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. Saint Laurent was the star of the Kering Groups most recent earnings publications. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. We see with the store reopening worldwide, we have a lot of younger customers coming, people in their 20s, buying gifts, etc., she says. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. 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. Getty. 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. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Bellettini put a significant value on company culture. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. At the forefront of this strategy is balance. Francesca Bellettini | Kering Saint Laurent opened its first flagship in China in 2019 and the network is being expanded in the country. 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. Francesca Le Photos and Premium High Res Pictures - Getty Images We are the only French couture house to be relevant in both menswear and womenswear. Mr. Vaccarello and Ms. Bellettini have since become soul mates. Eileen Fisher is trying to raise the bar for sustainable fashion. Francesca Bellettini is appointed president and chief executive. Simmenauer adds that the brands handbags in particular are timeless and well priced. 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. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. 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. She studied economics and business administration at Bocconi University in Milan, spending five months at the University of Chicago as an exchange student in her senior year, which forced her to quickly improve the limited English she had learned at school. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. 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. The biggest move to bring clarity back was changing the brand name. There are 12 older and 7 younger executives at Kering SA. Thats critical: Saint Laurent doesnt give into trends, not even to court the sought-after Gen Z customer. 2023 Fortune Media IP Limited. Its effective, also because the name is powerful.. The news sent shockwaves through the industry, with many interpreting the change as a sign of disrespect to the companys founder and namesake. They talk just about every day, share vacations and some weekends, but rarely appear in public together. Sign In. Virtual reality and sports seem like polar opposites. All rights reserved. She joined the famous Parisian house, replacing Paul Deneuve, at a crucial time in its development. When I had to replace Paul Deneve as C.E.O. Lauren Sherman. Standard Digital includes access to a wealth of global news, analysis and expert opinion. This inspired Bellettini to, in 1999, join the Business Planning and Development division of the Prada group. Consumers realised it and since the offer was already well-developed, they could find it in stores.. This generation doesnt appreciate being considered a target. Francesca Bellettini | BoF 500 | The People Shaping the Global Fashion 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. The reality, however, has proven to be very different. For a full comparison of Standard and Premium Digital, click here. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Biography of Francesca Bellettini - The Official Board This mistake turned into an important lesson, contributing to Bellettinis success in balancing the creative and business parts of the fashion brands she worked with based on mutual trust and respect. Francesca Bellettini is an Italian businessperson who has been the head of 8 different companies and currently is Chairman at Yves Saint Laurent of Monaco, Chairman of Yves Saint Laurent Parfums SAS, Chairman & President of Yves Saint Laurent SAS, Chairman at Yves Saint Laurent Logistica SRL, Chairman for SL Luxury Retail SRL, Chairman at Yves Saint Laurent Spain SA, Chairman of Yves Saint . Le grand appartement: Dirigido por Pascal Thomas. 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. Working with her is enriching, Mr. Vaccarello said. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. At a time when fashion is all about body positivity, Saint Laurent put thin models on the catwalk of its recent show. It is only then can we find long-term joy and success. 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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. Saint Laurent wanted to be a billion-dollar company. Francesca Bellettini began her career in London as an investment banker, working at Goldman Sachs International, Deutsche Morgan Grenfell and Compass Partners International. Sales have just hit the 1.5 billion mark; her ultimate goal is to double it. 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. In the luxury group's2018 full-year results, Saint Laurent reached sales1.74 billion, a 16.1 percent increase in reported growth. Investing veterans Deborah Jackson and Andrea Turner Moffitt connectfemale entrepreneurs with investors in a creative way with their firm, Plum Alley Investments. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices 2016 Saint Laurent achieves 26 per cent year-on-year growth. PARIS, France Kering, parent company of Parisian fashion brand Yves Saint Laurent, has announced that Francesca Bellettini will take the reins as the brand's new chief executive, effective September 1st. 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. Its part of the DNA of the brand, Bellettini told Business of Fashion (BoF) in an April 2016 interview. Will Others Follow? President and Chief Executive Officer, Yves Saint Laurent. Cathy Chai left her steady job in financeat a UN agencyin Beijing for a finance gig at Medecins San Frontieres (Doctors Without Borders) in war-torn South Sudan. 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. PARIS Francesca Bellettini is riding high.. But she did not pull the ads. Sustainability, another pressing topic for fashion brands to consider alongside growth, is a priority, Bellettini says. 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. The fired Google engineer who thought its A.I. Saint Laurent CEO Francesca Bellettini on the making of a $1bn brand Russia's war on Ukraine latest: Putin casts war as battle for nation's survival, India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, French media billionaire Niel fails with bid for TNT television frequence - Arcom. 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. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. As an Italian national, Bellettini grew up loving fashion and beauty, noting how her hometown, an influential street fashion hub, was inspiring. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. 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. The luxury house is known for its formalwear and sharp tailoring. 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. How Anthony Vaccarello and Francesca Bellettini took Saint Laurent to Yves Saint Laurent Names Francesca Bellettini CEO; Hedi Slimane - WSJ Hedi Slimane 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. 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. It was her fathers kind wisdom to follow her dreams at the young age of 29 that drove her to push away her fears and pursue a more uncertain path. All rights reserved. Bellettini, a former investment banker, had stints at Prada group and Helmut Lang. 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 . 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 . It earned the brand criticisms. In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. All rights reserved. Frances advertising watchdog asked Saint Laurent to modify two ads. Flexibility has been another. Well, it turned out they didnt know much. Though she declined to disclose a more ambitious goal herself, industry sources say it wants to become a 5 billion brand in time. Miller, who was born in Guyana, says,"I believe that level of abuse means I am doing something right for investors.". Some white space to reach its new target. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. 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.