After more than a decade of viral moments and tongue-in-cheek designs, Jeremy Scott has announced he is stepping down as creative director of Moschino.
From his debut collection for autumn/winter 2014, Scott’s influence on the fashion house was immediately felt. He took founder Franco Moschino's love of colour and eccentricity and mixed it with a satirical take on consumerism, which sparked endless social commentary when models graced the runway dressed as McDonald’s workers and crisp packets.
In the years that followed, Scott made oversized phone cases shaped like packets of cigarettes or bottles of toilet cleaner the must-have accessory, andcaused grown adults to go wild over SpongeBob SquarePants and Barbie-themed collections.
Scroll through the gallery below to see some of Jeremy Scott’s most talked-about Moschino moments
Announcing his departure on Instagram, Scott said: “I’ve had a blast creating designs that will live on forever. I am grateful for all the love and support I’ve received over this past decade. As I close this chapter I am filled with excitement and anticipation and can’t wait to share with you all what I have in store for you next!”
In a statement, Moschino praised Scott’s “fearless and show-stopping pop-camp style and incisive humour”.
Jeremy Scott’s early career
Born in Missouri in 1975, Scott was determined to work in fashion in Paris and started taking French lessons aged 14. In 1992, he moved to New York to study fashion at Pratt Institute, before relocating to Paris in 1996 to pursue his career. However, things didn't go as planned and he quickly found himself sleeping rough on the metro. Desperate, he decided to set up his self-titled label.
In 1997, Scott showed his first collection, inspired by David Cronenberg's 1996 film Crash, at Paris Fashion Week. With no money to spend on fabrics, Scott repurposed paper hospital gowns and his models walked barefoot or in heels fashioned out of bandages. His second show, an all-black collection called Rampage, which Scott described as "Blade Runner, trash bags and the apocalypse", was hosted at the cult (and now defunct) Parisian store Colette. When his third show won the praise of Vogue France, Scott was taken under the wing of British stylist Isabella Blow, the woman who launched Alexander McQueen's career years earlier.
In 2003, Scott began working with adidas Originals to launch several collaborations, including winged high tops worn by the likes of Kanye West and Blue Ivy, and trainers with pink teddy bears as tongues, which went viral after they were worn by rapper Lil Wayne.
What’s next for Scott?
While Scott is yet to reveal exactly what’s next for him, his Instagram post makes it clear that there is something in the works.
The designer spent much of his time at Moschino also working on his eponymous label, although in 2019, it was withdrawn from the fashion show schedule.
Speaking to Vogue at the time, Scott hinted that his busy schedule at Moschino made it difficult to balance the two. “I want to be sure I have a nice life — I mean, quality time with people,” he said.
At the time, he also suggested the hiatus may not be indefinite. “I own the company, so I can decide,” Scott said. Watch this space.
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Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Ep2: PCR and jobs - the future of work - new trends and challenges
Ep3: The recovery and global trade disruptions - globalisation post-pandemic
Ep4: Inflation- services and goods - debt risks
Ep5: Travel and tourism
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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.”
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Sector: FinTech
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Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors
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