Tommy Hilfiger has always been a master of a certain kind of American mythmaking. He was probably the first person to introduce the world to the aspirational Americana of glossy campuses, convertible Mustangs and endless East Coast summers.
Since launching his eponymous brand in 1985, Hilfiger has turned varsity stripes, nautical preppy codes and a deft sense of the pop culture zeitgeist into a multi-billion-dollar lifestyle empire. Unlike many of his peers, he’s never looked at fashion as a fortress of exclusivity – he has always made it feel like a block party.
“I think a laid-back element is what people want to show up in,” Hilfiger tells me during our chat in the newly refitted store at Mall of the Emirates. He’s seated with the ease of someone who long ago stopped needing to prove himself.
Even at 74, Hilfiger is still at it, as comfortable walking a store floor in Dubai as he is hosting front-row celebrities in New York. “The reason I’m where I am today is because I surrounded myself with incredible people.” He says it like a mantra, going some way to explaining his longevity.
Long before the term “brand collaboration” had PR departments salivating, Hilfiger was making overtures to musicians. In the 1990s, when streetwear was still largely subcultural, he made the bold move of dressing hip-hop stars such as Snoop Dogg and Aaliyah in his oversized logos. It was a move that scandalised the country club set and electrified everyone else. The result? A brand that wasn’t just seen, but worn, lived in, sung about. The clothes didn’t just sell, they belonged to the culture.
Hilfiger has built a career not only on good taste, but good timing. He knows when to amplify tradition and when to deconstruct it. “I don’t believe in fashion rules,” he says and perhaps that’s the secret to staying relevant across decades – knowing which codes to keep, and which to tweak.
“There’s a lot of exciting things going on in the culture,” Hilfiger says about what keeps him motivated. “Fame, fashion, music, sport. There’s never a dull moment. And that’s all part of the DNA. And I’m still having fun.” He says the last bit with a knowing smile.
He drops names like a man who’s earned the right to: Zendaya, Lewis Hamilton, Shawn Mendes. But these aren’t just a list of friends from dinner parties. These names that have recently collaborated with his brand are proof he still understands the zeitgeist 40 years on. “There’s always someone on the wishlist,” Hilfiger says of any potential future collaborations, “but I can’t reveal that".
He’s as much a tight-lipped business man as he is a creative. And there’s no qualms about that. “I started my business when I was still in school. I opened a shop for people who loved music and fashion,” he says of People’s Place, the shop he opened in Elmira, a small town in New York State. With $150, he drove into New York City to buy 20 pairs of bell-bottom jeans to sell in the store. It was a place where he could sell “the cool styles we couldn’t find in our small town”.
“In those days, It was the late 60s. It was a time when rock was exploding. During the summer of Woodstock, the English groups were touring all over North America. People had never seen long hair and bell bottoms.” But that electric feeling wasn’t enough. He didn’t want to sell other people’s clothes. He found a business partner and well, the rest is history.
The word “fame” comes up often in our conversation. Not as an aspiration, but as a kind of currency – something to be exchanged for relevance. He classifies it as a category that almost sits above music, cinema and sports. And when I ask what has changed most since he started, it is also linked to how that currency gets traded: “Social media,” he says plainly. Does it influence his process? “We’re on our own journey,” he replies, like someone who’s learnt that it is just one more thing to adapt to.
“I notice you’re wearing olive green,” he says pointing to my workman’s jacket. He tells me there’s something in the collection I’d like.
When we’re done with the sit-down, he takes me around the store looking for the piece. He’s moving through the racks like a salesman on the shop floor. Beyond the iconic collaborations and mega-deals, that’s the true key to his longevity.
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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.”
