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. Mr. Vaccarello and Ms. Bellettini have since become soul mates. Well, it turned out they didnt know much. For cost savings, you can change your plan at any time online in the Settings & Account section. 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. 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. When she arrived from another Kering brand, Bottega Veneta, in 2013, the. She doesnt use mascara or foundation. Anyone can read what you share. 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. Yet, what was most eye-opening was when Bellettini explained that, in fact, we must focus on choosing a job that suits us the most; we must focus on finding work that ignites a spark. PARIS Francesca Bellettini doesnt style her hair. Francesca Bellettini has achieved the impossible with Saint Laurent. At present, 15 percent of Saint Laurents global customer base is in Europe, 20 percent is in China, 15 percent is in Japan, 20 percent is in the rest of Asia, and 17 percent is in the US, with the remainder spread throughout the rest of the world. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 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.. From 2008 to 2013, she worked at Bottega Veneta, eventually as worldwide merchandising and communications director. 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. Bellettini will succeed current chief executive Paul Deneve, who after two years at the head of the luxury fashion label is leaving for a position in the technology industry in California . Check if your 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. Already a member? Im obsessed with two things: local customers and comp growth, says Bellettini. When the number of Chinese tourists coming to Paris plummeted in the aftermath of terrorist attacks in January and November of 2015, Saint Laurent refocused its Paris stores on attracting France-based clients and ramped up the business in China. For me, this is a balance between creativity, merchandising and business, added Bellettini. When you are at 2 billion, to think of potential at 3 billion is too easy, she says. Its one thing to have a strong brand and brand messaging, but that is lost within itself if it isnt carried throughout every level of the business, McInnes explained. 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. But when BoF founder and editor-in-chief Imran Amed asked Bellettini what she . The companys enviable performance can, in large extent, be attributed to a drastic and unexpected rebranding. For more information read our Terms & Conditions and Privacy Policy. The oldest executive at Kering SA is Baudouin Prot, 69, who is the Director. The luxury house is known for its formalwear and sharp tailoring. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. personalising content and ads, providing social media features and to Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. 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. View the profiles of people named Francesca Bellettini. Her poise, her elegance, her drive, all with an overwhelming optimism. The fired Google engineer who thought its A.I. 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. Indeed, Bellettinis commitment to a balanced approach has made Saint Laurent the star of parent company Kerings vast portfolio of luxury brands. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. (if applicable) for The Wall Street Journal. 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. Francesca Bellettini is also on the board of Technogym SpA, Yves Saint Laurent UK Ltd. and Ferrari NV. You may change your billing preferences at any time in the Customer Center or call Francesca Bellettini: The Powerhouse Behind the Billion-Dollar Brand. During the later stages of the conversation, when asked about the secrets of her success, she elaborated on how the relationship between the creative and business parts of a fashion brand is the single most important factor. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. My Lover, My Son: Dirigido por John Newland. When asked about how the COVID-19 pandemic has impacted YSL, Bellettini mentioned on a personal level she feels her team is working around the clock, yet are lacking the energy of social interaction due to various restrictions including a 6PM curfew. One featured a model in a fur jacket and fishnet tights reclining with her legs spread wide open; the other, a model in a leotard and roller-skate stilettos bending over a stool. Saint Laurent wanted to be a billion-dollar company. 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. But she did not pull the ads. 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. 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. $ + tax This was a further step, she says. The ad campaign had almost run its course, and Saint Laurent did not respond to the criticism. The company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. 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. 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. 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. Francesca Bellettini was appointed president andchief executiveof Saint Laurent in July 2013. FORTUNE may receive compensation for some links to products and services on this website. He was required to sign a confidentiality agreement. From left, Ms. Bellettini; Anthony Vaccarello, creative director for Saint Laurent, and Franois-Henri Pinault, chairman and chief executive of Kering. To receive the Vogue Business newsletter, sign up here. 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. It earned the brand criticisms. 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. Miller, who was born in Guyana, says,"I believe that level of abuse means I am doing something right for investors.". We use This documentary-style series follows investigative journalists as they uncover the truth. Still, she acknowledged, It is sometimes true you dont consider the circumstances in which things happen.. It was pissing me off a little bit, she said. could be sentient says Microsofts chatbot feels like watching the Shark Tank investor Kevin OLeary says a new generation of employee has never worked in an officeand its totally I cant afford to sell because I dont want to lose that rate: 3% mortgage rates will loom large over the U.S. CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. 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. . 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. Copyright 2023 Surperformance. 29 November 2018. You can still enjoy your subscription until the end of your current billing period. Lauren Sherman. 787 Francesca Le Photos and Premium High Res Pictures - Getty Images All Entertainment News Archival Browse 787 francesca le stock photos and images available, or start a new search to explore more stock photos and images. Mr. Vaccarello and Ms. Bellettini have since become soul mates. People from her region have a disarming way of speaking that makes them sound playful even when they are dead serious. 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. She took it to that level within a three-year period.. One question asked Bellettini what she most enjoyed about her job. It makes us simpatico. The worst thing you can do with your teams is to create a culture of fear.. When I met him, I was incredibly impressed that he was not at all afraid of the challenge. It isn't easy. 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. Saint Laurent still has white space to open stores, develop in Asia and reinforce cross-selling across product categories, says Ortelli. He gives you autonomy within a framework., Ms. Bellettini relied on her Italian identity to navigate the alien culture of Paris. 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. Can New Bottega Balance Hype, Heritage and Rapid Growth. 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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. Nevertheless, Bellettinis success was not easy to achieve. Bellettini notes that tourists and local customers shop differently: tourists are in search of a better price but know what product they want, while locals are more selective. Saint Laurent opened its first flagship in China in 2019 and the network is being expanded in the country. While she was working as an investment banker, the fashion industry was flourishing. offers FT membership to read for free. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace.
