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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. Smaller categories such as silk, jewellery and eyewear are also booming, contributing to growth. 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All rights reserved. Virtual reality and sports seem like polar opposites. 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. Reproduce canciones como "Distratto (I Wonder About You) [Acoustic Live Solo]", "Be My Husband (Acoustic Live Solo)" y mucho ms. 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. The event ended with this final question: what is the greatest piece of advice you can share to the audience? 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. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. Bellettini noted how, guided by YSLs commitment to its team, they managed to not fire anyone during the COVID-19 pandemic. Mr. Vaccarello and Ms. Bellettini have since become soul mates. The biggest move to bring clarity back was changing the brand name. Do whatever you like. She took the job. 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. Francesca Bellettini was appointed president andchief executiveof Saint Laurent in July 2013. Impressively, the executive has maintained the house's upward trajectorydespitethe departure of its star creative director Bellettini also believes that no job is a waste of time, even if we have to deal with bosses that we do not like. By Roza Kovak. As an Italian national, Bellettini grew up loving fashion and beauty, noting how her hometown, an influential street fashion hub, was inspiring. Our Q3 performance in China was very strong, with excellent growth in-store and online. 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. 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. 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. Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand. 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. Its effective, also because the name is powerful.. People from her region have a disarming way of speaking that makes them sound playful even when they are dead serious. or 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. In 2013, she became President and Chief Executive Officer of Yves Saint Laurent. How Saint Laurent Became a $3 Billion Powerhouse. It earned the brand criticisms. 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. 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. Apple said Mr. Deneve would be. 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. Thats when Mr. Pinault noticed her. 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 . She has that rare leadership quality which allows her team members to do the work they were hired to do with little or no interference. Her husband, a businessman who has been in her life for 20 years, lives in Milan. Well keep working on it because for me, the journey in sustainability is never finished. (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) By Laure Guilbault November 15, 2021 Courtesy of Saint Laurent Around 60 per cent of Saint Laurent's clients were locals in 2020, according to Morgan Stanleys estimates. You need to take a position sometimes, and you also need to give consumers things they dont even know that they want.. 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]." 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. Search instead in Creative? We talk a lot about strategy, where we want to go. 29 November 2018. , who was succeeded by Anthony Vacarello in April 2016. Her father, whom she adored, was an accountant at a lumber company; her mother, a school administrator. 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. 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 . In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. Later, at the investment bank Deutsche Morgan Grenfell in London, she helped pitched deals to luxury fashion houses, and in the process met Patrizio Bertelli, chief executive of the Prada Group. The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. 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. 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. For me, this is a balance between creativity, merchandising and business, added Bellettini. Kerings largest brand missed analyst estimates, citing the gradual arrival of the new Aria collection and the decline of traffic in the stores in Asia-Pacific due to Covid restrictions this summer. The biggest move to bring clarity back was changing the brand name. 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. Chief Executive Officer, Yves Saint Laurent at Kering - View - Kering org chart. 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. 2016 Saint Laurent achieves 26 per cent year-on-year growth. First of all fashion, in Bellettinis words, can transform you into a dreamer. 2023 Fortune Media IP Limited. Saint Laurent is the second largest Kering house (representing 13 per cent of the group sales) behind Gucci. Check if your During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Saint Laurent is never too skewed vis--vis anything vis--vis a product category, vis--vis a channel because we really believe in balance. Investing veterans Deborah Jackson and Andrea Turner Moffitt connectfemale entrepreneurs with investors in a creative way with their firm, Plum Alley Investments. 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. But she does believe in learning from mistakes. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Bellettini encouraged everyone to always be curious. Since 2012, Saint Laurent Paris, formerly known as Yves Saint Laurent, has boasted double-digit year-on-year growth. 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. analyse how our Sites are used. Sustainability, another pressing topic for fashion brands to consider alongside growth, is a priority, Bellettini says. 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. Escucha 'Nice to Meet You (Acoustic Live Solo)' de Francesca Michielin en Apple Music. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue 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. 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. 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. Cross selling requires more time. Sometimes if you look at one part, you lose the full picture, she says. She was appointed president and CEO of Yves Saint Laurent in 2013. 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.. Customer Service. To win local customers, Saint Laurent invested in sales staff training. We are delighted that you'd like to resume your subscription. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. It was a very ironic, very playful way to present stilettos and boots, she said. Right now, Bellettini is actively trying to learn French with the goal of becoming an Okay French speaker by the end of 2021. This was a further step, she says. 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. During tumultuous economic periods, purse strings are naturally tightened and non-essential purchases are forgone, including luxuries. Sales have just hit the 1.5 billion mark; her ultimate goal is to double it. Sign up to our newsletter for a truly global perspective on the fashion industry. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. Mr. Vaccarello and Ms. Bellettini have since become soul mates. 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. View the profiles of people named Francesca Bellettini. Bellettini joined YSL during a crucial time in its development. Frances advertising watchdog asked Saint Laurent to modify two ads. Secondly, as a brand, YSL has set a clear strategy dedicated to never making compromises and executing meticulously. Francesca Bellettini, chief exec of fast-growing Yves Saint Laurent, says a crucial part of managing a business is balance. The people shaping the global fashion industry, curated by the editors of The Business of Fashion, based on nominations and on-the-ground intelligence from around the world. 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. At a time when other Kering brands including Alexander McQueen and Gucci dabble in resale, Saint Laurent stays away from it; at a time when gaming takes fashion by storm, Saint Laurent doesnt jump on the bandwagon. A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. The oldest executive at Kering SA is Baudouin Prot, 69, who is the Director. Join Facebook to connect with Francesca Bellettini and others you may know. For cost savings, you can change your plan at any time online in the Settings & Account section. Bellettini said that rather than trying to craft a personality far from your true self in order to win the interview, authenticity is key. Her poise, her elegance, her drive, all with an overwhelming optimism. of Saint Laurent, she was the first name on my list, Mr. Pinault said. I said, I met Mr. Bertelli and he offered me the job of my life, and I can leave banking, she recalled. It was pissing me off a little bit, she said. I could spend all day in here, Vaccarello says. This is to ensure the offer is reflecting the current vision of the brand. 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. 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. Reach out to me, at: laura.cohn@gmail.com or @laurascohn. 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.. After graduating from high school, Bellettini had two plans. She doesnt use mascara or foundation. 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. 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. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. When she arrived from another Kering brand, Bottega Veneta, in 2013, the. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. Our duty is to know what's going on in the supply chain and control it in the best possible way. 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. PARIS The Vogue Paris Fashion Festival gathered industry voices from heritage brands to startups; traditional retail to digital; casting agents to supermodels. We understand what each other wants, 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 . Bellettini stressed the importance of finding those special people along who you can trust. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. He gives you autonomy within a framework., Ms. Bellettini relied on her Italian identity to navigate the alien culture of Paris. 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. It helps that were open, that we tend to smile, that we have this funny accent, she said, smiling. Sexy concepts Bellettini recommended her viewers to always be observant of a companys culture before applying for a job. Francesca Bellettini (born 18 April 1970) is an Italian business woman. The scientific advance could aid people with recent hearing loss. Subhadra Dravida founded Transcell Biologics, a stem cell technology company, in 2009. Customer Service. 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. 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. Ending with a hopefulness to participate the next time Brown University Fashion Week takes place in person, Bellettini left us in awe. The Saint Laurent head office is based on Rue de Bellechasse in Paris. 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Flexibility has been another. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris.CreditMarco Cella for The New York Times. You may cancel your subscription at anytime by calling It was brilliant from a marketing standpoint. 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. 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. She had always loved fashion, but the job came with a 50 percent pay cut. 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. Plan A was to study Business Administration at Bocconi University and follow her dream of running a company. Getty. 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. But in one areapublic relationswomen appear to dominate. 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.