Fashion: the decade in retrospect



The end of the last decade was wild. We partied because it really was 1999, we sincerely believed the world's technology would crash thanks to Y2K and we looked forward to being happier, wiser and more enlightened during the 21st century. Ten years on, in less apocalyptic mood, most of the world's endeavours haven't quite worked out like that, and as we reflect on its events, this decade's turn will, for many, be marked sotto voce.

Fashion, though, lives entirely in the moment. Ask a fashionista to look back at the previous decade and ahead to the forecasted trends and she will be certain that the exact combination of shoulder-width, skirt-length and heel-height that she is wearing right now represents the Platonic ideal of style. In fact, she can't think what she was doing all those months ago when she emulated Gwyneth Paltrow's platform booties with bare legs. She knows better now, of course and there's no way she'll be buying those frumpy kitten heels: those are for fashion victims.

Delusional? Perhaps, but excellent news for fashion anthropologists who look to costume to reflect wider trends in society. So what did the last decade's clothing trends tell us about the world? Oh so much. Thanks to fast fashion, retail has become responsive to every mood and necessity, from dealing with an unseasonably warm winter (climate change, anyone?) to anti-war sentiment (keffiyehs on student campuses and in H&M stores the world over).

From the heights of conspicuous consumption to the depths of recessionista austerity, in the developed world fashion in the Noughties has consistently held up a mirror to society's movements. Let's take Boho as an example. In its many incarnations, boho can be seen as the prevailing style of the Noughties. When it first started to filter through, back in 2000, it was as a reaction to the futuristic fabrics, linear cuts, icy colours and glittering ostentation of millennial fashion, the apotheosis of Nineties minimalism. This was the peak of Hussein Chalayan's conceptual clothing engineering, and spiritual puritanism was vying with a slightly reckless search for excess, courtesy Versace. But the catwalks of Dolce & Gabbana saw long, hippyish lines and bright colours, while the king of Boho, Matthew Williamson, was at the height of his powers.

Fashion has a symbiotic relationship with music and art, and these movements went hand in hand with trends in those areas: the synthetic sounds of Britney Spears, Steps and Robbie Williams slowly being superseded by the lo-fi likes of Strokes and the Dandy Warhols, and the marketing-heavy contemporary art scene being challenged by graffiti artists such as Banksy and Blek Le Rat. Socially, the (false, as it turns out) promise of the Y2K millennial meltdown had kicked off a certain back-to-basics nostalgia to counter the optimistic futurism of 1999. Survivalists in the US took to the hills, armed with guns, ready to defend their belongings against the expected looters, while even in the suburbs of the West people stocked up on water, tinned food and petrol. Sure everyone felt a bit foolish the next day, when the technological infrastructure remained intact, but it had its effect: people began to cocoon, to seek comfort and creative fulfilment in their lives - and, of course, in their clothes.

All of this grew together over the next few years into an explosion of Bohemian style that manifested itself in one iconic (and subsequently derided) figure: Sienna Miller. The paparazzi was on to the actress simply because she was the then girlfriend of the actor Jude Law. But her big, floppy hats, droopy dresses under shearling gilets, Ugg or secondhand cowboy boots and mismatched jewellery caught the attention of fashion editors and she began to be photographed more than Law himself.

The look of Miller and her friends - the Primrose Hill set of young British actors, models and publicists such as Kate Moss and Meg Mathews - was reflected by the Rachel Zoe crowd in LA and their counterparts around the world (think giant sunglasses, chiffon tunics and flowing curls) and was quickly put into production by the fast-fashion likes of Topshop, H&M and New Look, making Boho the defining look of the high street.

Consequently, it was dropped like a hot coal by the fickle fashion set after just a couple of seasons, but its influence has continued to reverberate through the decade, and not just because the public continued to hold onto its easy-to-wear style in defiance of the edicts of Vogue. It has been reinvented again and again and has now, in the form of the music-festival uniform of skinny jeans or tiny shorts, wellies and straw trilbies, transformed into more of a state of mind than a style. It is alternative, shambolic, fun, young, wacky and, most of all, eclectic. It is, to apply one of the decade's favourite internet memes, pirate rather than ninja.

That free-spirited style was of the driving factors for the other huge obsession of the decade: vintage fashion. Previously the reserve of students scouring charity shops for cheap togs and fashion historians collecting fine textiles, vintage was suddenly the watchword for all right-thinking fashionistas, whether their style was boho, retro, classic or super-chic. Actresses and designers interviewed in magazines professed their longstanding love of flea markets and Didier Ludot, simultaneously emphasising both their high-fashion credentials and their individualistic, creative outlooks. John Galliano was regularly spotted with his entourage in Camden market, fashion museums and archives were rifled for inspiration and, for the rest of us, those cowboy boots only worked if they were 20-year-old handmade eelskin JB Hill ones sourced from Texas.

Of course, vintage fashion was not new - think the thrift-store grunge of the previous decade for example - but this time it was different: vintage, not secondhand. The popularity of Dita Von Teese and the burlesque movement reminded us of the wonderful glamour and quality of curvy frocks and feminine accessories from the Forties and Fifties. When actresses such as Renée Zellweger, Reese Witherspoon and Julia Roberts took to wearing va-va-voom vintage pieces by Dior, Dessés or Valentino to film premieres, it prompted another defining feature of the Noughties: red-carpet fabulosity.

Arguably Jennifer Lopez laid the ground for this with the incredible jungle-print Versace dress she wore to the Grammys in 2000, while Halle Berry's burgundy Elie Saab number, worn to accept her Oscar for Monster's Ball, captured the public imagination more than any of the boring classic black sheaths so popular in the safe Nineties. In fact, Saab and his younger compatriot Zuhair Murad would become two of the the top choices for those looking to cut a dash on the the red carpet, with the voluptuous likes of Beyoncé making the most of their supreme cutting skills.

Year by year over the last decade, the red carpets have played host to more and more sparkle, with Drew Barrymore and Anne Hathaway emerging as two of the most consistently interesting and stylish dressers. The other big story with the red carpets, of course, has been the jewellery: the return of bling, with ever-increasing piles of ice being loaned to actresses for premieres dominating the urban music scene of the Noughties.

With bling, diamonds have become the favoured indicator of extreme wealth, being applied to every spare body space, from ears and teeth to shoes. Taste simply does not come into it. The "get rich or die tryin'" mantra of the New York rapper 50 Cent could be the battle cry for the brand-mania that took over so much of the retail scene in the Noughties. With hindsight from the shell-shocked gloom of a recession, we can be certain this was not purely about fashion: the Hermès-upholstered helicoptors and supercars were the boys' toys. Logomania and the frenetic name-checking of brands - Jimmy Choo, Vuitton, Dior, Burberry - boosted an immense counterfeiting industry catering to the hordes of high-street shoppers wanting to be seen with exclusive monogram-style bags the likes of which only 40 million other people own. More to the point, it gave rise to a mountain of debt as we put our lives in hock for a Dh70,000 Balenciaga frock because we felt, to paraphrase Jennifer Aniston, that we were worth it.

Indeed, over the last few seasons the huge shoulders and bandage dresses of the original conspicuous consumption have made a comeback, but it seems that this incipient trend may become a victim of the recession too: for 2010 things are much gentler and lighter. Such was the madness of women's fashion. Men, as ever, fared better. Save for the occasional dip into the waters of faddishness - pink polo shirts, mohawks and mullets, bow ties, winklepicker shoes - men's fashion could be divided into four basic styles: retro tailoring, urban sportswear, indie-rocker grungy and nerd chic. The slick and the stylish adopted the Savile Row-style suit, and rediscovered a fascination with wool gauge, shoe shine and lapel width. The hip hop and R&B crowd went for boxfresh sneakers, engineered jeans and crisp white jackets or faux-, à la Justin Timberlake and Kanye West. Skinny black jeans and vintage band T-shirts were the uniform for fans of music ranging all the way from the Strokes to Busted. And for those who aspired to the geek-chic look of Seth Cohen from The O.C., a T-shirt with a facetious logo and a pair of heavy-rimmed glasses were crucial ingredients.

In fact, if you had one of the following items in any combination, you could be dubbed a stylish Noughties man: Vans, Converse, rare Nikes or Adidas Stan Smiths, crispy or skinny jeans, Japanese limited-edition tee, Panama, fedora, flat or trilby hat, Richard James jacket or blazer, Ray-Bans. And, as is inevitably the case in the slower-moving arena of menswear, all of these pieces will take you very comfortably into the next decade.

Some of those who were pulled into the shopping vortex during the good times may be old enough to remember the last time the luxury bubble burst, almost exactly 20 years ago. The wild excesses of the Eighties (remember the yuppies and Gordon Gecko?) were smashed by a world recession and the post-party clean-up made room for minimalism, disaffected grungy youths and hedonistic teens. As the clock strikes 2010 and the social pendulum starts to swing back, it takes no great leap of imagination to predict fashion's next direction.

Australia World Cup squad

Aaron Finch (capt), Usman Khawaja, David Warner, Steve Smith, Shaun Marsh, Glenn Maxwell, Marcus Stoinis, Alex Carey, Pat Cummins, Mitchell Starc, Jhye Richardson, Nathan Coulter-Nile, Jason Behrendorff, Nathan Lyon, Adam Zampa

The specs: 2018 BMW R nineT Scrambler

Price, base / as tested Dh57,000

Engine 1,170cc air/oil-cooled flat twin four-stroke engine

Transmission Six-speed gearbox

Power 110hp) @ 7,750rpm

Torque 116Nm @ 6,000rpm

Fuel economy, combined 5.3L / 100km

What is an ETF?

An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.

There is no fund manager deciding which stocks and other assets to invest in, instead they passively track their chosen index, country, region or commodity, regardless of whether it goes up or down.

The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.

There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.

While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash. 

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: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now

Fourth-round clashes for British players

- Andy Murray (1) v Benoit Paire, Centre Court (not before 4pm)

- Johanna Konta (6) v Caroline Garcia (21), Court 1 (4pm)

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.”

UAE currency: the story behind the money in your pockets
THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

The biog

Fatima Al Darmaki is an Emirati widow with three children

She has received 46 certificates of appreciation and excellence throughout her career

She won the 'ideal mother' category at the Minister of Interior Awards for Excellence

Her favourite food is Harees, a slow-cooked porridge-like dish made from boiled wheat berries mixed with chicken

Hamilton profile

Age 32

Country United Kingdom

Grands Prix entered 198

Pole positions 67

Wins 57

Podiums 110

Points 2,423

World Championships 3

Without Remorse

Directed by: Stefano Sollima

Starring: Michael B Jordan

4/5

The bio

Academics: Phd in strategic management in University of Wales

Number one caps: His best-seller caps are in shades of grey, blue, black and yellow

Reading: Is immersed in books on colours to understand more about the usage of different shades

Sport: Started playing polo two years ago. Helps him relax, plus he enjoys the speed and focus

Cars: Loves exotic cars and currently drives a Bentley Bentayga

Holiday: Favourite travel destinations are London and St Tropez

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
The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now