The manager has been leading Yves-Saint Laurent since 2013 (over 3 billion in revenues) and is now preparing to take the reins of the Kering group
The French luxury group Kering announced major changes in its organization, including departure Of Marco Weirdmanaging director of Gucci since 2015 and a member of the executive committee since 2012. His departure from the company is probably the most significant news, but it’s not the only one. Instead of him, Jean-Francois Palusexecutive vice president of Kering, has been appointed CEO of Gucci for a transitional period. Frances BellettiniCEO of Yves Saint Laurent since 2013, was instead promoted within the group and appointed deputy general manager responsible for the development of its Houses. The group has stated that, to ease the transition, Bellettini will gradually assume his new role over the coming months, and has therefore set up a new management team. In the end, Jean-Marc Duplaixchief financial officer of Kering since 2012, has been appointed deputy general manager of the transalpine group and will be responsible for operations and finance.
Significant breakthrough
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These changes represent an important card shuffling for Kering, which is one of the world’s leading groups in the luxury sector. The departure of Bizzarri and the promotion of Bellettini reflect significant changes in the management of the group, necessary to face future challenges and maintain the leading position in the luxury market. The appointment of Duplaix as deputy general manager, on the other hand, suggests the growing importance of the financial management and some operations in the future of the group. “The CEOs of all the brands will report to her and she will be responsible for guiding all the fashion houses of the group in the subsequent phases of their development” explain from Kering. “Playing an essential role in multiplying Saint Laurent’s turnover by six since she took over, she has been a first-rate collaborator,” said François-Henri Pinault. The aim is to obtain “a more solid organisation, to fully grasp the growth of the global luxury market”.
who is Francesca Bellettini
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Originally from Romagna and present in the MPW Italia 2022 Fortune ranking, Francesca Bellettini holds a degree in Business Administration from the Mouthfuls and began his career in finance as an investment banker at London for major companies such as Goldman Sachs and Deutsche Morgan Grenfell. In 1999 she embarked on her career in the fashion industry, collaborating with Prada in the Business Planning and Development division, then with Helmut Lang as Operations Manager, and subsequently with Gucci in 2003 as Associate Worldwide Merchandising Director. In 2008 she joined Bottega Veneta, where in 2010 he assumed the role of Worldwide Merchandising and Communications Director. In 2013 she was appointed by Francois-Henri Pinault President and CEO of Yves Saint Laurent, where it led to a strong growth in the maison’s revenues, going from around 500 million at the time of his arrival to the current 3 billion. According to Kering, Francesca Bellettini has been able to establish a corporate culture that values and promotes values such as creativity, authenticity and flexibility, creating an exceptional – and lasting – growth spiral for the Parisian group. Under his leadership, Yves Saint Laurent’s revenues in 2022 amounted to 3.3 billion euros, with a 31% increase on an annual basis. House-owned retail sales grew 28%, while wholesale revenue grew 6%. In 2022, Yves Saint Laurent reported a recurring operating profit of over 1 billion euros. According to the data for the first quarter of 2023, closed with a positive result by the Kering Group, YSL led by Bellettini was the absolute protagonist of the growth, with an increase +8% equal to 806 million.
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