Actress Christina Ricci rubbed shoulders with model and photographer Helena Christensen at Valentino’s star-studded Resort 2018 show in New York last week. The duo took their seats alongside 200 clients and VIPs who were there to support the maison’s creative director Pierpaolo Piccioli as he unveiled his latest collection.
“I thought the show was divine and I don’t use that word often,” Ricci said following the show. “The collection was perfect, even dreamy, with everything done so tastefully. It summed up Valentino, which I would say represents amazing artistry, luxury and forward-thinking, while referencing tradition and history.”
The exclusive morning presentation was held in a chic loft in Zero Bond Street, in the city’s Noho district. Once a hub for New Wave punk – and having previously been home to iconoclasts like Andy Warhol and Jean-Michel Basquiat – the area was a fitting backdrop for Piccioli’s 65 looks.
At the strike of 10am, models weaved their way around the runway in a fluid collection of pieces in which hip-hop, punk and romanticism coalesced.
The soundtrack to Piccioli’s show darted from rap by Travis Scott, Kendrick Lamar and Drake to the minimalist compositions of Michael Nyman and the piano arrangements of Ilya Beshevli.
“I wanted to reflect the complexity and cultural richness of contemporary society,” says Piccioli. “I feel that my job is to represent the times through my vision of beauty. For me, beauty today is about individuality, diversity and a freedom to express yourself. Cities, suburbs and people are changing, there are new forms of artistic expression emerging – so I wanted to make a collection that’s perhaps more daywear than usual and is more ‘street’. It was the same for the location, I wanted it to have an intimacy and a point of view that was very much from the street and certainly not far from it.”
Piccioli’s stylistic vision for the cruise range was built upon four narrative blocks, the first of which was sportswear as the new de facto daywear. The second was the Italian designer’s “hip-hop” interpretation of familiar Valentino staples – reworking silhouettes, reimagining lines and volumes. The rise of multiculturalism in urban sprawls was another key influence for Piccioli, and his final creative foundation was a particularly nostalgic one.
“It’s all about the universal heritage of the brand,” he says. “For me there is a personal element to it. There’s romanticism and lightness to the collection, almost like something Mr Valentino would have himself created in the 1970s. To describe it in musical terms, I’m making new sounds from old aspects. That’s been my goal from the very beginning and in the final minute, just before the show, I felt happy I had achieved it. I have kept a particular style while reflecting Valentino in my personal way and in terms of how I see society today.”
Piccioli joined the Roman maison in 1999 with long-time creative partner Maria Grazia Chiuri. The pair was charged with reimagining the brand’s handbags and eyewear lines. Then nine years ago, upon the retirement of the company’s eponymous founder Valentino Garavani, Piccioli and Chiuri assumed the roles of co-creative directors. They are credited with having updated and reenergized Valentino’s many creative endeavours, from couture to ready-to-wear and menswear to accessories. Last year, following Chiuri’s exit to Dior, Piccioli took full creative control of the house.
“I love Mr Valentino, he is my maestro,” admits Piccioli. “I really love to hear from him after the shows, and he wrote to me just before you arrived saying how happy he was. It’s the very best compliment because he recognises that, as creative director, I’m doing something very different to what he did – managing the brand in a different way.
“I think that doing a ‘good job’ means respecting the heritage, craft, values and humanity of the brand. I also feel a great social responsibility in my role because so many people are involved in the company. And they support me every single day.”
Since Piccioli took the helm alone in 2016, he has admitted that his collections have become a little more spontaneous. He’s also still a fan of creative collaborations, having paired with British trailblazer Zandra Rhodes to devise prints for Valentino’s spring/summer 2017 line.
Inspired by designs from Rhodes's back catalogue and a triptych called The Garden of Earthly Delights by medieval painter Hieronymus Bosch, the prints adorned ethereal chiffon gowns and 70s-inspired crepe-de-chine frocks.
Piccioli revisited the Rhodes archive for his Resort 2018 Collection in New York, adorning jackets and dresses with her signature stamps from 40 years ago.
“He used my Egyptian leopard print and my lipsticks design,” said Rhodes after the presentation. “He kept secret which ones he would use until just before the show, so it was a wonderful surprise. I think he’s kept the collection incredibly feminine and highly wearable, with intricate detailing.”
Silk tracksuits billowed, trapeze dresses oozed street cool and versatile, boxy embroidered jackets were teamed with front-zip athleisure mini-dresses. Floor-length gowns appeared in stark minimalistic form as well as luxurious velvet and beaded fashion. And remaining true to the codes of the maison, Piccioli sent a tight edit of layered chiffon and tiered lace dresses before the crowd. Accessories-wise, feathered sports booties and Rockstud sandals with socks lent themselves to Valentino’s urban-elegant aesthetic for the pre-season.
“The studs have become a new signature of the house,” says Piccioli. “But I wanted to challenge perceptions of them and explore new territory. So, rather than them being gold and metal, they are white rubber and sporty. My intention is always to create clothes and accessories that allow women to remix and interpret them in their own way. Individuality is very important.”
Just like the client-muse he designs for, Piccioli is free thinking. He doesn’t fit the conventional couturier or ‘head of a house’ mould and, unlike many of his peers, he embraces the fashion industry’s densely-packed show calendar, thriving on the creative pressure. He also doesn’t feel the need to live in the Italian fashion hubs of Milan or Rome. Instead, he opts for a daily train commute from his seaside hometown of Nettuno, 60 kilometres south of Rome, where he lives with his family.
“I never stop thinking about collections, and finding a balance is not always easy, but it’s made easier by the people I have around me,” he says. “I’m very lucky to have a wife and three children that support me. They see that I am happy. If you feel good and love what you’re doing, I think that you can give back a lot more. That’s why it’s always important for me to go home.”
• To find boutique locations, see the Resort 2018 Collection and watch the live show from New York, go to www.valentino.com
rduane@thenational.ae
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The biog
Favourite car: Ferrari
Likes the colour: Black
Best movie: Avatar
Academic qualifications: Bachelor’s degree in media production from the Higher Colleges of Technology and diploma in production from the New York Film Academy
COMPANY%20PROFILE
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Company%20profile
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The%20Genius%20of%20Their%20Age
%3Cp%3EAuthor%3A%20S%20Frederick%20Starr%3Cbr%3EPublisher%3A%20Oxford%20University%20Press%3Cbr%3EPages%3A%20290%3Cbr%3EAvailable%3A%20January%2024%3C%2Fp%3E%0A
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
T10 Cricket League
Sharjah Cricket Stadium
December 14- 17
6pm, Opening ceremony, followed by:
Bengal Tigers v Kerala Kings
Maratha Arabians v Pakhtoons
Tickets available online at q-tickets.com/t10
'Midnights'
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UAE currency: the story behind the money in your pockets
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COMPANY%20PROFILE
%3Cp%3ECompany%20name%3A%20CarbonSifr%3Cbr%3EStarted%3A%202022%3Cbr%3EBased%3A%20Dubai%3Cbr%3EFounders%3A%20Onur%20Elgun%2C%20Mustafa%20Bosca%20and%20Muhammed%20Yildirim%3Cbr%3ESector%3A%20Climate%20tech%3Cbr%3EInvestment%20stage%3A%20%241%20million%20raised%20in%20seed%20funding%3Cbr%3E%3C%2Fp%3E%0A