But I dont have to do something to please someone or some client.. It was an anecdote from the early times of her career when she attended a meeting. Well, it turned out they didnt know much. With the brands new direction firmly established, Bellettini is now focused on the future. This business model is something Bellettini argues helps the brand to get back to its core essence as a fashion house. The actor and comedian also discusses her new childrens book and writing a diary in the sauna, Tracy Flick Is Back: Older, Wiser, Still in High School, Chef Thomas Keller on Finding Professional Success After 40, Hailey Biebers Lymphatic Massage Provider Has a 2,300-Person Waitlist, Tiffany Haddish Reveals Her Secret Calendar Productivity Hack, The Tax Play That Saves Some Couples Big Bucks, How Gas From Texas Becomes Cooking Fuel in France, Amazon Pausing Construction of Washington, D.C.-Area Second Headquarters, Rep. Alexandria Ocasio-Cortez Under Scrutiny for Met Gala Participation. 25 April 2016. The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. That, to me, has been what makes her such a wonderful CEO, especially in a creative field like fashion, said McInnes. Its effective, also because the name is powerful.. We understand what each other wants, she said. She doesnt wear hose even in the dead of winter. Plan A was to study Business Administration at Bocconi University and follow her dream of running a company. To win local customers, Saint Laurent invested in sales staff training. One question asked Bellettini what she most enjoyed about her job. The company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. 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. Mr. Vaccarello and Ms. Bellettini have since become soul mates. 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. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. 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. Gucci became the first brand to go public, attracting business administrators to the sector. It hasn't come without a cost. I could spend all day in here, Vaccarello says. Definitely the sensitivity of people and their ability to speak out is much bigger than before, she said. Our Q3 performance in China was very strong, with excellent growth in-store and online. 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. Notable for Saint Laurent under Bellettini is its leather business. OXFORDSHIRE, United Kingdom These days, Saint Laurent chief executive Francesca Bellettini spends more time fielding questions about her former colleague, current Celine creative director Hedi Slimane, than she would perhaps like. 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. We communicate the brand, and Anthony does it in a way thats very relevant, she says. Comments, questions or feedback? For cost savings, you can change your plan at any time online in the Settings & Account section. 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.) The biggest move to bring clarity back was changing the brand name. 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. But she does believe in learning from mistakes. After Prada, she jumped to Helmut Lang, to Gucci and then to Bottega Veneta, where she was communication and merchandising director, living comfortably in Lugano, near Milan. Sign up to our newsletter for a truly global perspective on the fashion industry. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris.CreditMarco Cella for The New York Times. In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. ", Kering CFO Jean-Marc Duplaix said during the earnings call that Saint Laurent had much room to grow further to a higher degree of penetration in certain markets: Globally speaking, the growth is very well balanced as it has always been the case at Saint Laurent between like-for-like growth and space expansion. China is still an important region. 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]." But she did not pull the ads. Though she declined to disclose a more ambitious goal herself, industry sources say it wants to become a 5 billion brand in time. 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. Balance is also evident in Saint Laurents approach to its clientele and distribution. It helps that were open, that we tend to smile, that we have this funny accent, she said, smiling. Francesca Bellettini has achieved the impossible with Saint Laurent. 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. 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 . Hear the latest economic, business and market news, as well as global, national, and local news. 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. 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. Flexibility has been another. 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. You need to take a position sometimes, and you also need to give consumers things they dont even know that they want.. offers FT membership to read for free. Customer Service. of Yves Saint Laurent. Saint Laurent wanted to be a billion-dollar company. From 2008 to 2013, she worked at Bottega Veneta, eventually as worldwide merchandising and communications director. In the past we would use it to do flooring of the warehouses. A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. It earned the brand criticisms. In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. 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. The enshittification of apps is real. Bellettini is the kind of person who is goal driven and focusing on pushing forward towards that goal, said McInnes. She joined the famous Parisian house, replacing Paul Deneuve, at a crucial time in its development. 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. Why? Standard Digital includes access to a wealth of global news, analysis and expert opinion. Already, as soon as Vaccarello arrived, they had made the decision to always wait one year to mark down the current collection. He was Ms. Bellettinis only candidate. We talk a lot about strategy, where we want to go. Ready-to-wear, however, is growing faster at the moment, Bellettini notes, but she adds that the breakdown per category is not meaningful. My Lover, My Son: Dirigido por John Newland. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. By Roza Kovak. Renaming a world-famous brand is never advisable. 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. The luxury house is known for its formalwear and sharp tailoring. Saint Laurent wanted to be a billion-dollar company. 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. 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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. 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 has been a big strength during the pandemic, when tourism stopped. 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. 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. 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. By Laure Guilbault November 15, 2021 Courtesy of Saint Laurent Speaking of Gen Z, she says the key is to be authentic. Saint Laurent was the star of the Kering Groups most recent earnings publications. Francesca Bellettini joined Kering in 2013. cookies When you are at 2 billion, to think of potential at 3 billion is too easy, she says. She has what she calls de-stressful activities three mornings a week: running as much as six miles along the Seine or kickboxing with a personal trainer. He is a good cook; she is not, so he sometimes invites her over for pasta. 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. Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. 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. Their go-to expert? Browse 110 francesca bellettini stock photos and images available, or start a new search to explore more stock photos and images. In 2019 she was awarded the FrenchKnight of the Legion of Honour, the highest possible distinction for a civilian in the country. 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Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Fashion has never been so competitive. With the house on track to end 2021 with sales over 2 billion, CEO Francesca Bellettini believes the brand can rise even further. View the profiles of people named Francesca Bellettini. Bellettini says: The work that Anthony has been doing in terms of diversity of age, sex, gender, color, body type, as judged on a 360 basis, has been quite impressive, still being able to communicate the brand. They talk just about every day, share vacations and some weekends, but rarely appear in public together. 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. Bellettini noted how, guided by YSLs commitment to its team, they managed to not fire anyone during the COVID-19 pandemic. It was drastic, said McInnes. ", The priority is to make sure the leather I use is sourced correctly. The brand has had an inflection, according to Morgan Stanley analyst Edouard Aubin, with less black and white and more color, thus catering to a broader audience, he wrote in a note. Its not a problem. , Mr. Pinault set a broad strategic vision and gave her flexibility and freedom in reaching the goals. 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. Bellettini appointed Anthony Vaccarello as creative director in 2016. Nevertheless, Bellettinis success was not easy to achieve. 2023 Fortune Media IP Limited. Search instead in Creative? 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. We dont do it to sell an extra bag. The looks Anthony does for the shows are incredibly complete jewellery, shoes, etc. As an Italian national, Bellettini grew up loving fashion and beauty, noting how her hometown, an influential street fashion hub, was inspiring. 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. YSL continues to grow that number. 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. 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. Im obsessed with two things: local customers and comp growth, says Bellettini. 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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