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. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. ", 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. It was an anecdote from the early times of her career when she attended a meeting. 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. 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. PARIS Francesca Bellettini doesnt style her hair. For more information read our Terms & Conditions and Privacy Policy. Bellettini noted how, guided by YSLs commitment to its team, they managed to not fire anyone during the COVID-19 pandemic. Comments, questions or feedback? In 1999, he offered her a job as part of Pradas then-new business development division. Leather in particular is a material the brand is paying attention to, in terms of avoiding waste. This business model is something Bellettini argues helps the brand to get back to its core essence as a fashion house. Bellettini is the kind of person who is goal driven and focusing on pushing forward towards that goal, said McInnes. Francesca Bellettini was considered an odd choice for the heritage house but shes led it into the billion-euro club. Its not a problem. , Mr. Pinault set a broad strategic vision and gave her flexibility and freedom in reaching the goals. You can still enjoy your subscription until the end of your current billing period. 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 . Alex Murdaugh Receives Life Sentence: What Happens Now? This was a further step, she says. Alex Murdaughs Trial Lasted Six Weeks. Luckily, everyone in Bellettinis team did speak English with her. Working with her is enriching, Mr. Vaccarello said. 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. 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. Premium access for businesses and educational institutions. Got some news on an exceptional woman? To win local customers, Saint Laurent invested in sales staff training. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. Plan B was to study Mechanical Engineering at Bologna University and work for Ferrari; she had a bright laugh when describing how she aspired to be on the side-lines of the track changing the racing wheels of the cars. 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. Consumers realised it and since the offer was already well-developed, they could find it in stores.. 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. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Though she declined to disclose a more ambitious goal herself, industry sources say it wants to become a 5 billion brand in time. YSL continues to grow that number. Bellettini joined YSL during a crucial time in its development. Sales have just hit the 1.5 billion mark; her ultimate goal is to double it. 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. The chief executive officer of Saint Laurent last year steered the brand's revenues past the barrier of one billion euros, or $1.11 billion at . Nonetheless, the brand attracts luxurys coveted younger consumers. Lauren Sherman. Will Others Follow? The enshittification of apps is real. It earned the brand criticisms. California Weighs $360,000 in Reparations to Eligible Black Residents. The biggest move to bring clarity back was changing the brand name. The companys enviable performance can, in large extent, be attributed to a drastic and unexpected rebranding. You need to be careful of not entering into this stress and anxiety of having to change and having to do everything new, every season, because half of the people havent even had the time to look at it and to experience it. In an exclusive interview with Vogue Business, CEO Francesca Bellettini shares her plans to continue growth while sticking to the brand's DNA. Indeed, Bellettinis commitment to a balanced approach has made Saint Laurent the star of parent company Kerings vast portfolio of luxury brands. Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand. PARIS The Vogue Paris Fashion Festival gathered industry voices from heritage brands to startups; traditional retail to digital; casting agents to supermodels. 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. Simmenauer adds that the brands handbags in particular are timeless and well priced. Francesca was Worldwide Merchandising and Communications director at Bottega Veneta, and Strategic Planning & Associate Worldwide Merchandising Director at Gucci. 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. Francesca Bellettini (born 18 April 1970) is an Italian business woman. cookies Two Days Mattered Most. We talk a lot about strategy, where we want to go. Their brand offers an escape to people, which during this unparalleled time in our world, is vital. They talk just about every day, share vacations and some weekends, but rarely appear in public together. She doesnt wear hose even in the dead of winter. Hear the latest economic, business and market news, as well as global, national, and local news. But in spite of this natural reaction, one brand has defied the trend. 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. Getty. We communicate in a context thats not related to marketing, such as conferences and internal communication. She says that being a Kering brand is a benefit in terms of sustainability compliances. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. He asked me did I want to be C.E.O. Le grand appartement: Dirigido por Pascal Thomas. Ms. Bellettini said that she received a stream of hate emails, including one calling her a whore. 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. offers FT membership to read for free. We focused even more on what we could control, staying focused on the things we could do better, she explains. 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. By Roza Kovak. Sexy concepts We see with the store reopening worldwide, we have a lot of younger customers coming, people in their 20s, buying gifts, etc., she says. You may change or cancel your subscription or trial at any time online. You may change your billing preferences at any time in the Customer Center or call Terms & Conditions. 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. Well keep working on it because for me, the journey in sustainability is never finished. 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. Please see our privacy policy for more information. International Womens Day happened to coincide with the campaign. Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers. Bellettini has increased control over distribution, rationalised the number of wholesale doors and put in place a controlled and even more selective product distribution by signing contracts of selected distribution in Europe, converting in concessions some doors with wholesale partners. 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. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. 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. I said, I met Mr. Bertelli and he offered me the job of my life, and I can leave banking, she recalled. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris. Inside out This generation doesnt appreciate being considered a target. All rights reserved. And they certainly didnt know her. 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. Francesca Bellettini, Yves St Laurent SA: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Power Players:Chris Robshaw Bloomberg Radio Bloomberg Daybreak Asia. It is Bellettinis commitment to balance in this regard, as much as the brands DNA, that has pushed Saint Laurent to excel in both collections, achieving double-digit growth in a sluggish market. 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. Customer Service. 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. Diversification has been one key to the houses current success. She is resolved to stay true to the brands DNA while pushing to capture new customers and enter new markets. Continuity candidate 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. 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. Sign In. 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. This, Bellettini maintains, also translates to improved business from travellers a key strategy given the huge potential of travel retail. 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. Her obsession is paying off. 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. Russia's war on Ukraine latest: Putin casts war as battle for nation's survival, India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, French media billionaire Niel fails with bid for TNT television frequence - Arcom. At the forefront of this strategy is balance. Good morning, WMPW readers! of Saint Laurent, she was the first name on my list, Mr. Pinault said. We are the only French couture house to be relevant in both menswear and womenswear. 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. We knew that this was a super-healthy girl who had been working with us forever and we didnt see anything bad, Ms. Bellettini said. You may cancel your subscription at anytime by calling Speakers like Victoria Beckham, Saint Laurent chief executive Francesca Bellettini, Balenciaga CEO Cdric Charbit and model Bella Hadid engaged with a variety of issues: technological disruption, developing sustainable practices and . Nevertheless, Bellettinis success was not easy to achieve. 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. One question asked Bellettini what she most enjoyed about her job. 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. (For example, we would never do gaming simply because its something Generation Z is into. Part of establishing Saint Laurents new image has been a focus on permanent collections. 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. As a subscriber, you have 10 gift articles to give each month. Its a cascade. university 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. Francesca Bellettini is appointed president and chief executive. Elon Musks Twitter is dying a slow and tedious death, Who to fire? 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. In 2019 she was awarded the French Knight of the Legion of Honour, the highest possible distinction for a civilian in the country. 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. 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. As a luxury brand, you secure the best part of the leather. This has been a big strength during the pandemic, when tourism stopped. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. This inspired Bellettini to, in 1999, join the Business Planning and Development division of the Prada group. Bellettini has achieved this global reach through a keen focus on developing local markets. 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. 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. Saint Laurent was the star of the Kering Groups most recent earnings publications. and other data for a number of reasons, such as keeping FT Sites reliable and secure, 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.. 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 a second, I said, Yes! Then I said, You know I dont speak French, right? and he said, I know that. 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. The biggest move to bring clarity back was changing the brand name. First of all fashion, in Bellettinis words, can transform you into a dreamer. 518 Likes, 6 Comments - Francesca Root-Dodson (@francescajoroot) on Instagram: "Thrilled to be part of this beautiful production of "The Sign in Sidney Brustein's Window" with my" 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]." Bellettini is a remarkable woman. or Apple said Mr. Deneve would be. PARIS Francesca Bellettini is riding high.. 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.