Rumours that have been on the fashion world's lips for months have finally been confirmed: Jonathan Anderson is taking over as sole creative director at Dior.
It comes days after the announcement that Maria Grazia Chiuri is stepping down as artistic director of the brand's women’s collections after nine years.
In a statement announcing the appointment, Bernard Arnault, chairman and chief executive of Dior's parent company, LVMH Moet Hennessy Louis Vuitton, described Anderson as “one of the greatest creative talents of his generation“.
The northern Irishman was named Dior's head of men's fashion in April, sparking speculation that he was being lined up to take over the women's department as well. This Irish designer now oversees the women's division, encompassing ready-to-wear and haute couture.
His first men's wear collection is expected this month, while his first collection for women will be showcased in autumn.
Chiuri was creative head of women's haute couture and ready-to-wear at Dior for nine years. In an era when designers seem to be permanently on the move, the change feels deeply significant. She joined in 2016 from Valentino – where she worked with Pierpaolo Piccioli, the newly appointed creative chief at Balenciaga – and set about reinvigorating the house by delving through its archive, bringing back heritage ideas such as the nipped waist Bar jacket created by Dior himself in 1947, and the Saddle Bag, from the Galliano era.
Her first fashion show for the brand famously included a T-shirt emblazoned with the title of Chimamanda Ngozi Adichie’s essay We Should All Be Feminists, setting the tone that has underpinned all her collections.
Christian Dior couture chairman and chief executive Delphine Arnault wrote: “I extend my warmest thanks to Maria Grazia Chiuri who, since her arrival at Dior, has accomplished tremendous work with an inspiring feminist perspective and exceptional creativity, all imbued with the spirit of Monsieur Dior, which allowed her to design highly desirable collections."
A huge hit with customers, Chiuri was particularly focused on couture details, which ran through much of her work, thanks to the immense skill of the Dior teams.
In her statement, Chiuri wrote: “I am particularly grateful for the work accomplished by my teams and the ateliers. Their talent and expertise allowed me to realise my vision of committed women’s fashion, in close dialogue with several generations of female artists. Together, we have written an impactful chapter of which I am immensely proud.”
Under Chiuri's tenure, the house has become known for a romantic yet wearable aesthetic. She swapped out corsetry for elastic and introduced layered net ballet skirts and heavily logo-ed kitten heels.
In March 2023, Chiuri unveiled her pre-fall collection in front of the Gateway of India in Mumbai, partly in tribute to the contribution of Indian artisans to fashion. In March 2019, she restaged her circus-themed haute couture collection in a giant tent in Safa Park, Dubai.
Rumours of Chiuri's departure have been swirling for months. Her 2026 cruise collection show in Rome just days ago was regarded as her finale, even before the official announcement. The crowd showed their appreciation with a standing ovation – a rarity in an industry where everyone is racing off to the next show.
There is no news yet of where Chiuri might go next, if anywhere. A day after leaving Dior, she made public a restoration project of Teatro della Cometa, a historic theatre in Rome she bought in 2020 and meticulously brought back to life with her daughter.
However, her departure means there is one less woman heading up a major house. Her appointment all those years ago felt like the beginning of a new normal where women held powerful, influential roles.
Since then, however, Phoebe Philo, Clare Waight Keller and Sarah Burton have all stepped back from Celine, Givenchy and Alexander McQueen respectively. Burton has since reappeared at Givenchy, but Waight Keller is now creative director at high-street name Uniqlo, and Philo has her own, low-key brand.
Miuccia Prada still remains at Prada and Miu Miu, but otherwise, the fashion industry is once again dominated by men, making Chiuri's departure the end of an era in more ways than one.
Global state-owned investor ranking by size
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Canada
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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 specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
How Beautiful this world is!
Company%20profile
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French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.