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You will be charged , who was succeeded by Anthony Vacarello in April 2016. 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. 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. Bellettini has achieved this global reach through a keen focus on developing local markets. The fired Google engineer who thought its A.I. However, under Francesca Bellettini's guidance, the rebadged Saint Laurent has been remarkably successful. In a second, I said, Yes! Then I said, You know I dont speak French, right? and he said, I know that. First its for the people of the industry and then its for the people that look at the industry. 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. All rights reserved. This business model is something Bellettini argues helps the brand to get back to its core essence as a fashion house. This documentary-style series follows investigative journalists as they uncover the truth. Bellettini put a significant value on company culture. The name Yves Saint Laurent is iconic within the fashion realm, and the client base is loyal, but having to stay relevant and to attract the next generation of customers is why the rebranding was so drastic and became so controversial. Now, we have arrived at a level of quality that is so high that we can use them for trimmings of some products. Already, as soon as Vaccarello arrived, they had made the decision to always wait one year to mark down the current collection. 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. Nonetheless, the brand attracts luxurys coveted younger consumers. He and Ms. Bellettini speak to each other in English but sometimes send text messages in Italian. Saint Laurent still has white space to open stores, develop in Asia and reinforce cross-selling across product categories, says Ortelli. PARIS The Vogue Paris Fashion Festival gathered industry voices from heritage brands to startups; traditional retail to digital; casting agents to supermodels. President and Chief Executive Officer, Yves Saint Laurent. With the house on track to end 2021 with sales over 2 billion, CEO Francesca Bellettini believes the brand can rise even further. I said, I met Mr. Bertelli and he offered me the job of my life, and I can leave banking, she recalled. Fashion has never been so competitive. To receive the Vogue Business newsletter, sign up here. That mindset is reflected in what Saint Laurent does as much as what it chooses not to do. 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. 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. Bellettini is a remarkable woman. In 2008, she joined Bottega Veneta and became Worldwide Merchandising and Communications Director in 2010. 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. At the forefront of this strategy is balance. 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 . Creative director Hedi Slimane left to take the reins of Celine and she recruited Vaccarello to succeed him. Non-Executive Director at Ferrari - View - Ferrari org chart. Bellettini decided that experience in finance would bolster her chances of pursuing her dream of running a company -- and so, she dove into a very new universe of Goldmach Sachs International. Well, it turned out they didnt know much. and other data for a number of reasons, such as keeping FT Sites reliable and secure, In 1977, following the meeting with her husband Bertelli who is still her right-hand today, Miuccia quickly revolutionized the concept of Haute Couture, introducing the concept of sportiness in a world that previously looked at it as a parallel universe. Moreover, Bellettini called for everyone to be ambitious but never impatient; experiences take time to be made. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. 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. 29 November 2018. 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 also believes that no job is a waste of time, even if we have to deal with bosses that we do not like. 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. 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. 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. 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. It was an anecdote from the early times of her career when she attended a meeting. Our duty is to know what's going on in the supply chain and control it in the best possible way. Bellettini joined Yves Saint Laurent from Bottega Veneta. How Saint Laurent Became a $3 Billion Powerhouse. Sustainability, another pressing topic for fashion brands to consider alongside growth, is a priority, Bellettini says. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. 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. Their brand offers an escape to people, which during this unparalleled time in our world, is vital. Simply log into Settings & Account and select "Cancel" on the right-hand side. She was appointed president and CEO of Yves Saint Laurent in 2013. Specifically, by handing greater autonomy and authority to local market chiefs, the brand has been able to connect far better with audiences in each region. 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. $ + tax Our Q3 performance in China was very strong, with excellent growth in-store and online. Mr. Vaccarello and Ms. Bellettini have since become soul mates. 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. Indeed, this focus on gender parity has been a key element of the brand since the very start, with Saint Laurent himself believing men and women should wear the same clothes. Nevertheless, Bellettinis success was not easy to achieve. Bellettini encouraged everyone to always be curious. But I dont have to do something to please someone or some client.. Offers may be subject to change without notice. The Saint Laurent head office is based on Rue de Bellechasse in Paris. A University of East Anglia researcher, Helen Bear, is developing technology to enable computers to read lips. Already a member? Saint Laurent wanted to be a billion-dollar company. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. Yet, this also meant that they could not hire more people either. 2023 Fortune Media IP Limited. (Personal luxury goods sales dropped 22 per cent at the time, according to a Bain Altagamma study.) Elon Musks Twitter is dying a slow and tedious death, Who to fire? Two Days Mattered Most. In the luxury group's2018 full-year results, Saint Laurent reached sales1.74 billion, a 16.1 percent increase in reported growth. 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. She was a villain, then an icon. You have to know where you want to go, she said. She took it to that level within a three-year period.. Comments, questions or feedback? In his new novel, Tracy Flick Cant Win, author Tom Perrotta asks: Who is Tracy Flick now? 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. One Year with Print $8.95 Per month Billed annually at $107.40 Cancel anytime Indeed, the CEO of French fashion house Yves Saint Laurent, Francesca Bellettini, came to realize the storied firm. She worked at Prada and Helmut Lang prior to. Virtual reality and sports seem like polar opposites. As a subscriber, you have 10 gift articles to give each month. Bellettini joined YSL during a crucial time in its development. 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. Bellettini noted how, guided by YSLs commitment to its team, they managed to not fire anyone during the COVID-19 pandemic. 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. Bellettinis laser focus and operational skills helped Saint Laurent thrive during the pandemic period that could have even should have left it vulnerable, as the world shifted to staying home and wearing sweats. She had always loved fashion, but the job came with a 50 percent pay cut. She has been the chief executive officer of Yves Saint Laurent since 2013. The ad campaign had almost run its course, and Saint Laurent did not respond to the criticism. 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 . There, on the driveway at the edge of the sidewalk, the cobblestones under our feet rumble as we slowly start to descend: It turns out to be a platform elevator that takes us down, Bond-villain style, to a small parking lot. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris.CreditMarco Cella for The New York Times. Continuity candidate This massage technique is attracting fans across Hollywood, including Ariana Grande, Kourtney Kardashian and Sean Diddy Combs. In 2013, she became President and Chief Executive Officer of Yves Saint Laurent. A great sales force can make a difference, in terms of proposing a silhouette. Francesca Bellettini (FB): Saint Laurent's retail performances in China absolutely surpassed the pre-COVID-19 situation, boosted by Chinese consumers buying locally. Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers. To win local customers, Saint Laurent invested in sales staff training. The scientific advance could aid people with recent hearing loss. 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. In 2019 she was awarded the French Knight of the Legion of Honour, the highest possible distinction for a civilian in the country. 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.. 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. One of the few female CEOs leading a fashion brand, Francesca Bellettini started her career as an investment banker before switching industries. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. Join Facebook to connect with Francesca Bellettini and others you may know. Thats when Mr. Pinault noticed her.