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You can unsubscribe at any time. The fundamentals are even stronger, Bellettini says of the luxury houses current business, speaking in an exclusive Vogue Business interview at her marble-clad office in Paris. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 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. That, to me, has been what makes her such a wonderful CEO, especially in a creative field like fashion, said McInnes. Bellettini appointed Anthony Vaccarello as creative director in 2016. 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. Bellettini noted how, guided by YSLs commitment to its team, they managed to not fire anyone during the COVID-19 pandemic. 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. Miller, who was born in Guyana, says,"I believe that level of abuse means I am doing something right for investors.". Twenty-nine years old is a little early to do a job for money. Frances advertising watchdog asked Saint Laurent to modify two ads. In a second, I said, Yes! Then I said, You know I dont speak French, right? and he said, I know that. He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking Italian. Its a cascade. Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers. 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. Secondly, as a brand, YSL has set a clear strategy dedicated to never making compromises and executing meticulously. Do whatever you like. She took the job. They talk just about every day, share vacations and some weekends, but rarely appear in public together. university 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. Working with her is enriching, Mr. Vaccarello said. Though she declined to disclose a more ambitious goal herself, industry sources say it wants to become a 5 billion brand in time. Yet, this also meant that they could not hire more people either. Our duty is to know what's going on in the supply chain and control it in the best possible way. How Saint Laurent Became a $3 Billion Powerhouse. Mr. Vaccarello and Ms. Bellettini have since become soul mates. . (For example, we would never do gaming simply because its something Generation Z is into. Its no longer about brand loyalty so much as in being at the forefront of peoples minds, said Gail McInnes, fashion industry expert and CEO of Stylist Box. Some mourned the YSL moniker, while others embraced the freshness of the new name and new look. Comments, questions or feedback? Reach out to me, at: laura.cohn@gmail.com or @laurascohn. 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. Bellettini said that rather than trying to craft a personality far from your true self in order to win the interview, authenticity is key. It is only then can we find long-term joy and success. The fired Google engineer who thought its A.I. You will be charged Despite a heavy workload and "massive" pressure, she said she feels secure in her career. This is why we are less vocal. 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. But in one areapublic relationswomen appear to dominate. 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. Bloody hell!. Please see our privacy policy for more information. Since 2012, Saint Laurent Paris, formerly known as Yves Saint Laurent, has boasted double-digit year-on-year growth. 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. A seasonless strategy favouring evolution over revolution has hammered home the brand's message to consumers. Ms. Bellettini, 47, not only has propelled the brand into the exclusive billion-euro club a status unofficially codified last season when the Saint Laurent show was moved to the shadow of the Eiffel Tower but in doing so has also made herself one of the most powerful women in fashion, where there are only a handful of female chief executives. 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. Bellettini also shared how she still does not speak French. Creative director Hedi Slimane left to take the reins of Celine and she recruited Vaccarello to succeed him. Eileen Fisher is trying to raise the bar for sustainable fashion. The company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. Ms. Bellettini said that she received a stream of hate emails, including one calling her a whore. The brand also completely stopped making public markdowns during the pandemic. And she doesnt speak French. 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.. I never have the feeling that we should do something different.. He is a good cook; she is not, so he sometimes invites her over for pasta. Bellettini also believes that no job is a waste of time, even if we have to deal with bosses that we do not like. Bellettini joined Yves Saint Laurent from Bottega Veneta. And they certainly didnt know her. They are reluctant to be targeted.. Anyone can read what you share. The reality, however, has proven to be very different. (if applicable) for The Wall Street Journal. When I had to replace Paul Deneve as C.E.O. Some people dont believe it, but Anthony was the only one I met for the job.. To receive the Vogue Business newsletter, sign up here. ", Kering CFO Jean-Marc Duplaix said during the earnings call that Saint Laurent had much room to grow further to a higher degree of penetration in certain markets: Globally speaking, the growth is very well balanced as it has always been the case at Saint Laurent between like-for-like growth and space expansion. China is still an important region. Good morning, WMPW readers! The enshittification of apps is real. If I can be honest, I dont think that today that campaign would even be shot.. 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. Certainly, Bellettini deserves to be recognised as one of the most influential leaders in fashion today. 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Silicon Valley always seems to be abuzz about the limited number of womenin the tech industry. 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. Bellettini became the Strategic Planning Director and Associate Worldwide Merchandising Director of Gucci in 2003, the Worldwide Merchandising and Communications Director of Bottega Veneta in 2010, and the President and Chief Executive Officer of Yves Saint Laurent in 2013. You can still enjoy your subscription until the end of your current billing period. Sign up to our newsletter for a truly global perspective on the fashion industry. 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. She is determined never to panic or bow to public pressure out of fear. 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. The chef worked in kitchens for over 20 years before buying The French Laundryand has a secret hack for ordering In-N-Out fries. An Italian woman who had never run a company, lived in Paris or learned the unwritten codes of French society, she was considered a strange choice to become chief executive of Yves Saint Laurent, the ultimate French brand, in 2013. And she had done it all while navigating the departure of Saint Laurents star designer, Hedi Slimane, and the transition to a relatively low-key unknown, Anthony Vaccarello, a change of creative leadership that had the industry predicting disaster for the brand. 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 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. 2016 Saint Laurent achieves 26 per cent year-on-year growth. People from her region have a disarming way of speaking that makes them sound playful even when they are dead serious. Saint Laurent is never too skewed vis--vis anything vis--vis a product category, vis--vis a channel because we really believe in balance. He asked me did I want to be C.E.O. Compare Standard and Premium Digital here. 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. 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. Moderated by Emma . 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. 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 . Have a good Tuesday! This massage technique is attracting fans across Hollywood, including Ariana Grande, Kourtney Kardashian and Sean Diddy Combs. It was pissing me off a little bit, she said. YSL continues to grow that number. Later, at the investment bank Deutsche Morgan Grenfell in London, she helped pitched deals to luxury fashion houses, and in the process met Patrizio Bertelli, chief executive of the Prada Group. The biggest move to bring clarity back was changing the brand name. Comedienne Amy Schumer makes the cover of Vanity Fair, Trump supporters sell 'Trump That Bitch' t-shirts depicting Hillary Clinton as the businessman candidatestruggles to attract female voters, Women will grace 5 pound and 10 pound notes in Scotland, Howa woman rose to senior product manager from customer support at Etsy, Fire departments in the U.S. turn to women volunteers, Designer Christine Kendall sues Alexander McQueen over Duchess of Cambridge's wedding dress, actress Helen Mirren, reflecting on a lack of roles for women in movies. We use He and Ms. Bellettini speak to each other in English but sometimes send text messages in Italian. Saint Laurent CEO Francesca Bellettini's big ambitions Saint Laurent is the new rising star at Kering. She joined the famous Parisian house, replacing Paul Deneuve, at a crucial time in its development. 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. Sexy concepts 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. We knew that this was a super-healthy girl who had been working with us forever and we didnt see anything bad, Ms. Bellettini said. Smaller categories such as silk, jewellery and eyewear are also booming, contributing to growth. Her father, whom she adored, was an accountant at a lumber company; her mother, a school administrator. It was a very ironic, very playful way to present stilettos and boots, she said. According to the fashion house's CEO, Francesca Bellettini, the Vaccarello era at the fashion house will be a .