Its effective, also because the name is powerful.. Not everybody understood, because we are not very talkative; the more you explain, the less sexy a concept becomes. The change to Saint Laurent also reflected a decisive shift towards modernity, helping the brand reach young people who do not share the same connection to the original name as older generations. 2016 Saint Laurent achieves 26 per cent year-on-year growth. Already, as soon as Vaccarello arrived, they had made the decision to always wait one year to mark down the current collection. 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. Compare Standard and Premium Digital here. Well keep working on it because for me, the journey in sustainability is never finished. He met with Ms. Bellettini secretly, and after several interviews, including one with Franois-Henri Pinault, Kerings chairman and chief executive, was offered the job. People from her region have a disarming way of speaking that makes them sound playful even when they are dead serious. This generation doesnt appreciate being considered a target. 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. Hear the latest economic, business and market news, as well as global, national, and local news. She is determined never to panic or bow to public pressure out of fear. 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. Similarly, all e-tailers moved from a wholesale model to e-concessions (except for the websites of some US department stores, where Saint Laurent is still sold wholesale). (Bellettini, as she speaks, is dressed in a head-to-toe Saint Laurent: a floral blouse and mustard slacks.) The company has a remarkably even worldwide geographical coverage in terms of stores and customers. Bellettini joined Yves Saint Laurent from Bottega Veneta. 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 . Sometimes if you look at one part, you lose the full picture, she says. The biggest move to bring clarity back was changing the brand name. But in spite of this natural reaction, one brand has defied the trend. Frances advertising watchdog asked Saint Laurent to modify two ads. You can still enjoy your subscription until the end of your current billing period. 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. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. Will Others Follow? 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. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. As an Italian national, Bellettini grew up loving fashion and beauty, noting how her hometown, an influential street fashion hub, was inspiring. Over the last few years, this has hit high-end brands hard. She was a villain, then an icon. 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. President and Chief Executive Officer, Yves Saint Laurent. Showing Editorial results for francesca le. 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. According to the fashion house's CEO, Francesca Bellettini, the Vaccarello era at the fashion house will be a . Reach out to me, at:
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Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. In an exclusive interview with Vogue Business, CEO Francesca Bellettini shares her plans to continue growth while sticking to the brand's DNA. Apple said Mr. Deneve would be. Her father, whom she adored, was an accountant at a lumber company; her mother, a school administrator. It wasnt her first time in the line of fire, in any case. A great sales force can make a difference, in terms of proposing a silhouette. Simmenauer adds that the brands handbags in particular are timeless and well priced. In 2008, she joined Bottega Veneta and became Worldwide Merchandising and Communications Director in 2010. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Yet, this also meant that they could not hire more people either. It was a very ironic, very playful way to present stilettos and boots, she said. offers FT membership to read for free. The brand also completely stopped making public markdowns during the pandemic. 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. He asked me did I want to be C.E.O. 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. 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. Getty. If you judge everything he has been doing since he has arrived and the inclusivity he has expressed from the first campaigns, I hope people are able to recognise that. 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. 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. Bloody hell!. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. Saint Laurent is never too skewed vis--vis anything vis--vis a product category, vis--vis a channel because we really believe in balance. She doesnt use mascara or foundation. I said, I met Mr. Bertelli and he offered me the job of my life, and I can leave banking, she recalled. 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. Bellettini joined YSL during a crucial time in its development. Im obsessed with two things: local customers and comp growth, says Bellettini. Premium access for businesses and educational institutions. Valerio Mezzanotti for The New York Times. The looks Anthony does for the shows are incredibly complete jewellery, shoes, etc. Comments, questions or feedback? Although Bellettini shared that she did not always know she wanted to work in the fashion industry, she was certain her dream was to run a company. Rosenkranz asked about hurdles and bumps faced along the way, and Bellettini shared how her biggest mistake was allowing fear to get in her way. 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. cookies The Saint Laurent head office is based on Rue de Bellechasse in Paris. This is made possible through a leadership style that is confident, but trusting. 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. Bellettini took it to that level within a three-year period. university A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. You may change or cancel your subscription or trial at any time online. Twenty-nine years old is a little early to do a job for money. 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. It was this confidence that led her to choose Mr. Vaccarello, 38, to replace Mr. Slimane, the designer who turned around the struggling Saint Laurent while changing the name of its ready-to-wear line, its store dcor, ad campaigns and every product. Around 60 per cent of Saint Laurent's clients were locals in 2020, according to Morgan Stanleys estimates. Moreover, Bellettini called for everyone to be ambitious but never impatient; experiences take time to be made. You may cancel your subscription at anytime by calling 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. 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. 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. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. With the brands new direction firmly established, Bellettini is now focused on the future. But when BoF founder and editor-in-chief Imran Amed asked Bellettini what she . 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. Continuity candidate This has raised the bar for each and every one of us. Sign up to our newsletter for a truly global perspective on the fashion industry. After looping across the vast courtyard of the former 18th-century abbey, through the showrooms, we pass through the front gate at the rue de Bellechasse. He gives you autonomy within a framework., Ms. Bellettini relied on her Italian identity to navigate the alien culture of Paris. Inside out 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. Smaller categories such as silk, jewellery and eyewear are also booming, contributing to growth. 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 oldest executive at Kering SA is Baudouin Prot, 69, who is the Director. 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. Got some news on an exceptional woman? In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. 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]." Sustainability, another pressing topic for fashion brands to consider alongside growth, is a priority, Bellettini says. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Now Dravida, also the firm's chief executive, is conducting research trials to treat a number of debilitatingconditions, including rheumatoid arthritis, muscular dystrophy, and stroke. 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. Cross selling requires more time. Eileen Fisher is trying to raise the bar for sustainable fashion. 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. 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. The rue de Bellechasse headquarters was the idea of Francesca Bellettini, president and CEO of Yves Saint Laurent. At a time when fashion is all about body positivity, Saint Laurent put thin models on the catwalk of its recent show. She took it to that level within a three-year period.. 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. 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. "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. You have to know where you want to go, she said. 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.. FRANCESCA BELLETTINI. Nonetheless, the brand attracts luxurys coveted younger consumers. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. 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. 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. 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. The enshittification of apps is real. The decision was to invest. 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. In the summer of 2013, Slimane announced his bold decision to rename a fashion house that had been a fixture of the luxury scene for over half a century. 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. Indeed, Bellettinis commitment to a balanced approach has made Saint Laurent the star of parent company Kerings vast portfolio of luxury brands. Despite this, Bellettini stated that they are stronger than ever as a brand. I could spend all day in here, Vaccarello says. 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. In the luxury group's2018 full-year results, Saint Laurent reached sales1.74 billion, a 16.1 percent increase in reported growth. Slimane leaves Saint Laurent, and Anthony Vaccarello is named. 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. This has been a big strength during the pandemic, when tourism stopped. You can unsubscribe at any time. Moderated by Emma Rosenkranz 23, vice-president of Fashion@Brown, and Dani Siegal 24, social media coordinator, Ms. Bellettini gave an inspiring talk which spoke to her courage, integrity, and drive. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris.CreditMarco Cella for The New York Times. To win local customers, Saint Laurent invested in sales staff training. It helps that were open, that we tend to smile, that we have this funny accent, she said, smiling. 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 stressed the importance of finding those special people along who you can trust. In a second, I said, Yes! Then I said, You know I dont speak French, right? and he said, I know that. 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.