One of fashion's greatest spectacles - the Met Gala- is taking place on Monday in New York.
As the fundraising event for the Metropolitan Museum of Art's Costume Institute, and also the opening night of its annual exhibition, the Met Gala has established itself as an indulgent, extravagant event where guests vie for the title of most creative outfit.
What is the theme?
This year's theme is Tailored for You, which takes its cues from the subject of the exhibition: Superfine: Tailoring Black Style.
In essence, the exhibition is a long overdue look at how black fashion – from Congolese Sapeurs, to African-American street style – has shaped, influenced and inspired fashion culture, and as such the opening night gala is widely expected to be a celebration of black designers, as well as designers of colour. We can look forward to a steady parade of famous faces in known and more obscure black designers, at an evening designed to spotlight black excellence.
Who is chairing the evening?
Each year, the Met Gala is chaired by Anna Wintour, who hand-picks her co-chairs for the evening. This year she has invited men known for their fashion kudos that includes the actor Colman Domingo, rapper A$AP Rocky, Formula 1 driver Lewis Hamilton, as well as musician, record producer and Louis Vuitton men’s creative director, Pharrell Williams. Basketball player LeBron James will be honourary co-chair.
Who is in the Host Committee?
In addition, a supporting host committee has been announced, that includes the fashion designers Grace Wales Bonner, Dapper Dan and Olivier Rousteing, plus stylist and fashion editor Edward Enninful. Film director Spike Lee is on the list, as are actors Regina King and Ayo Edebiri, plus athletes Simone Biles, Angel Reese and Sha’Carri Richardson. Musicians Tyla, Usher, Doechii and Janelle Monae are involved, as are artists Rashid Johnson, Kara Walker and Jordan Casteel.
Who is on the guest list?
The official guest list is always a tightly guarded affair, yet that does not stop the rumour mill going into overdrive. This year, there is a lot of chatter around Bollywood royalty Shah Rukh Khan making his debut. Numerous outlets are citing that he will be dressed by Indian designer Sabyasachi, who also dressed Alia Bhatt for her first appearance on the Met red carpet.
Actress Zendaya and her stylist Law Roach are widely expected to return, as together they have succeeded in elevating her red carpet arrivals into an art form. For 2024, she wore not one, but two show-stopping looks, arriving in custom Maison Margiela before changing into vintage Givenchy.
Madonna is also expected to make an appearance. Something of a Met Gala veteran, the pop music star has a track record of collaborating with the likes of Jean Paul Gaultier, Versace, Marc Jacobs and Moschino. So, if she does make an appearance, it will probably be in something custom made and a bit bonkers.
Given that A$AP Rocky is one of the co-chairs, it feels safe to assume that his partner Rihanna will be in tow. Beloved by the fashion industry for her fearless style, there are high expectations for her look. Whether she opts for an established name or someone totally under the radar, she is under pressure to deliver something remarkable.
What happens at the Met Gala?
While the A-list arrivals on the red carpet are carefully timed to give everyone their moment to shine, once inside, the evening is a exhibition opening.
Mobile phones are strongly discouraged, and the seating plan is personally overseen by Anna Wintour, who apparently also has the final word on who is invited to the event, according to the New York Times.
Guests are given a tour of the exhibition, days before it opens to the public, before enjoying a seated dinner.
What not to do
Given the complexity of this year's theme – and a proven record of guests getting it wrong in the past – this year's red carpet has the potential to be a place of reckoning. The evening is orchestrated as a careful rebalancing of an industry traditionally skewed to favour white, male designers, and as such will also expose tropes and lazy interpretations. While we all hope all the guests will rise to the challenge and astound us all with the depth of understanding, there is the real possibility we could see careers crash and burn if there is even the slightest whiff of mockery or colonial rhetoric.
Elsewhere, the ban on mobile phones is in place to stop the sharing of what happen inside, and retain the air of mystique. Not everyone sticks to this rule however, such as when an image was posted that had Bella Hadid and Dakota Johnson smoking in the toilets.
Elsewhere, a few have managed to get themselves banned, including US President Trump. While she did not go into details, in 2017 on James Corden's late night television show, Wintour did admit that the president was on her list of those to “never invite back".
Elsewhere, some guests have vowed to never repeat the experience, with comedian Tina Fey going as far to describe it on the Late Show with David Letterman in 2015 as a being a gathering of "all the people you would want to punch in the whole world".
Of course, the most infamous moment of the Met Gala must be the 2014 argument between Solange and Jay-Z in an elevator that was captured on security camera, amid rumours of the rapper's infidelity.
Where to watch it
Thanks to the eight-hour time lag between New York and the UAE, watching the event live will involve staying up most of the night. However, if that is your thing, then it is being streamed live on YouTube and on Vogue platforms, starting at 2am UAE time.
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Five famous companies founded by teens
There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
- Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate.
- Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
- Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
- Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
- Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
Company%20Profile
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Company profile
Company name: Dharma
Date started: 2018
Founders: Charaf El Mansouri, Nisma Benani, Leah Howe
Based: Abu Dhabi
Sector: TravelTech
Funding stage: Pre-series A
Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs
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Sept 15: Bangladesh v Sri Lanka (Dubai)
Sept 16: Pakistan v Qualifier (Dubai)
Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)
Sept 18: India v Qualifier (Dubai)
Sept 19: India v Pakistan (Dubai)
Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four
Sept 21: Group A Winner v Group B Runner-up (Dubai)
Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)
Sept 23: Group A Winner v Group A Runner-up (Dubai)
Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)
Sept 25: Group A Winner v Group B Winner (Dubai)
Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)
Sept 28: Final (Dubai)
Company Profile
Name: JustClean
Based: Kuwait with offices in other GCC countries
Launch year: 2016
Number of employees: 130
Sector: online laundry service
Funding: $12.9m from Kuwait-based Faith Capital Holding
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.”
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