Customer Service. Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand It makes us simpatico. The worst thing you can do with your teams is to create a culture of fear.. 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. 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. Our Q3 performance in China was very strong, with excellent growth in-store and online. We see with the store reopening worldwide, we have a lot of younger customers coming, people in their 20s, buying gifts, etc., she says. 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. In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. 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. During tumultuous economic periods, purse strings are naturally tightened and non-essential purchases are forgone, including luxuries. Miller, who was born in Guyana, says,"I believe that level of abuse means I am doing something right for investors.". Francesca Bellettini has achieved the impossible with Saint Laurent. Francesca Le Photos and Premium High Res Pictures - Getty Images 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. Hedi Slimane 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. 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. She is resolved to stay true to the brands DNA while pushing to capture new customers and enter new markets. When I had to replace Paul Deneve as C.E.O. 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. Fashion has never been so competitive. Lauren Sherman. The companys enviable performance can, in large extent, be attributed to a drastic and unexpected rebranding. Ready-to-wear, however, is growing faster at the moment, Bellettini notes, but she adds that the breakdown per category is not meaningful. 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. A great sales force can make a difference, in terms of proposing a silhouette. Rebecca Faria, a 29-year-old Brazilian. 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. Do whatever you like. She took the job. 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 . This was a further step, she says. 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. She was there to review a collection for the upcoming season. Around 60 per cent of Saint Laurent's clients were locals in 2020, according to Morgan Stanleys estimates. (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. For cost savings, you can change your plan at any time online in the Settings & Account section. You may change or cancel your subscription or trial at any time online. Anyone can read what you share. cookies Search instead in Creative? Secondly, as a brand, YSL has set a clear strategy dedicated to never making compromises and executing meticulously. When he bought himself a honey-colored bulldog puppy at Christmas, he bought one in black for her. Powered and implemented by Interactive Data Managed Solutions. Valerio Mezzanotti for The New York Times. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. She later became the Operations Manager for Helmut Lang where she found out that she was just as much attracted to the create aspect of the fashion industry as the business aspect. Under CEO Francesca Bellettini and designer Anthony Vaccarello, Saint Laurent has more than doubled sales in 5 years and is on track to surpass $3 billion in 2022. Offers may be subject to change without notice. Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers. In the third quarter of 2021, Saint Laurent generated 22 per cent of its sales in Asia Pacific, versus 41 per cent for Gucci and 35 per cent for Bottega Veneta. To win local customers, Saint Laurent invested in sales staff training. Anthony Vaccarello has nearly finished giving a tour of the just-opened 140,000-square-foot headquarters of fashion house Yves Saint Laurent in a tony corner of Pariss seventh arrondissement when, heading toward the exit, he says hes saved his favorite part for last. 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. When I met him, I was incredibly impressed that he was not at all afraid of the challenge. You may change your billing preferences at any time in the Customer Center or call 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. 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. 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" A University of East Anglia researcher, Helen Bear, is developing technology to enable computers to read lips. Bellettini took it to that level within a three-year period. Inside out They talk just about every day, share vacations and some weekends, but rarely appear in public together. "I most often work in places that are torn by war, natural disasters or epidemic, but I'm incredibly at peace amid the chaos," she said. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. Con Romy Schneider, Donald Houston, Dennis Waterman, Patricia Brake. He gives you autonomy within a framework., Ms. Bellettini relied on her Italian identity to navigate the alien culture of Paris. CEO and president of Yves Saint Laurent, Francesca Bellettini . Nevertheless, Bellettinis success was not easy to achieve. We talk a lot about strategy, where we want to go. 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. 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. In a second, I said, Yes! Then I said, You know I dont speak French, right? and he said, I know that. My Lover, My Son (1970) - IMDb Their go-to expert? Nonetheless, the brand attracts luxurys coveted younger consumers. Francesca Bellettini Net Worth (2023) | wallmine The decision was to invest. 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. Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. That mindset is reflected in what Saint Laurent does as much as what it chooses not to do. Smaller categories such as silk, jewellery and eyewear are also booming, contributing to growth. Board of Directors | Ferrari Corporate 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. Saint Laurent's Power Woman - The New York Times During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. It was an anecdote from the early times of her career when she attended a meeting. We support credit card, debit card and PayPal payments. That means you risk having more leftovers. of Yves Saint Laurent. The biggest move to bring clarity back was changing the brand name. In 2013, she became President and Chief Executive Officer of Yves Saint Laurent. 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. 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. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. You need to take a position sometimes, and you also need to give consumers things they dont even know that they want.. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Saint Laurent still has white space to open stores, develop in Asia and reinforce cross-selling across product categories, says Ortelli. This is why we are less vocal. Saint Laurent wanted to be a billion-dollar company. For more information read our Terms & Conditions and Privacy Policy. 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. 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. Im obsessed with two things: local customers and comp growth, says Bellettini. It was pissing me off a little bit, she said. 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. She was appointed president and CEO of Yves Saint Laurent in 2013. 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. It wasnt her first time in the line of fire, in any case. By Roza Kovak. 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. We dont do it to sell an extra bag. The enshittification of apps is real. Please see our privacy policy for more information. 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. First of all fashion, in Bellettinis words, can transform you into a dreamer. 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. California Weighs $360,000 in Reparations to Eligible Black Residents. $ + tax ", 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. 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. Silicon Valley always seems to be abuzz about the limited number of womenin the tech industry. Got some news on an exceptional woman? The event ended with this final question: what is the greatest piece of advice you can share to the audience? 2016 Saint Laurent achieves 26 per cent year-on-year growth. Francesca Bellettini Photos and Premium High Res Pictures - Getty Images Indeed, Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers, particularly given around 70 percent of customers each year are new. Working with her is enriching, Mr. Vaccarello said. 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. As a luxury brand, you secure the best part of the leather. Francesca Bellettini joined Kering in 2013. Mr. Vaccarello and Ms. Bellettini have since become soul mates. The creative director responded to Bellettini with, So you did not like the rest? Bellettini drew attention to how important it is to respect designers and understand the pressure they have on their shoulders. However, under Francesca Bellettini's guidance, the rebadged Saint Laurent has been remarkably successful. International Womens Day happened to coincide with the campaign. She joined the famous Parisian house, replacing Paul Deneuve, at a crucial time in its development. 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. Nowadays, I see that the consumer approaches Saint Laurent from every product category depending on what they want, said Bellettini to BoF. While she was working as an investment banker, the fashion industry was flourishing. Another question asked whether it was difficult for Bellettini to take a job in Paris, for a Parisian brand, when not speaking French herself. Francesca Bellettini Receives France's Legion of Honor - WWD Will Others Follow? Bellettini said that rather than trying to craft a personality far from your true self in order to win the interview, authenticity is key. This required their team members to take on unique responsibilities, for instance, those who work at the stores as sales assistants were trained to become sales assistants over the phone. Although the virtual platform did not allow us to see the audience members, you could tell by Rosenkranz and Siegals faces that they were thoroughly moved by Bellettinis words. Yves Saint Laurent Names Francesca Bellettini CEO; Hedi Slimane - WSJ Nice to Meet You (Acoustic Live Solo) de Francesca Michielin This has raised the bar for each and every one of us. Francesca Bellettini, chief exec of fast-growing Yves Saint Laurent, Gina Miller, co-founder of investment boutique SCM Private, has campaigned against sneaky chargesin the asset management market. 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. He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking. In the past we would use it to do flooring of the warehouses. Reproduce canciones como "Distratto (I Wonder About You) [Acoustic Live Solo]", "Be My Husband (Acoustic Live Solo)" y mucho ms. 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. personalising content and ads, providing social media features and to PARIS Francesca Bellettini is riding high.. 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. Customer Service. This, Bellettini maintains, also translates to improved business from travellers a key strategy given the huge potential of travel retail. Francesca Bellettini is also on the board of Technogym SpA, Yves Saint Laurent UK Ltd. and Ferrari NV. At the forefront of this strategy is balance. 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. And though former Creative Director Hedi Slimane was very much a driving force for this transition, it was CEO Francesca Bellettini who ensured the success of such a risky strategy, while also overseeing a radical overhaul of the company from within. After graduating from high school, Bellettini had two plans. Despite a heavy workload and "massive" pressure, she said she feels secure in her career. Many observers credit Slimane for Saint Laurents recent success. Right now, Bellettini is actively trying to learn French with the goal of becoming an Okay French speaker by the end of 2021. It was drastic, said McInnes. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Getty. Whilst at the Italian leather goods and ready-to-wear brand, also owned by Kering, Bellettini oversaw merchandising, visual display and communications and was instrumental in the brands repositioning and popularity in emerging markets. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. Showing Editorial results for francesca bellettini. 2023 The Business of Fashion. Elon Musks Twitter is dying a slow and tedious death, Who to fire? Some white space to reach its new target. 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. 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. Bellettini also believes that no job is a waste of time, even if we have to deal with bosses that we do not like. 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.) Bellettini also shared how she still does not speak French. Gucci became the first brand to go public, attracting business administrators to the sector. 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. In his new novel, Tracy Flick Cant Win, author Tom Perrotta asks: Who is Tracy Flick now? In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. 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. Luckily, everyone in Bellettinis team did speak English with her. 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. 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. 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. You will be charged 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 . 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. Email us at feedback@voguebusiness.com. She sure is a powerhouse woman running a billion-dollar brand. He never frightens you, she said. This generation doesnt appreciate being considered a target. The established fashion executive spent years at the helm of several Kering brands before being tapped to lead Saint Laurent. Its not a problem. , Mr. Pinault set a broad strategic vision and gave her flexibility and freedom in reaching the goals. Escucha 'Nice to Meet You (Acoustic Live Solo)' de Francesca Michielin en Apple Music. One question asked Bellettini what she most enjoyed about her job. I could spend all day in here, Vaccarello says. 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.. Indeed, Bellettinis commitment to a balanced approach has made Saint Laurent the star of parent company Kerings vast portfolio of luxury brands. All Rights Reserved. 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 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. For a full comparison of Standard and Premium Digital, click here. Can New Bottega Balance Hype, Heritage and Rapid Growth. Though she declined to disclose a more ambitious goal herself, industry sources say it wants to become a 5 billion brand in time. If I can be honest, I dont think that today that campaign would even be shot.. Sales have just hit the 1.5 billion mark; her ultimate goal is to double it. 29 November 2018. 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. What did they know? It is only then can we find long-term joy and success. Her obsession is paying off. 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 company has a remarkably even worldwide geographical coverage in terms of stores and customers. 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. Check if your 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. Frances advertising watchdog asked Saint Laurent to modify two ads. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. Francesca Bellettini | BoF 500 | The People Shaping the Global Fashion 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 . 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.