It was a very ironic, very playful way to present stilettos and boots, she said. 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. They are reluctant to be targeted.. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris. Inside out Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. Her obsession is paying off. Already a member? The company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. 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. 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. FORTUNE may receive compensation for some links to products and services on this website. To win local customers, Saint Laurent invested in sales staff training. Some white space to reach its new target. Customer Service. 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. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. Our Q3 performance in China was very strong, with excellent growth in-store and online. This business model is something Bellettini argues helps the brand to get back to its core essence as a fashion house. Slimane leaves Saint Laurent, and Anthony Vaccarello is named. Premium access for businesses and educational institutions. cookies Her poise, her elegance, her drive, all with an overwhelming optimism. 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. 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. Im obsessed with two things: local customers and comp growth, says Bellettini. 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. Investing veterans Deborah Jackson and Andrea Turner Moffitt connectfemale entrepreneurs with investors in a creative way with their firm, Plum Alley Investments. When describing why she chose Goldman Sachs International over other companies, she said that the company felt like a family. For more information read our Terms & Conditions and Privacy Policy. Despite a heavy workload and "massive" pressure, she said she feels secure in her career. She turned to her father for guidance. 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. Ending with a hopefulness to participate the next time Brown University Fashion Week takes place in person, Bellettini left us in awe. We are delighted that you'd like to resume your subscription. That means you risk having more leftovers. You will be notified in advance of any changes in rate or terms. Bellettini started Bocconi University and completed her education with a year abroad at the University of Chicago where she was introduced to the world of investment banking. 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. Bellettini encouraged everyone to always be curious. 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. To receive the Vogue Business newsletter, sign up here. (if applicable) for The Wall Street Journal. 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 doesnt use mascara or foundation. First of all fashion, in Bellettinis words, can transform you into a dreamer. The oldest executive at Kering SA is Baudouin Prot, 69, who is the Director. Bellettini shared a particular story about one of the biggest mistakes of her career which put her heart out for the audience; it was vulnerable and so very important. CEO and president of Yves Saint Laurent, Francesca Bellettini . Email us at feedback@voguebusiness.com. We understand what each other wants, she said. During tumultuous economic periods, purse strings are naturally tightened and non-essential purchases are forgone, including luxuries. 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. I didnt know Anthony personally, but I thought, He is the only one who can come here and do Saint Laurent, in the way Anthony sees women, she said. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. 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. 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. 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. We are the only French couture house to be relevant in both menswear and womenswear. The reality, however, has proven to be very different. For me, this is a balance between creativity, merchandising and business, added Bellettini. Copyright 2023 Surperformance. Francesca Bellettini has achieved the impossible with Saint Laurent. Frances advertising watchdog asked Saint Laurent to modify two ads. We dont do it to sell an extra bag. Saint Laurent wanted to be a billion-dollar company. Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand. Alex Murdaughs Trial Lasted Six Weeks. All rights reserved. What did they know? One question asked Bellettini what she most enjoyed about her job. She has been the chief executive officer of Yves Saint Laurent since 2013. She climbed the ladder at Kering starting in 2003, when she joined as strategic planning director and associate worldwide merchandising director of Gucci. Already, as soon as Vaccarello arrived, they had made the decision to always wait one year to mark down the current collection. 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. My Lover, My Son: Dirigido por John Newland. Such praise is undoubtedly due, but Bellettinis work behind the scenes has been just as instrumental. 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. One of the few female CEOs leading a fashion brand, Francesca Bellettini started her career as an investment banker before switching industries. This has raised the bar for each and every one of us. 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. 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 . 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. university So maybe it makes sense that in this new mothership, the result of three years of work, he prefers a hidden space over all else. He asked me did I want to be C.E.O. He was Ms. Bellettinis only candidate. Although she may not be a fluent French speaker yet, she was awarded the French Knight of the Legion of Honour, the highest possible distinction for a civilian in the country, serves on the executive committee of France's Fdration de la Haute Couture et de la Mode, and in 2019 was elected president of the Chambre Syndicale de la Mode Fminine, the country's governing body for womenswear. 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. 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. 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. PARIS Francesca Bellettini is riding high.. The rebranding brought with it a more refined, heightened sense of elegance and luxury, reaffirming Saint Laurent as one of the worlds preeminent luxury fashion brands.. As she explained on Monday at the Financial Times Business of Luxury Summit in San Francisco in conversation with the paper's Fashion Editor Jo Ellison, Bellettini believes strongly in giving a. The looks Anthony does for the shows are incredibly complete jewellery, shoes, etc.