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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 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. 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. or 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. 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. Her father, whom she adored, was an accountant at a lumber company; her mother, a school administrator. 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. Forging Saint Laurent's Future with Francesca Bellettini But is it bad? Indeed, Bellettinis commitment to a balanced approach has made Saint Laurent the star of parent company Kerings vast portfolio of luxury brands. That, to me, has been what makes her such a wonderful CEO, especially in a creative field like fashion, said McInnes. She had always loved fashion, but the job came with a 50 percent pay cut. It wasnt her first time in the line of fire, in any case. 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. 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. My Lover, My Son (1970) - IMDb 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. "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. CEO and president of Yves Saint Laurent, Francesca Bellettini . Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. How Yves Saint Laurent's CEO Worked to Improve Corporate Culture 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. 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. Sexy concepts However, under Francesca Bellettini's guidance, the rebadged Saint Laurent has been remarkably successful. Comments, questions or feedback? A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. 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. Twenty-nine years old is a little early to do a job for money. We focused even more on what we could control, staying focused on the things we could do better, she explains. 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. Now, we have arrived at a level of quality that is so high that we can use them for trimmings of some products. Biography of Francesca Bellettini - The Official Board Markdowns are now limited to controlled environments meaning few private sales dedicated to selected clients and outlets, which she calls a legitimate channel with very small overlap of clientele with stores. Bellettini encouraged everyone to always be curious. 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 . 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. We communicate the brand, and Anthony does it in a way thats very relevant, she says. Silicon Valley always seems to be abuzz about the limited number of womenin the tech industry. Bellettini has achieved this global reach through a keen focus on developing local markets. 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. Email us at feedback@voguebusiness.com. Please see our privacy policy for more information. Quick to smile at everyone, even in a smile-stingy city like Paris, she is also famously calm and loath to second-guess herself or her team. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks. Francesca Bellettini was considered an odd choice for the heritage house but shes led it into the billion-euro club. 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. Another question asked whether it was difficult for Bellettini to take a job in Paris, for a Parisian brand, when not speaking French herself. 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. 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. When he bought himself a honey-colored bulldog puppy at Christmas, he bought one in black for her. Certainly, Bellettini deserves to be recognised as one of the most influential leaders in fashion today. university You have to know where you want to go, she said. 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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]." She is resolved to stay true to the brands DNA while pushing to capture new customers and enter new markets. Bellettini noted how, guided by YSLs commitment to its team, they managed to not fire anyone during the COVID-19 pandemic. She doesnt use mascara or foundation. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. Simmenauer adds that the brands handbags in particular are timeless and well priced. Why is Anthonys ready-to-wear always pictured in the magazines with our bags and shoes? 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. Plan A was to study Business Administration at Bocconi University and follow her dream of running a company. Exclusive: Step Inside YSL's New Parisian Headquarters - WSJ YSL continues to grow that number. 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. Chief Executive Officer, Yves Saint Laurent at Kering - View - Kering org chart. Saint Laurent CEO Francesca Bellettini's big ambitions 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. Francesca Bellettini Profiles | Facebook FORTUNE may receive compensation for some links to products and services on this website. The fired Google engineer who thought its A.I. Hear the latest economic, business and market news, as well as global, national, and local news. We see with the store reopening worldwide, we have a lot of younger customers coming, people in their 20s, buying gifts, etc., she says. Yves Saint Laurent Names Francesca Bellettini CEO; Hedi Slimane - WSJ This has been a big strength during the pandemic, when tourism stopped. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Renaming a world-famous brand is never advisable. That mindset is reflected in what Saint Laurent does as much as what it chooses not to do. 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. Saint Laurent still has white space to open stores, develop in Asia and reinforce cross-selling across product categories, says Ortelli. 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.. Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. Francesca Bellettini is appointed president and chief executive. Ms. Bellettini, an executive director at Bottega Veneta, will succeed Paul Deneve, who is leaving to join Apple Inc. after just two years at the fashion label. 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. 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. (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) But in spite of this natural reaction, one brand has defied the trend. When I met him, I was incredibly impressed that he was not at all afraid of the challenge. 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. 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.. (if applicable) for The Wall Street Journal. He is a good cook; she is not, so he sometimes invites her over for pasta. Ms. Bellettini said that she received a stream of hate emails, including one calling her a whore. Her major renovation of the companys organisation not only consolidated the brands new image, but also allowed Saint Laurent to reach a whole new audience. of Yves Saint Laurent. This massage technique is attracting fans across Hollywood, including Ariana Grande, Kourtney Kardashian and Sean Diddy Combs. (Personal luxury goods sales dropped 22 per cent at the time, according to a Bain Altagamma study.) She was appointed president and CEO of Yves Saint Laurent in 2013. Francesca Bellettini Receives France's Legion of Honor - WWD Escucha 'Nice to Meet You (Acoustic Live Solo)' de Francesca Michielin en Apple Music. Francesca Bellettini a star at Saint Laurent | Financial Times California Weighs $360,000 in Reparations to Eligible Black Residents. Their go-to expert? Also, focus: In Paris, Ms. Bellettini lives in an apartment close to the 17th-century htel particulier on the Left Bank that serves as the companys creative core. Elon Musks Twitter is dying a slow and tedious death, Who to fire? In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. Got some news on an exceptional woman? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. 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. 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. 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.
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