Saint Laurent is on fire. The French luxury brand, helmed by designer Anthony Vaccarello, recently reported a 49% surge in sales for the first three months of 2019. That works out to approximately half a billion dollars in revenue from January to March alone. This follows similarly strong results for 2018, when Saint Laurent experienced its best-ever performance and became the fastest-growing brand at parent company Kering. Saint Laurent has been on a tear over the past few years now and there’s no sign of it stopping any time soon. But what’s behind this meteoric rise? Has Saint Laurent truly earned that $3 billion valuation? How did it go from being perceived as stale—just another French fashion house—to one of the most exciting names in luxury today? We’ll explore these questions, as well as how Kering continues to be one of the smartest players in luxury retail today, helping turn great brands into lifestyle powerhouses worth billions.
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A new book examines the company’s ups and downs since Mr. Laurent’s retirement in 2002.
A new book examines the company’s ups and downs since Mr. Laurent’s retirement in 2002.
Published by Rizzoli, “Yves Saint Laurent: The Perfection of Style” by Lizzie and Matthew Collings is a stunning visual feast of iconic imagery from throughout the brand’s history. From its beginnings as a small Parisian couture house to its status as one of the world’s biggest luxury conglomerates today, the book explores how Yves Saint Laurent came to define how we dress today—and how his legacy continues to influence contemporary fashion.
Hedi Slimane, a designer at Dior Homme, took the helm at Yves Saint Laurent in March 2012.
Hedi Slimane, a designer at Dior Homme, took the helm at Yves Saint Laurent in March 2012.
Born in 1965 in France, Slimane has been a fashion designer since he was a child. He studied at the École des Beaux-Arts in Paris before working for Christian Dior Homme from 2000 to 2007. During his time there, he created several successful collections including “Rock Muse” and “Disco Fever” that were loved by critics and celebrity fans alike.
After Mr. Slimane left the brand, Anthony Vaccarello, formerly of Versus Versace, was named creative director in April 2016.
Saint Laurent has experienced a number of ups and downs since its founder Yves Saint Laurent died in 2008. After Mr. Slimane left the brand, Anthony Vaccarello, formerly of Versus Versace, was named creative director in April 2016.
Mr. Slimane’s designs were more edgy and rock n’ roll; his successor’s are feminine and romantic—a reflection of the change that has occurred at other houses like Dior and Valentino under new creative directors Hedi Slimane’s influence may have been for better or worse depending on your taste, but it certainly changed things at Saint Laurent.
The French fashion house Yves Saint Laurent was founded by Mr. Laurent and his partner, Pierre Bergé, in 1961.
Yves Saint Laurent was founded in 1961 by Mr. Laurent and his partner, Pierre Bergé. The French fashion house quickly became known for its bold use of color and prints, as well as its sharp tailoring.
In the 1960s and 1970s, Yves Saint Laurent was at the forefront of high fashion’s shift from a conservative silhouette to one that emphasized more voluptuous proportions on women’s bodies—a silhouette that would come to serve as the model for many popular brands today.
In 1999, the Gucci Group bought a controlling stake in the brand for $1 billion and went on to acquire the remaining shares from Mr. Bergé in 2001.
In 1999, the Gucci Group bought a controlling stake in the brand for $1 billion and went on to acquire the remaining shares from Mr. Bergé in 2001.
The money generated by this deal allowed Hedi Slimane to expand Saint Laurent’s reach into new territories and explore new facets of its DNA. The first major change he made was to resurrect the Rive Gauche brand, which had been dormant since 1994. He then introduced menswear into Saint Laurent’s offerings with his debut collection for Spring 2003 (which featured a leather motorcycle jacket that became an instant hit).
After the takeover by Gucci, Stefano Pilati became the artistic director at Yves Saint Laurent in 2004 and redesigned its logo as part of an identity overhaul.
After the takeover by Gucci, Stefano Pilati became the artistic director at YSL in 2004 and redesigned its logo as part of an identity overhaul. The Times New Roman-inspired serif lettering with red accents was replaced with Helvetica and black. The new logo also lost its serifs, which made it less ornamental but no less recognizable.
In 2009, Gucci rebranded itself as Kering as it acquired other luxury brands including Balenciaga and Alexander McQueen and spun off more commercial ones like Puma and Volcom.
In 2009, Gucci rebranded itself as Kering as it acquired other luxury brands including Balenciaga and Alexander McQueen and spun off more commercial ones like Puma and Volcom.
The company was founded in 1963 by French businessman François Pinault, who remains the majority shareholder through his holding company Artemis SA. In 2017, he was ranked No. 4 on Forbes’ list of billionaires with a net worth of $44 billion. The next year, Pinault’s daughter Salma Hayek became a board member at Chanel following her purchase of a 9% stake in LVMH Moët Hennessy Louis Vuitton (the parent company of both brands).
Despite Mr. Pilati’s success at YSL — revenues reached a high of $800 million during his tenure — he was replaced by Mr. Slimane in 2012.
Despite Mr. Pilati’s success at YSL — revenues reached a high of $800 million during his tenure — he was replaced by Mr. Slimane in 2012.
Mr. Slimane’s first collection was shown in Paris in October 2012, and it was well received by critics, but sales have been less than stellar. In the first three quarters of 2016, Saint Laurent posted revenue growth of only 4 percent compared with the same period last year, to about $1 billion. Sales are still down from 2014, when they were near $1.2 billion before declining sharply due to Mr. Slimane’s departure from Dior Homme (as well as ugly legal battles over creative control).
Conclusion
Through all this, Saint Laurent has managed to cultivate an image of cool. But it’s not just about being cool, it’s about having substance and history behind your brand. That will never go out of style.
