoyed about her job. It isn't easy. By Roza Kovak. 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. What did they know? With the house on track to end 2021 with sales over 2 billion, CEO Francesca Bellettini believes the brand can rise even further. 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 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. Customer Service. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. Sign In. 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. The company has a remarkably even worldwide geographical coverage in terms of stores and customers. Ending with a hopefulness to participate the next time Brown University Fashion Week takes place in person, Bellettini left us in awe. 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. But I dont have to do something to please someone or some client.. Bellettini also shared how she still does not speak French. Nowadays, I see that the consumer approaches Saint Laurent from every product category depending on what they want, said Bellettini to BoF. Have a good Tuesday! When he bought himself a honey-colored bulldog puppy at Christmas, he bought one in black for her. Lauren Sherman. First of all fashion, in Bellettinis words, can transform you into a dreamer. PARIS Francesca Bellettini is riding high.. Two Days Mattered Most. 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. Hedi Slimane The reality, however, has proven to be very different. With the brands new direction firmly established, Bellettini is now focused on the future. When she saw an article of clothing she really liked, she could not hold herself from saying I really liked that, without thinking about what her comments impact could be. Showing Editorial results for francesca le. Why is Anthonys ready-to-wear always pictured in the magazines with our bags and shoes? Its one thing to have a strong brand and brand messaging, but that is lost within itself if it isnt carried throughout every level of the business, McInnes explained. The biggest move to bring clarity back was changing the brand name. offers FT membership to read for free. The ad campaign had almost run its course, and Saint Laurent did not respond to the criticism. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. Simply log into Settings & Account and select "Cancel" on the right-hand side. This massage technique is attracting fans across Hollywood, including Ariana Grande, Kourtney Kardashian and Sean Diddy Combs. Bellettini encouraged everyone to always be curious. That means you risk having more leftovers. Im obsessed with two things: local customers and comp growth, says Bellettini. Subhadra Dravida founded Transcell Biologics, a stem cell technology company, in 2009. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. Investing veterans Deborah Jackson and Andrea Turner Moffitt connectfemale entrepreneurs with investors in a creative way with their firm, Plum Alley Investments. Francesca Bellettini has achieved the impossible with Saint Laurent. But she does believe in learning from mistakes. 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. Comedienne Amy Schumer makes the cover of Vanity Fair, Trump supporters sell 'Trump That Bitch' t-shirts depicting Hillary Clinton as the businessman candidatestruggles to attract female voters, Women will grace 5 pound and 10 pound notes in Scotland, Howa woman rose to senior product manager from customer support at Etsy, Fire departments in the U.S. turn to women volunteers, Designer Christine Kendall sues Alexander McQueen over Duchess of Cambridge's wedding dress, actress Helen Mirren, reflecting on a lack of roles for women in movies. He and Ms. Bellettini speak to each other in English but sometimes send text messages in Italian. He never frightens you, she said. For cost savings, you can change your plan at any time online in the Settings & Account section. 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. Moderated by Emma . But in one areapublic relationswomen appear to dominate. Daniel Lee's surprise exit from Bottega Veneta, The Long View by Vogue Business: The fashion CEOs take on resale, LVMH fashion sales climb despite concerns in China, Saint Laurent is the new rising star at Kering. Continuity candidate 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. FORTUNE may receive compensation for some links to products and services on this website. Alex Murdaughs Trial Lasted Six Weeks. Its a cascade. 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. Miller, who was born in Guyana, says,"I believe that level of abuse means I am doing something right for investors.". We dont do it to sell an extra bag. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. 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. Already a member? Gucci became the first brand to go public, attracting business administrators to the sector. Saint Laurent wanted to be a billion-dollar company. Leather in particular is a material the brand is paying attention to, in terms of avoiding waste. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. 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. He was required to sign a confidentiality agreement. Please see our privacy policy for more information. You will be charged Well keep working on it because for me, the journey in sustainability is never finished. Mr. Vaccarello and Ms. Bellettini have since become soul mates. How Saint Laurent Became a $3 Billion Powerhouse. 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. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. Its part of the DNA of the brand, Bellettini told Business of Fashion (BoF) in an April 2016 interview. 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. She established a company culture that fosters creativity, authenticity and agility, driving the consistent dynamism of the House and ensuring an outstanding and sustained growth trajectory, built on solid foundations. 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 helps that were open, that we tend to smile, that we have this funny accent, she said, smiling. 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. This has been a big strength during the pandemic, when tourism stopped. Showing Editorial results for francesca bellettini. This business model is something Bellettini argues helps the brand to get back to its core essence as a fashion house. The biggest move to bring clarity back was changing the brand name. 2013 - Present, 2008 - 2013, Buying & Merchandising Director, Selfridges, Creative Director, Tom Ford & Chairman, CFDA, Former Chairman & Chief Executive, Yoox Net-a-Porter Group. Reach out to me, at: laura.cohn@gmail.com or @laurascohn. He was Ms. Bellettinis only candidate. The scientific advance could aid people with recent hearing loss. It was a very ironic, very playful way to present stilettos and boots, she said. Francesca Anderson, the rich wife of an older millionaire, can't cope with the death of her lover, who is the father of her only son, James. 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 . 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. 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. or Do whatever you like. She took the job. Frances advertising watchdog asked Saint Laurent to modify two ads. As a luxury brand, you secure the best part of the leather. When you are at 2 billion, to think of potential at 3 billion is too easy, she says. Despite a heavy workload and "massive" pressure, she said she feels secure in her career. , who was succeeded by Anthony Vacarello in April 2016. Kering's third-quarter earnings presentation mentions a continued appeal to younger generations. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. 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.. In 2008, she joined Bottega Veneta and became Worldwide Merchandising and Communications Director in 2010. Check if your PARIS The Vogue Paris Fashion Festival gathered industry voices from heritage brands to startups; traditional retail to digital; casting agents to supermodels. This generation doesnt appreciate being considered a target. Well, it turned out they didnt know much. That, to me, has been what makes her such a wonderful CEO, especially in a creative field like fashion, said McInnes. 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. She has been the chief executive officer of Yves Saint Laurent since 2013. Its not a problem. , Mr. Pinault set a broad strategic vision and gave her flexibility and freedom in reaching the goals. 29 November 2018. It was an anecdote from the early times of her career when she attended a meeting. 2023 Fortune Media IP Limited. 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. 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. Good morning, WMPW readers! All rights reserved. We focused even more on what we could control, staying focused on the things we could do better, she explains. Speaking of Gen Z, she says the key is to be authentic. This is why we invested a lot in training. View the profiles of people named Francesca Bellettini. 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. Francesca was Worldwide Merchandising and Communications director at Bottega Veneta, and Strategic Planning & Associate Worldwide Merchandising Director at Gucci. She climbed the ladder at Kering starting in 2003, when she joined as strategic planning director and associate worldwide merchandising director of Gucci. In the luxury group's2018 full-year results, Saint Laurent reached sales1.74 billion, a 16.1 percent increase in reported growth. And she doesnt speak French. Bellettini noted how, guided by YSLs commitment to its team, they managed to not fire anyone during the COVID-19 pandemic. 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. In his new novel, Tracy Flick Cant Win, author Tom Perrotta asks: Who is Tracy Flick now? Bellettini said that rather than trying to craft a personality far from your true self in order to win the interview, authenticity is key. 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. YSL continues to grow that number. 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. We talk a lot about strategy, where we want to go. 2023 The Business of Fashion. Saint Laurent opened its first flagship in China in 2019 and the network is being expanded in the country. 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. Our Q3 performance in China was very strong, with excellent growth in-store and online. 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.. This, Bellettini maintains, also translates to improved business from travellers a key strategy given the huge potential of travel retail. 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. California Weighs $360,000 in Reparations to Eligible Black Residents. 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. Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. Indeed, Bellettinis commitment to a balanced approach has made Saint Laurent the star of parent company Kerings vast portfolio of luxury brands. 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.. 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 joined YSL during a crucial time in its development. 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. International Womens Day happened to coincide with the campaign. Francesca Bellettini is 50, she's been the President and Chief Executive Officer of Yves Saint Laurent and Member of the Executive Committee of Kering SA since 2015. We communicate the brand, and Anthony does it in a way thats very relevant, she says. 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. 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. Nonetheless, the brand attracts luxurys coveted younger consumers. Con Laetitia Casta, Mathieu Amalric, Pierre Arditi, Nomie Lvovsky.