Models in latex suits by Balenciaga and sportswear by adidas may have raised a few eyebrows on Wall Street, but last month's stunt was the latest example of money-spinning fashion and sportswear collaborations causing a buzz online.
According to Women's Wear Daily magazine, searches for “tracksuits” and “Balenciaga” rose 25 per cent after the French-owned brand’s spring 2023 runway show stunned the New York Stock Exchange, while searches for “adidas” increased by 13 per cent.
Balenciaga and adidas's event comes hot on the heels on one of the biggest collaborations of the year, as the German sportswear giant also united with Gucci on the autumn collections runway in February.
The Italian designer’s creative director Alessandro Michele, a long-time adidas fan, cleverly merged the brands' powerful signatures into a collection labelled Exquisite Gucci.
Adidas’s trademark three white stripes complemented Gucci’s signature red and green, as did the interlocking of the two logos (the adidas trefoil and the GG monogram) into a catwalk collection that is a classic Michele mash-up. Think rigorous tailoring plus vintage and club culture dresses with sports branding.
The covetable line of accessories includes hats, bags, gloves and boots as well as famed adidas trainers — of which Michele is a huge fan.
To mark the partnership, the sporty streetwear capsule is hitting selected Gucci stores around the world, including in the UAE and online, on Tuesday, June 7.
This is a far summerier vision for men and women, which taps into an athletic vibe that has been thoroughly Guccified.
Michele draws on retro tennis and golf looks for the dresses, which feature along with tracksuits, sport jackets and underwear.The bold colours and geometric branding of the scaled-up interlocking logos are sure to keep logomaniacs happy.
Such collaborations are becoming headline events and an on-trend way of connecting luxury names with wider fans of urban fashion.
Michael Kors, better known for his city chic and glamorous eveningwear, has teamed up with Italian sportswear brand Ellesse to produce a summer capsule for tennis. A skiwear series is in the pipeline for autumn.
The designs are a luxurious and modern take on retro-athletic styles. Vibrant, sporty and glamorous, they tap into Kors’s memory as a night manager at a tennis club on Long Island, New York, in the 1970s before he became a designer.
He remembers how women at the time wore tennis dresses “just to show off their legs rather than play a game”, paired with a gold watch, diamond earrings and sunglasses.
“Personally, I was always a mediocre tennis player,” Kors has said. “But the two sports to me that were always glamorous, particularly when you look at images from the 1970s, were tennis and skiing. Both were a part of fast-paced jet-set life. We carried Ellesse in our pro shop [at the tennis club] and did very well with it. There was this blend of European glamour with the idea of athleticism. For me, movement is always very American.”
Like the interlocking adidas x Gucci logo, Kors’s MK monogram is reworked in the Ellesse brand's fiery colours for the print pattern. The design is emblazoned across vintage-style swimwear, shorts and backpacks, and elsewhere as an emblem on orange, navy and crisp white track jackets, pants, crop tops and trainers.
Collaborations are a shrewd way of merging famous brands to create desirable hybrids. There have been a number of design partnerships for trainers such as Air Dior and Dior Converse as well as Karl Lagerfeld and Puma.
Balmain produced a limited-edition line of boxing-inspired designs with Puma last autumn, and there has been the Fenty x Puma collaboration ranging from trainers to sporty street-style fashion at the height of the athleisure trend in 2017.
However, predating all these contemporary collaborations is adidas by Stella McCartney, which dates back to 2005. Rather than a lifestyle collection, the collaboration with McCartney was about performance sportswear.
The designer also created the kit for the eye-catching Team GB Olympics teams in 2016, produced with sustainability in mind.
Last year, she created did a diversity-friendly outerwear runway show, and that message about inclusivity also underpins this summer’s Agent of Kindness collection, of bold-coloured silhouettes in recycled breathable materials, which is fronted by American gymnast Nia Dennis.
McCartney says the collection embodies her ambitions “to create standout performance wear that not only looks great but provides our community with innovative pieces that facilitate high-impact activity”.
Whether such collaborations stay true to spirit of sportswear or take a brand beyond the track, they all connect with a wider audience that might otherwise have only ever worn a pair of running shorts to jog in.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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.”
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Last five meetings
2013: South Korea 0-2 Brazil
2002: South Korea 2-3 Brazil
1999: South Korea 1-0 Brazil
1997: South Korea 1-2 Brazil
1995: South Korea 0-1 Brazil
Note: All friendlies
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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%3Cp%3ECreator%3A%20Tima%20Shomali%3C%2Fp%3E%0A%3Cp%3EStarring%3A%C2%A0Tara%20Abboud%2C%C2%A0Kira%20Yaghnam%2C%20Tara%20Atalla%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
The biog
Profession: Senior sports presenter and producer
Marital status: Single
Favourite book: Al Nabi by Jibran Khalil Jibran
Favourite food: Italian and Lebanese food
Favourite football player: Cristiano Ronaldo
Languages: Arabic, French, English, Portuguese and some Spanish
Website: www.liliane-tannoury.com
UAE currency: the story behind the money in your pockets
Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
BUNDESLIGA FIXTURES
Friday (all kick-offs UAE time)
Hertha Berlin v Union Berlin (10.30pm)
Saturday
Freiburg v Werder Bremen (5.30pm)
Paderborn v Hoffenheim (5.30pm)
Wolfsburg v Borussia Dortmund (5.30pm)
Borussia Monchengladbach v Bayer Leverkusen (5.30pm)
Bayern Munich v Eintracht Frankfurt (5.30pm)
Sunday
Schalke v Augsburg (3.30pm)
Mainz v RB Leipzig (5.30pm)
Cologne v Fortuna Dusseldorf (8pm)
Results
2.15pm: Maiden (PA) Dh40,000 1,200m
Winner: Maqam, Fabrice Veron (jockey), Eric Lemartinel (trainer).
2.45pm: Maiden (PA) Dh40,000 1,200m
Winner: Mamia Al Reef, Szczepan Mazur, Ibrahim Al Hadhrami.
3.15pm: Handicap (PA) Dh40,000 2,000m
Winner: Jaahiz, Fabrice Veron, Eric Lemartinel.
3.45pm: Handicap (PA) Dh40,000 1,000m
Winner: Qanoon, Szczepan Mazur, Irfan Ellahi.
4.15pm: Sheikh Hamdan bin Rashid Cup Handicap (TB) Dh200,000 1,700m.
Winner: Philosopher, Tadhg O’Shea, Salem bin Ghadayer.
54.45pm: Handicap (PA) Dh40,000 1,700m
Winner: Jap Al Yassoob, Fernando Jara, Irfan Ellahi.
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.