"I haven't seen Downton Abbey," admits Jenny Packham. "I don't know why, but you know when you don't get into it and you've gone past understanding who's who? That just sort of happened." Admittedly, I'm surprised at this revelation. Not only because of the show's ever-growing popularity, but because of the considerable influence that it has had on fashion in recent years, especially on bridal wear. There is a Downton-esque feel to some of Packham's wedding dresses, particularly in her spring/summer 2015 collection, with its straight-lined, chemise-like dresses, shorter hemlines and intricate beading. She admits that customers have asked if she was using Downton as an inspiration, but the answer, it appears, is a resounding no.
We are sitting in a cramped room filled with cream-coloured couches and plush wing-backed chairs, in Bloomingdale’s Dubai. Packham is in town to show her most recent collections, now available at The Dubai Mall store. There are people moving frantically around the room as we chat, but amid all the chaos, the British designer is the very essence of calm. And her ease is neither a facade nor a front. Having been a part of the upper echelons of the fashion industry for the best part of three decades, Packham has all the credentials of a well-established designer, with none of the pretentiousness. In fact, she’s uncommonly warm for a designer whose client list includes the likes of Angelina Jolie, Jennifer Aniston, Reese Witherspoon and (perhaps most famously) the Duchess of Cambridge.
Packham attended Saint Martin’s School of Art in London (now Central Saint Martins) and launched her label in 1988 with a collection of 12 short black-and-white silk evening gowns. She now designs ready-to-wear, lingerie and accessories, but is perhaps best known for her bridal collections. “From the time that we started doing bridal wear to now it’s been an amazing transition in the style,” she explains. “I think the red carpet has really sort of influenced what people are wearing on their wedding days. This is how it used to be in the early part of the last century. In the 20s, they’d wear a 20s dress, and then they’d wear a really long veil with it or style it differently. Then it all went a bit historical during the Lady Di time, with the slightly Victorian look. And then everything went towards strapless. I think women used to think that they had to go into this whole other sort of world to get married. I don’t know; it’s not like that anymore. It’s much more contemporary.”
Packham has witnessed a fair number of shifts over the course of her career, one of the most notable being the growing prevalence of powerful women in the fashion industry. “I think it used to be that there were a lot of women in the fashion industry, but all the decisions, like with magazines, were being made by guys at the top. There’s that book called The Beauty Myth – that women felt they were in charge, but actually [they were] all being made to feel insecure so that they would buy all these products while everything was being handled by men. But I think that has to be changing now as you have more of these powerhouses.”
Indeed, it is a “powerhouse” who is at the heart of Packham’s spring/summer 2015 collection, which made its debut during New York Fashion Week in September. Inspired by Marilyn Monroe, the collection is straight out of a 1950s film, featuring boat-cut necklines, longer hems and A-line dresses. “During the actual season we used [Marilyn] as a muse,” she explains. “If we were looking at the design and wondering whether we should do this or that, we’d ask: ‘What would Marilyn do?’ We did it jokingly at first, but actually, it was quite clarifying.”
But using the actress as inspiration meant that Packham had to tap into every facet of Monroe’s persona, including her darker side. It was the thousands of images of Monroe that she came across at The Hollywood Museum that most struck a chord, Packham recalls. There was also the realisation that the physique that Monroe was so famous for was in itself something of a construct. “I had an amazing experience where we met with a guy who owned many of her dresses,” she recalls. “When we looked inside the dresses there were all sorts of these little tricks, things pulling [her] in and pads. So she was really kind of modelling her body.”
Of course, the concept of movie stars “modelling” their bodies, with or without any “tricks”, is certainly not alien in this day and age. In an era dominated by Instagram and Twitter, celebrities are under immense scrutiny, as is their every fashion choice, particularly on the red carpet. Whether it’s donning skin-revealing designs, sheer fabrics, or simply using Spanx to pull it all in, it seems we’re still following in Monroe’s footsteps, comfort be damned.
So does Packham take the concept of comfort into consideration when designing her dresses, I wonder? “Very much so,” she says. “I think, especially for a bride, it’s a very hard day. You get married. You have guests. You have to move about. You have to dance. And you’ve got to keep going for a very long time. So it’s very important that it’s a comfortable thing to wear. I would never try and construct something that would cause anyone any discomfort in any way.
“Also, I think on the red carpet stars want to feel confident – they don’t want to think about what they’re wearing. I’ve met some of the celebrities and they have a pair of shoes they always wear or hide under their long dresses – shoes that they’re very comfortable in. They know that they’ve got to be standing up in them for so long, looking great. It sounds a bit prosaic to say ‘something must be comfortable’, but actually it gives you the ability to be what you want to be.”
The British designer’s refined, intricately crafted creations have proven popular with both brides and celebrities around the world. So her move to New York Fashion Week in 2010, after years of showing in London and Milan, was somewhat unexpected. As New York tends to showcase more contemporary and casual collections, it seemed like a strange choice. “What I like about New York is that I’m able to sort of show the dresses in a way that one can imagine wearing them,” she admits. “In Milan, there’s more politics with the whole schedule, so it was quite difficult. However, there was a real appreciation for glamorous dressing. In London, it had to be very avant-garde and there wasn’t the kind of passion and respect for glamorous dressing that you’d maybe find in America where they have more occasions to attend.”
It is the American “can-do” attitude that also attracts Packham to New York. Nodding along in agreement, I realise that my own American enthusiasm (something I’ve spent the better part of a decade trying to tone down) is starting to show. Yet it would seem that this is the exact kind of excitement that draws Packham across the pond. “Everyone is very enthusiastic about the project and I just feel the minute we started showing there, I could show beautiful dresses and make a beautiful show. Whereas I felt in the United Kingdom, a certain pressure to be ... different. Or to sort of style something up in a way that you wouldn’t necessarily expect. Which is really interesting, but I like the business element of it, too. It is a business. And I like the fact that New York really respects that.”
While Packham has a strong presence in both North America and Europe, she is certainly no stranger to this region, particularly the UAE. She first visited 23 years ago and has returned sporadically ever since, for both business and pleasure, developing a firm following that is as enthusiastic about her designs as any red-carpet diva or fashion-forward royal. “Fashion has become a focal point here, and it’s quite clear that people are into the retail experience,” she concludes. “It’s such a fascinating place. It’s truly amazing.”
alane@thenational.ae
Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
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.”
The full list of 2020 Brit Award nominees (winners in bold):
British group
Coldplay
Foals
Bring me the Horizon
D-Block Europe
Bastille
British Female
Mabel
Freya Ridings
FKA Twigs
Charli xcx
Mahalia
British male
Harry Styles
Lewis Capaldi
Dave
Michael Kiwanuka
Stormzy
Best new artist
Aitch
Lewis Capaldi
Dave
Mabel
Sam Fender
Best song
Ed Sheeran and Justin Bieber - I Don’t Care
Mabel - Don’t Call Me Up
Calvin Harrison and Rag’n’Bone Man - Giant
Dave - Location
Mark Ronson feat. Miley Cyrus - Nothing Breaks Like A Heart
AJ Tracey - Ladbroke Grove
Lewis Capaldi - Someone you Loved
Tom Walker - Just You and I
Sam Smith and Normani - Dancing with a Stranger
Stormzy - Vossi Bop
International female
Ariana Grande
Billie Eilish
Camila Cabello
Lana Del Rey
Lizzo
International male
Bruce Springsteen
Burna Boy
Tyler, The Creator
Dermot Kennedy
Post Malone
Best album
Stormzy - Heavy is the Head
Michael Kiwanuka - Kiwanuka
Lewis Capaldi - Divinely Uninspired to a Hellish Extent
Dave - Psychodrama
Harry Styles - Fine Line
Rising star
Celeste
Joy Crookes
beabadoobee
Sheer grandeur
The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.
A clear distinction between the residences and the Raffles hotel with the amenities operated separately.
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
European arms
Known EU weapons transfers to Ukraine since the war began: Germany 1,000 anti-tank weapons and 500 Stinger surface-to-air missiles. Luxembourg 100 NLAW anti-tank weapons, jeeps and 15 military tents as well as air transport capacity. Belgium 2,000 machine guns, 3,800 tons of fuel. Netherlands 200 Stinger missiles. Poland 100 mortars, 8 drones, Javelin anti-tank weapons, Grot assault rifles, munitions. Slovakia 12,000 pieces of artillery ammunition, 10 million litres of fuel, 2.4 million litres of aviation fuel and 2 Bozena de-mining systems. Estonia Javelin anti-tank weapons. Latvia Stinger surface to air missiles. Czech Republic machine guns, assault rifles, other light weapons and ammunition worth $8.57 million.
Star%20Wars%3A%20Episode%20I%20%E2%80%93%20The%20Phantom%20Menace
%3Cp%3E%3Cstrong%3EDeveloper%3A%3C%2Fstrong%3E%20Big%20Ape%20Productions%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20LucasArts%3Cbr%3E%3Cstrong%3EConsoles%3A%3C%2Fstrong%3E%20PC%2C%20PlayStation%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The five pillars of Islam
match info
Maratha Arabians 138-2
C Lynn 91*, A Lyth 20, B Laughlin 1-15
Team Abu Dhabi 114-3
L Wright 40*, L Malinga 0-13, M McClenaghan 1-17
Maratha Arabians won by 24 runs
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
FROM%20THE%20ASHES
%3Cp%3EDirector%3A%20Khalid%20Fahad%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Shaima%20Al%20Tayeb%2C%20Wafa%20Muhamad%2C%20Hamss%20Bandar%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
