These days, only 19 percent of YSL sales come from ready-to-wear, 59 percent from leather goods, 14 percent from shoes and the rest from miscellaneous items like eyewear. PARIS Francesca Bellettini doesnt style her hair. Moreover, Bellettini called for everyone to be ambitious but never impatient; experiences take time to be made. The ads were displayed on about 250 kiosks in France, mainly in Paris, and in fashion magazines; the open-legged ad was splashed on a large billboard along the route to Paris from Charles de Gaulle airport. 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. 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. . analyse how our Sites are used. But in one areapublic relationswomen appear to dominate. Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. Diversification has been one key to the houses current success. This business model is something Bellettini argues helps the brand to get back to its core essence as a fashion house. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. Despite this, Bellettini stated that they are stronger than ever as a brand. 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. Chief Executive Officer, Yves Saint Laurent at Kering - View - Kering org chart. Customer Service. 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. 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. You may change your billing preferences at any time in the Customer Center or call You may change or cancel your subscription or trial at any time online. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Bellettini appointed Anthony Vaccarello as creative director in 2016. Moderated by Emma . Yves Saint Laurent Names Francesca Bellettini CEO; Hedi Slimane - WSJ Do whatever you like. She took the job. 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. We communicate the brand, and Anthony does it in a way thats very relevant, she says. The brand also completely stopped making public markdowns during the pandemic. Some people dont believe it, but Anthony was the only one I met for the job.. Sustainability, another pressing topic for fashion brands to consider alongside growth, is a priority, Bellettini says. ", 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. 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All rights reserved. 29 November 2018. To win local customers, Saint Laurent invested in sales staff training. 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. 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. Flexibility has been another. Secondly, as a brand, YSL has set a clear strategy dedicated to never making compromises and executing meticulously. What was truly striking, however, was when Bellettini explained her out-look on life: if Plan A fails, Plan B will never be a watered-down version; instead, both paths will take her down something remarkable and exciting. He was required to sign a confidentiality agreement. Many observers credit Slimane for Saint Laurents recent success. Good morning, WMPW readers! 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. You may cancel your subscription at anytime by calling Francesca Bellettini has achieved the impossible with Saint Laurent. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. How Anthony Vaccarello and Francesca Bellettini took Saint Laurent to 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 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. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris. 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. 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. 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. 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. It hasn't come without a cost. Bellettini, a former investment banker, had stints at Prada group and Helmut Lang. Francesca Le Photos and Premium High Res Pictures - Getty Images Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. A University of East Anglia researcher, Helen Bear, is developing technology to enable computers to read lips. Check if your Browse 110 francesca bellettini stock photos and images available, or start a new search to explore more stock photos and images. She took it to that level within a three-year period.. Well, it turned out they didnt know much. 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. In early 2016, Slimane shocked the fashion world by announcing his decision to leave Saint Laurent, in spite of the success and influence he enjoyed in his role. 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. 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He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking Italian. 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. 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. By Roza Kovak. 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. 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. We dont do it to sell an extra bag. Her husband, a businessman who has been in her life for 20 years, lives in Milan. There are 12 older and 7 younger executives at Kering SA. 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. Hear the latest economic, business and market news, as well as global, national, and local news. 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. 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. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. First of all fashion, in Bellettinis words, can transform you into a dreamer. Premium access for businesses and educational institutions. She climbed the ladder at Kering starting in 2003, when she joined as strategic planning director and associate worldwide merchandising director of Gucci. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. It was pissing me off a little bit, she said. 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. Ms. Bellettini said that she received a stream of hate emails, including one calling her a whore. 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. Bellettini joined Yves Saint Laurent from Bottega Veneta. But in spite of this natural reaction, one brand has defied the trend. She is determined never to panic or bow to public pressure out of fear. Alex Murdaugh Receives Life Sentence: What Happens Now? Cross selling requires more time. 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. The company has a remarkably even worldwide geographical coverage in terms of stores and customers. Fashion has never been so competitive. Saint Laurent is never too skewed vis--vis anything vis--vis a product category, vis--vis a channel because we really believe in balance. 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. But I dont have to do something to please someone or some client.. In the past we would use it to do flooring of the warehouses. 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. In an exclusive interview with, Ganni, Patagonia and Reformation join pilot to decarbonise fashion, US retailers prepare for new normal in 2023 after rocky year, Chanel names Whitney Peak as new face of Coco Mademoiselle, Victoria Beckham and Francesca Bellettini talk creativity and sustainability in Paris, The Long View by Vogue Business: Bracing for a summer without Americans, Enter your email to receive editorial updates, special offers and breaking news alerts from, Gucci stumbles as Asia-Pacific growth slows. 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.