Halima Aden has been named as the global brand ambassador for Turkish modest fashion e-commerce platform, Modanisa. If you keep up to date with modest fashion news – or mainstream fashion industry goings on in general, for that matter – you might recall Aden announcing that she was “stepping down” from modelling last year.
In a series of Instagram stories last November, she declared that her hijab hadn’t been respected by fashion brands, using examples such as the American Eagle campaign that pictured jeans draped over her head. She cited a lack of Muslim stylists as a glaring gap in the industry, and implied that she was “quitting” the world of fashion until further notice.
But it seems like that notice period is up – Aden is back in action, partnering with a platform that specialises in modest wear, rather than working for another Western brand jumping on the bandwagon and earning diversity points for recruiting a black, hijabi model.
The worldwide modest fashion movement has been both celebrated and contested. When it first started “trending”, it posed a threat to smaller brands that had been catering to the community for years, but now could not compete with the accessibility and convenience of high-street labels.
Big brands and their budgets outshined these independent labels, and fans have had mixed feelings about this global style movement – happy that their style preferences were finally being validated and that there was greater choice available in stores, but wary about being tokenised and seeing Muslim-owned brands being stifled by the new competition.
But with the glamour of “exclusive” capsules by brands such as Michael Kors, DKNY, H&M, Mango and more wearing off, perhaps there’s a lesson to be learnt – that fashion targeting modesty-seeking Muslim women is most effective, genuine and long-lasting, when it is rooted in their own countries and cultures.
While modesty cannot be “claimed” by any particular faith or culture, Muslim consumers, their perceived spending power and the influx of popular hijabi bloggers on Instagram, are what catapulted this aesthetic into the mainstream in recent years.
Yet the mass appeal of any trend eventually wanes; this summer’s style trends ranged from cycling shorts to halter bralettes and “midriff flossing”. The Western fashion world’s indulgence of modesty was surface-deep, and we really shouldn’t expect anything more. Such is the cyclical nature of fashion.
Modesty might look vogue-ish when spotlighted in the window displays of Zara, but for the most part, Western retailers have no lasting commitment to these styles.
Sometimes, the insincerity is glaring – such as when Banana Republic launched hijabs but styled them on models with short sleeves and skirts with high slits. Other times, it’s masked under the charade of inclusivity, with the recruitment of Muslim women of colour such as Aden for catwalks and campaigns.
“I’m choosing to only work with brands that I really love and believe in,” wrote Aden in an Instagram caption last week. And on Monday, Modanisa announced that Aden, who they described as a “former fashion model”, would be the brand’s first-ever global ambassador, in a statement titled “I’m coming home”.
In choosing to return to a modest fashion platform headquartered in a Muslim country, perhaps Aden recognises that those truly invested in this retail category are not the big fashion players in the Western world, but the brands that centre the ideals of modesty in their very cores. “I’m so excited to be working with Modanisa… they share my faith and values, and fully respect my choices as a Muslim woman,” she said.
Western retailers, designers, stylists and photographers may still lack a deeper understanding of the psyche of the modest fashion consumer: who she dresses for, what drives her decisions to cover up and how she wants to be portrayed.
Aden's decisions to both reject the Western retail industry that catapulted her to fame, but ultimately misunderstood her approach, and sign a two-year deal with Modanisa, perhaps signify a greater understanding about this industry: that mainstream brands might make a few quick bucks, but it’s the labels and platforms that were founded to authentically serve these consumers that will triumph in the long run.
Company%20profile
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UAE FIXTURES
October 18 – 7.30pm, UAE v Oman, Zayed Cricket Stadium, Abu Dhabi
October 19 – 7.30pm, UAE v Ireland, Zayed Cricket Stadium, Abu Dhabi
October 21 – 2.10pm, UAE v Hong Kong, Zayed Cricket Stadium, Abu Dhabi
October 22 – 2.10pm, UAE v Jersey, Zayed Cricket Stadium, Abu Dhabi
October 24 – 10am, UAE v Nigeria, Abu Dhabi Cricket Oval 1
October 27 – 7.30pm, UAE v Canada, Zayed Cricket Stadium, Abu Dhabi
October 29 – 2.10pm, Playoff 1 – A2 v B3; 7.30pm, Playoff 2 – A3 v B2, at Dubai International Stadium.
October 30 – 2.10pm, Playoff 3 – A4 v Loser of Play-off 1; 7.30pm, Playoff 4 – B4 v Loser of Play-off 2 at Dubai International Stadium
November 1 – 2.10pm, Semifinal 1 – B1 v Winner of Play-off 1; 7.30pm, Semifinal 2 – A1 v Winner of Play-off 2 at Dubai International Stadium
November 2 – 2.10pm, Third place Playoff – B1 v Winner of Play-off 1; 7.30pm, Final, at Dubai International Stadium
Match info
Uefa Nations League Group B:
England v Spain, Saturday, 11.45pm (UAE)
The%20specs
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
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
About Proto21
Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group
Getting%20there%20and%20where%20to%20stay
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Florida: The critical Sunshine State
Though mostly conservative, Florida is usually always “close” in presidential elections. In most elections, the candidate that wins the Sunshine State almost always wins the election, as evidenced in 2016 when Trump took Florida, a state which has not had a democratic governor since 1991.
Joe Biden’s campaign has spent $100 million there to turn things around, understandable given the state’s crucial 29 electoral votes.
In 2016, Mr Trump’s democratic rival Hillary Clinton paid frequent visits to Florida though analysts concluded that she failed to appeal towards middle-class voters, whom Barack Obama won over in the previous election.
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
MATCH INFO
Uefa Champions League last 16, first leg
Liverpool v Bayern Munich, midnight, Wednesday, BeIN Sports
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
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.”
COMPANY%20PROFILE
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The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
RESULT
Everton 2 Huddersfield Town 0
Everton: Sigurdsson (47'), Calvert-Lewin (73')
Man of the Match: Dominic Calvert-Lewin (Everton)