High-collared flying jackets and ultra-feminine skirts were prominent in the show, which was broadcast online.
High-collared flying jackets and ultra-feminine skirts were prominent in the show, which was broadcast online.
High-collared flying jackets and ultra-feminine skirts were prominent in the show, which was broadcast online.
High-collared flying jackets and ultra-feminine skirts were prominent in the show, which was broadcast online.

A giant leap forward for the Burberry brand


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It was perfect weather for a Burberry show: torrential rain outside, "laser" rain projected on to walls of the marble (yes, marble) marquee inside. While my colleagues in the UAE were donning their 3D specs for a live stream in a specially designed screening room at The Address hotel in Dubai Mall, I was experiencing the real thing at the Chelsea College of Art & Design, just down the road from Burberry's Horseferry Road headquarters.

Even the pre-show soundtrack was the pitter-patter of raindrops. (As if we needed a reminder it was pouring outside - we and our Burberry trench coats had all got soaked while we queued as you do in London, waiting to get in.) Then the houselights dimmed and the words, "Tokyo", "LA", "New York", "Paris" and "Dubai" flashed up on the infinity backdrop, reminding us what we and the fashionistas of those five cities - and, according to Burberry, 100 million viewers online - were about to see.

What were the benefits for those of us watching the show in Chelsea? Just along and a few rows in front of me were Kate Hudson, Kristen Stewart, Mary Kate and Ashley Olsen and pretty much every fashion A-lister, from Vogue's Anna Wintour and Carine Roitfeld to Stephen Gan, the founder of the magazine Visionaire. But to be honest, all this paled into insignificance when a fleet of statuesque models wearing flying jackets, military coats and thigh-high boots thundered down the catwalk to the slickest (and loudest) soundtrack we've heard all week.

If you are going to beam a fashion show globally, this is how you do it: with a runway groaning with highly covetable, super-luxury pieces on models charging $1,000 (Dh3,673) an hour. It's aspirational, brand-flagging stuff. Anyone watching online who didn't happen to know what Burberry Prorsum stood for five minutes earlier will now place it up there with Dior or Chanel - which makes this show the biggest advert for a luxury brand yet.

The fashion mob certainly didn't need 3D glasses to see the craftsmanship and utterly luxurious fabrics behind the military and utility-inspired collection, either. These were clothes for the globetrotting CEO or managing director who wants her wardrobe to look as accomplished as she is. Key pieces included the high-collared flying jacket (not just in sheepskin but also in furry brown with matching epaulettes) as well as parkas, khaki greatcoats and oversized nautical pea jackets. Conspicuously absent was the trench coat but, hey, we've seen that.

Stiff, neatly tailored outer-layer jackets had shiny gold buttons and were teamed with ultra-feminine pencil skirts in ribboned panels of shiny satin or ruched velvets in shades of misty grey, rose and petrol. And, always, heels. It wasn't necessarily the most fashion-forward collection of the week but it was the show you would remember. And if I had a couple of thousand dirhams burning a hole in my pocket, I'd immediately place an order on the Burberry website (another first, by the way) for one of the huge snakeskin shoppers in turquoise and a pair of stiletto-heeled, buckled sheepskin ankle boots. And perhaps one of those flying jackets, especially knowing I could get it within a month rather than having to wait until September.

There were shows before (and sadly, after) Burberry, but none worth mentioning. All in all, I'd say it was one small step for the fashion show, one giant leap for Burberry.

The specs

Engine: 2.0-litre 4-cyl, 48V hybrid

Transmission: eight-speed automatic

Power: 325bhp

Torque: 450Nm

Price: Dh359,000

On sale: now 

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
UAE currency: the story behind the money in your pockets
The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

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 Transfiguration

Director: Michael O’Shea

Starring: Eric Ruffin, Chloe Levine

Three stars

Ain Dubai in numbers

126: The length in metres of the legs supporting the structure

1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch

16 A380 Airbuses: The equivalent weight of the wheel rim.

9,000 tonnes: The amount of steel used to construct the project.

5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place

192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.

UAE currency: the story behind the money in your pockets