• Gigi Hadid presents a look from Stella McCartney's ready-to-wear spring/summer 2023 collection at Paris Fashion Week. AP
    Gigi Hadid presents a look from Stella McCartney's ready-to-wear spring/summer 2023 collection at Paris Fashion Week. AP
  • Bella Hadid presents a creation from the spring/summer 2023 ready-to-wear collection by US designer Thom Browne at Paris Fashion Week. EPA
    Bella Hadid presents a creation from the spring/summer 2023 ready-to-wear collection by US designer Thom Browne at Paris Fashion Week. EPA
  • Gigi walks the runway during the Givenchy womenswear spring/summer 2023 show at Paris Fashion Week. Getty Images
    Gigi walks the runway during the Givenchy womenswear spring/summer 2023 show at Paris Fashion Week. Getty Images
  • Bella backstage prior to the Givenchy womenswear spring/summer 2023 show at Paris Fashion Week. Getty Images
    Bella backstage prior to the Givenchy womenswear spring/summer 2023 show at Paris Fashion Week. Getty Images
  • Bella walks the runway during the Vivienne Westwood womenswear spring/summer 2023 show at Paris Fashion Week. Getty Images
    Bella walks the runway during the Vivienne Westwood womenswear spring/summer 2023 show at Paris Fashion Week. Getty Images
  • Bella is dressed by spraying foam during the Coperni spring/summer 2023 fashion show at Paris Fashion Week. AFP
    Bella is dressed by spraying foam during the Coperni spring/summer 2023 fashion show at Paris Fashion Week. AFP
  • Gigi presents a creation for the Victoria Beckham spring/summer 2023 fashion show during Paris Fashion Week. AFP
    Gigi presents a creation for the Victoria Beckham spring/summer 2023 fashion show during Paris Fashion Week. AFP
  • Bella presents a creation for the Victoria Beckham spring/summer 2023 show at Paris Fashion Week. AFP
    Bella presents a creation for the Victoria Beckham spring/summer 2023 show at Paris Fashion Week. AFP
  • Bella presents a creation from the spring/summer 2023 ready-to-wear collection by French designer Isabel Marant at Paris Fashion Week. EPA
    Bella presents a creation from the spring/summer 2023 ready-to-wear collection by French designer Isabel Marant at Paris Fashion Week. EPA
  • Gigi walks the runway during the Chloe womenswear spring/summer 2023 show as part of Paris Fashion Week. Getty Images
    Gigi walks the runway during the Chloe womenswear spring/summer 2023 show as part of Paris Fashion Week. Getty Images
  • Gigi presents a creation for the Isabel Marant spring/summer 2023 fashion show during Paris Fashion Week. AFP
    Gigi presents a creation for the Isabel Marant spring/summer 2023 fashion show during Paris Fashion Week. AFP
  • Bella walks the runway of the Jil Sander fashion show during Milan Fashion Week. Getty Images
    Bella walks the runway of the Jil Sander fashion show during Milan Fashion Week. Getty Images
  • Bella walks the runway of the Versace fashion show during Milan Fashion Week. Getty Images
    Bella walks the runway of the Versace fashion show during Milan Fashion Week. Getty Images
  • Gigi presents a creation for Versace's women's spring/summer 2023 as part of Milan Fashion Week. AFP
    Gigi presents a creation for Versace's women's spring/summer 2023 as part of Milan Fashion Week. AFP

How Gigi and Bella Hadid became the supermodels of their generation


Sophie Prideaux
  • English
  • Arabic

If it weren't already established, last month solidified it: the Hadid sisters have taken over the fashion world. But how, exactly, did Gigi and Bella become the biggest supermodels of their generation? Let’s dive in.

Model childhood

Modelling has always been in the Hadid sisters’ genes — their mother is Dutch-American former model Yolanda Hadid.

Jelena Noura "Gigi", 27, started her modelling career at the age of 2, when she was discovered by Paul Marciano, co-founder of Guess. Throughout her childhood, she starred in several campaigns for Baby Guess, before taking a hiatus from modelling for school.

She returned to modelling in 2013, signing with international agency IMG Models. She made her runway debut the next year, walking for Desigual.

Bella, 25, found her way into modelling a little later, at the age of 16. She was an accomplished equestrian throughout her teenage years, with dreams of taking part in the 2016 Summer Olympics.

Her first modelling job was a commercial project for Flynn Skye in 2012.

From left to right: Yolanda Foster, Bella Hadid and Gigi Hadid. WireImage
From left to right: Yolanda Foster, Bella Hadid and Gigi Hadid. WireImage

Reality TV beginnings

The Hadid sisters had also become known for life away from catalogues and runways from a young age, thanks to their mother’s role on popular reality television series The Real Housewives of Beverly Hills.

The show often showed snippets of the sisters’ home lives and the start of their modelling careers, helped along by their parents (their father is Palestinian-Jordanian property tycoon Mohamed Hadid). The pair appeared in seasons three to six, although Gigi has spoken in the past of her efforts to avoid appearing on the show.

“That wasn't my life or a part of my growing up. My mom wasn't on TV until I was a senior in high school, so I was just on my way out of the house," she said in an interview with InStyle.

"But it was weird for me. I would come home from school and there would be production trucks outside. I would scale the staircase to my room so I wouldn't have to go say hi to my mom in the kitchen."

Scroll through the gallery below for Gigi Hadid's style evolution

  • Gigi Hadid, in a sheer white shirt and printed jeans, attends the People StyleWatch Hollywood Denim Party on September 20, 2012 in Santa Monica, California. Getty Images
    Gigi Hadid, in a sheer white shirt and printed jeans, attends the People StyleWatch Hollywood Denim Party on September 20, 2012 in Santa Monica, California. Getty Images
  • Gigi Hadid, in a pink layered mini dress, poses on Melbourne Cup Day at Flemington Racecourse on November 4, 2014 in Melbourne, Australia. Getty Images
    Gigi Hadid, in a pink layered mini dress, poses on Melbourne Cup Day at Flemington Racecourse on November 4, 2014 in Melbourne, Australia. Getty Images
  • Gigi Hadid, in a Pucci embellished dress, attends the 2015 Pirelli Calendar red carpet on November 18, 2014 in Milan, Italy. Getty Images
    Gigi Hadid, in a Pucci embellished dress, attends the 2015 Pirelli Calendar red carpet on November 18, 2014 in Milan, Italy. Getty Images
  • Gigi Hadid, in a leather jacket, attends the 2015 Pirelli Calendar press conference on November 18, 2014 in Milan, Italy. Getty Images
    Gigi Hadid, in a leather jacket, attends the 2015 Pirelli Calendar press conference on November 18, 2014 in Milan, Italy. Getty Images
  • Gigi Hadid, in a Prabal Gurung suit, arrives for the American Music Awards in Los Angeles on November 23, 2014. EPA
    Gigi Hadid, in a Prabal Gurung suit, arrives for the American Music Awards in Los Angeles on November 23, 2014. EPA
  • Gigi Hadid, in J Mendel separates, poses during the 2015 Sports Illustrated Swimsuit Issue party in New York on February 10, 2015. EPA
    Gigi Hadid, in J Mendel separates, poses during the 2015 Sports Illustrated Swimsuit Issue party in New York on February 10, 2015. EPA
  • Gigi Hadid, in a Balmain two-piece, and Kendall Jenner attend the Balmain aftershow dinner during Paris Fashion Week on March 5, 2015. Getty Images
    Gigi Hadid, in a Balmain two-piece, and Kendall Jenner attend the Balmain aftershow dinner during Paris Fashion Week on March 5, 2015. Getty Images
  • Gigi Hadid, in navy jersey, Jared Leto and Doutzen Kroes attend the Paris Fashion Week Tasting Night with Galaxy on March 7, 2015 in Paris, France. Getty Images
    Gigi Hadid, in navy jersey, Jared Leto and Doutzen Kroes attend the Paris Fashion Week Tasting Night with Galaxy on March 7, 2015 in Paris, France. Getty Images
  • Gigi Hadid, in scarlet Diane von Furstenberg, arrives for the Met Gala in New York on May 4, 2015. EPA
    Gigi Hadid, in scarlet Diane von Furstenberg, arrives for the Met Gala in New York on May 4, 2015. EPA
  • Gigi Hadid, in a plunging Tom Ford dress, attends amfAR's 22nd Cinema Against Aids Gala on May 21, 2015 in France. Getty Images
    Gigi Hadid, in a plunging Tom Ford dress, attends amfAR's 22nd Cinema Against Aids Gala on May 21, 2015 in France. Getty Images
  • Gigi Hadid, in Guess denim, poses at Myer Macquarie Centre on August 4, 2015 in Sydney, Australia. Getty Images
    Gigi Hadid, in Guess denim, poses at Myer Macquarie Centre on August 4, 2015 in Sydney, Australia. Getty Images
  • Gigi Hadid, in a Guess LBD, poses at the launch of the Guess Spring 2015 collectionon August 4, 2015 in Sydney, Australia. Getty Images
    Gigi Hadid, in a Guess LBD, poses at the launch of the Guess Spring 2015 collectionon August 4, 2015 in Sydney, Australia. Getty Images
  • Gigi Hadid, in a white crystal-studded mini dress, arrives ahead of the David Jones fashion show on August 5, 2015 in Sydney, Australia. Getty Images
    Gigi Hadid, in a white crystal-studded mini dress, arrives ahead of the David Jones fashion show on August 5, 2015 in Sydney, Australia. Getty Images
  • Gigi Hadid, in mustard Emilia Wickstead, arrives at the MTV Video Music Awards in Los Angeles on August 30, 2015. EPA
    Gigi Hadid, in mustard Emilia Wickstead, arrives at the MTV Video Music Awards in Los Angeles on August 30, 2015. EPA
  • Gigi Hadid, in silk-blend trousers and a taupe long-line gilet, attends the Serena Williams Signature Statement by HSN show in New York City on September 15, 2015. AFP
    Gigi Hadid, in silk-blend trousers and a taupe long-line gilet, attends the Serena Williams Signature Statement by HSN show in New York City on September 15, 2015. AFP
  • Kendall Jenner and Gigi Hadid, in Versace, attend the Vogue 95th Anniversary Party on October 3, 2015 in Paris, France. Getty Images
    Kendall Jenner and Gigi Hadid, in Versace, attend the Vogue 95th Anniversary Party on October 3, 2015 in Paris, France. Getty Images
  • Gigi Hadid, in Bao Tranchi separates, arrives at the American Music Awards in Los Angeles on November 22, 2015. EPA
    Gigi Hadid, in Bao Tranchi separates, arrives at the American Music Awards in Los Angeles on November 22, 2015. EPA
  • Gigi Hadid, in a sleek LBD, attends the Maybelline fashion show on January 18, 2016 in Berlin, Germany. Getty Images
    Gigi Hadid, in a sleek LBD, attends the Maybelline fashion show on January 18, 2016 in Berlin, Germany. Getty Images
  • Zayn Malik and Gigi Hadid, in scarlet sweats, leave their East Village apartment on March 25, 2016 in New York City. Getty Images
    Zayn Malik and Gigi Hadid, in scarlet sweats, leave their East Village apartment on March 25, 2016 in New York City. Getty Images
  • Gigi Hadid, in a pinstriped Versace suit, arrives at the MTV Movie Awards in California on April 9, 2016. EPA
    Gigi Hadid, in a pinstriped Versace suit, arrives at the MTV Movie Awards in California on April 9, 2016. EPA
  • Zayn Malik and Gigi Hadid, in armour-like Tommy Hilfiger, arrive at the Met Gala in New York on May 2, 2016. EPA
    Zayn Malik and Gigi Hadid, in armour-like Tommy Hilfiger, arrive at the Met Gala in New York on May 2, 2016. EPA
  • Gigi Hadid, in David Koma, arrives for the 10th Annual Guys Choice Awards in California on June 4, 2016. EPA
    Gigi Hadid, in David Koma, arrives for the 10th Annual Guys Choice Awards in California on June 4, 2016. EPA
  • Gigi Hadid, in white jeans and a slogan vest, attends the Puma fashion show on September 2, 2016 in Berlin, Germany. Getty Images
    Gigi Hadid, in white jeans and a slogan vest, attends the Puma fashion show on September 2, 2016 in Berlin, Germany. Getty Images
  • Gigi Hadid, in Versace, and Zayn Malik attend the Versus Versace show during London Fashion Week on September 17, 2016 in London. Getty Images
    Gigi Hadid, in Versace, and Zayn Malik attend the Versus Versace show during London Fashion Week on September 17, 2016 in London. Getty Images
  • Zayn Malik and Gigi Hadid, in Givenchy, attend the Givenchy show as part of Paris Fashion Week on October 2, 2016 in Paris, France. Getty Images
    Zayn Malik and Gigi Hadid, in Givenchy, attend the Givenchy show as part of Paris Fashion Week on October 2, 2016 in Paris, France. Getty Images
  • Gigi Hadid, in a Julien Macdonald lace gown, arrives for the American Music Awards in California on November 20, 2016. EPA
    Gigi Hadid, in a Julien Macdonald lace gown, arrives for the American Music Awards in California on November 20, 2016. EPA
  • Gigi Hadid, in metallic Versace, attends the 2016 Victoria's Secret Fashion Show after party on November 30, 2016 in Paris, France. Getty Images
    Gigi Hadid, in metallic Versace, attends the 2016 Victoria's Secret Fashion Show after party on November 30, 2016 in Paris, France. Getty Images
  • Gigi Hadid, in Atelier Versace, attends The Fashion Awards 2016 on December 5, 2016 in London. Getty Images
    Gigi Hadid, in Atelier Versace, attends The Fashion Awards 2016 on December 5, 2016 in London. Getty Images
  • Gigi Hadid, in leather trousers and a Tommy Hilfiger hoodie, at Paris Fashion Week on February 28, 2017 in Paris, France. Getty Images
    Gigi Hadid, in leather trousers and a Tommy Hilfiger hoodie, at Paris Fashion Week on February 28, 2017 in Paris, France. Getty Images
  • Gigi Hadid, in a Tommy Hilfilger blazer dress, arrives at the Met Gala in New York on May 1, 2017. EPA
    Gigi Hadid, in a Tommy Hilfilger blazer dress, arrives at the Met Gala in New York on May 1, 2017. EPA
  • Gigi Hadid, in Tommy Hilfiger, presents her TommyXGigi collection on September 26, 2017 in Barcelona, Spain. Getty Images
    Gigi Hadid, in Tommy Hilfiger, presents her TommyXGigi collection on September 26, 2017 in Barcelona, Spain. Getty Images
  • Gigi Hadid, in a Brandon Maxwell shirt dress, attends the Messika party during Paris Fashion Week on September 27, 2017 in Paris, France. Getty Images
    Gigi Hadid, in a Brandon Maxwell shirt dress, attends the Messika party during Paris Fashion Week on September 27, 2017 in Paris, France. Getty Images
  • Gigi Hadid, in canary Ralph Lauren, attends the Gigi Hadid X Maybelline party on November 7, 2017 in London. Getty Images
    Gigi Hadid, in canary Ralph Lauren, attends the Gigi Hadid X Maybelline party on November 7, 2017 in London. Getty Images
  • Zayn Malik and Gigi Hadid, in a leather coat, seen on January 12, 2018 in New York City. Getty Imahes
    Zayn Malik and Gigi Hadid, in a leather coat, seen on January 12, 2018 in New York City. Getty Imahes
  • Gigi Hadid, in shimmering Atelier Versace, arrives at the Met Gala in New York on May 7, 2018. EPA
    Gigi Hadid, in shimmering Atelier Versace, arrives at the Met Gala in New York on May 7, 2018. EPA
  • Gigi Hadid, in Paco Rabanne, arrives at the premiere for 'Ocean's 8' in New York on June 5, 2018. EPA
    Gigi Hadid, in Paco Rabanne, arrives at the premiere for 'Ocean's 8' in New York on June 5, 2018. EPA
  • Bella and Gigi Hadid, in a striped off-shoulder shirt, at the US Open Tennis Championships in New York on September 4, 2018. EPA
    Bella and Gigi Hadid, in a striped off-shoulder shirt, at the US Open Tennis Championships in New York on September 4, 2018. EPA
  • Gigi Hadid, in Reebok athleisure, attends the Reebok talk event on November 14, 2018 in Tokyo, Japan. Getty Images
    Gigi Hadid, in Reebok athleisure, attends the Reebok talk event on November 14, 2018 in Tokyo, Japan. Getty Images
  • Gigi Hadid, in a cosy knit and checked coat, and Karlie Kloss attend the launch of Evian and Virgil Abloh’s limited-edition collection in Paris on February 25, 2019. Getty Images
    Gigi Hadid, in a cosy knit and checked coat, and Karlie Kloss attend the launch of Evian and Virgil Abloh’s limited-edition collection in Paris on February 25, 2019. Getty Images
  • Gigi Hadid, in Prada, attends the 'Double Exposure' book signing on February 27, 2019 in Paris, France. Getty Images
    Gigi Hadid, in Prada, attends the 'Double Exposure' book signing on February 27, 2019 in Paris, France. Getty Images
  • Gigi Hadid, in silver Michael Kors, arrives at the Met Gala in New York on May 6, 2019. EPA
    Gigi Hadid, in silver Michael Kors, arrives at the Met Gala in New York on May 6, 2019. EPA
  • Gigi Hadid, in Louis Vuitton, attends the Louis Vuitton show during Paris Fashion Week on June 20, 2019 in Paris, France. Getty Images
    Gigi Hadid, in Louis Vuitton, attends the Louis Vuitton show during Paris Fashion Week on June 20, 2019 in Paris, France. Getty Images
  • Gigi Hadid, in Tom Ford, arrives on the red carpet for the MTV Video Music Awards in New Jersey on August 26, 2019. EPA
    Gigi Hadid, in Tom Ford, arrives on the red carpet for the MTV Video Music Awards in New Jersey on August 26, 2019. EPA
  • Gigi Hadid, in an oversized denim jacket, at the US Open Tennis Championships in New York on August 28, 2019. EPA
    Gigi Hadid, in an oversized denim jacket, at the US Open Tennis Championships in New York on August 28, 2019. EPA
  • Bella and Gigi Hadid, in Tommy Hilfiger, at the Tommy Hilfiger show during New York Fashion Week on September 8, 2019. EPA
    Bella and Gigi Hadid, in Tommy Hilfiger, at the Tommy Hilfiger show during New York Fashion Week on September 8, 2019. EPA
  • Gigi Hadid, in a woollen blazer, attends the Tribute to the Karl Lagerfeld: The White Shirt Project exhibition in Paris on September 25, 2019. Getty Images
    Gigi Hadid, in a woollen blazer, attends the Tribute to the Karl Lagerfeld: The White Shirt Project exhibition in Paris on September 25, 2019. Getty Images
  • Gigi Hadid, in baby blue Burberry, poses at the WSJ Mag 2019 Innovator Awards in New York in November 6, 2019. EPA
    Gigi Hadid, in baby blue Burberry, poses at the WSJ Mag 2019 Innovator Awards in New York in November 6, 2019. EPA
  • Gigi Hadid, in washed black jeans and a checked gilet, in New York on January 16, 2020. EPA
    Gigi Hadid, in washed black jeans and a checked gilet, in New York on January 16, 2020. EPA
  • Gigi Hadid, in Prada, attends a dinner co-hosted by Prada and 'Vogue Paris' on January 19, 2020 in Paris, France. Getty Images
    Gigi Hadid, in Prada, attends a dinner co-hosted by Prada and 'Vogue Paris' on January 19, 2020 in Paris, France. Getty Images
  • Gigi Hadid, in Chanel, attends the Harper's Bazaar Exhibition as part of Paris Fashion Week on February 26, 2020. Getty Images
    Gigi Hadid, in Chanel, attends the Harper's Bazaar Exhibition as part of Paris Fashion Week on February 26, 2020. Getty Images

Bella, however, has spoken of the experience in a different manner.

"Being on the show wasn't me trying to get famous," she told Elle of her cameos. "It was just trying to make my mom happy."

The show helped to cement their positions among Los Angeles' new generation of “it girls”, alongside fellow A-list offspring including Kendall Jenner, Hailey Bieber and Miley Cyrus.

It wasn't long before the sisters' ever-growing number of Instagram followers helped fashion brands to see their reach, and their modelling careers started to grow at the same break-neck speed.

Gigi credits Carine Roitfeld for giving her her “big break” in 2014, when she put her on the cover of CR Fashion Book. Soon after, she landed her first Tom Ford campaign and became a regular fixture at New York Fashion Week.

Bella made her New York Fashion Week debut in the autumn/winter season of 2014, and shortly afterwards booked her first solo fashion cover on the December issue of Jalouse.

Fashion’s elite

Fast-forward eight years, and it’s hard to pick up a magazine or watch a runway show that one of the sisters does not feature in. Gigi has 37 Vogue covers alone under her belt, while Bella has 27, appeared on her first solo US Vogue cover in April.

The sisters are among the highest-paid models of 2022, with Gigi earning an estimated $20 million, and Bella right behind her with $19m, according to Forbes.

Between them, they have walked for almost every major fashion house in existence, and have fronted several beauty campaigns.

Viral moments

Bella was central to perhaps one of the most-talked-about moments in fashion this year, closing the Coperni show at Paris Fashion Week.

Members of team Coperni sprayed a dress onto her using a patented spray-on fabric developed by London-based company Fabrican. Nine minutes later, Hadid was sporting a very real, white off-the-shoulder pencil dress, which looked as if it could have been cut from silk.

She also sported a double Mohawk for Thom Browne in Paris, was a purple bride for Versace in Milan, and enjoyed a sisterly moment alongside Gigi at the Victoria Beckham show in Paris.

Gigi also made several headlines this fashion month, not least for shutting down Kanye West over his comments to Vogue editor Gabriella Karefa-Johnson. Hadid called the rapper a bully for his public criticism of the writer, after she critiqued his Paris Fashion Week show.

Gigi also featured on the runways of Stella McCartney, Chloe, Isabel Marant and Givenchy in Paris.

One has to wonder what's next from here.

RESULTS

6.30pm: Emirates Holidays Maiden (TB) Dh 82,500 (Dirt) 1,900m
Winner: Lady Snazz, Richard Mullen (jockey), Satish Seemar (trainer).

7.05pm: Arabian Adventures Maiden (TB) Dh 82,500 (D) 1,200m
Winner: Zhou Storm, Connor Beasley, Ali Rashid Al Raihe.

7.40pm: Emirates Skywards Handicap (TB) Dh 82,500 (D) 1,200m
Winner: Rich And Famous, Royston Ffrench, Salem bin Ghadayer.

8.15pm: Emirates Airline Conditions (TB) Dh 120,000 (D) 1,400m
Winner: Rio Angie, Sam Hitchcock, Doug Watson.

8.50pm: Emirates Sky Cargo (TB) Dh 92,500 (D) 1,400m
Winner: Kinver Edge, Richard Mullen, Satish Seemar.

9.15pm: Emirates.com (TB) Dh 95,000 (D) 2,000m
Winner: Firnas, Xavier Ziani, Salem bin Ghadayer.

CREW
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ERajesh%20A%20Krishnan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ETabu%2C%20Kareena%20Kapoor%20Khan%2C%20Kriti%20Sanon%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

The Cairo Statement

 1: Commit to countering all types of terrorism and extremism in all their manifestations

2: Denounce violence and the rhetoric of hatred

3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC  

4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.

5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.

6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security

Directed by: Craig Gillespie

Starring: Emma Stone, Emma Thompson, Joel Fry

4/5

Medicus AI

Started: 2016

Founder(s): Dr Baher Al Hakim, Dr Nadine Nehme and Makram Saleh

Based: Vienna, Austria; started in Dubai

Sector: Health Tech

Staff: 119

Funding: €7.7 million (Dh31m)

 

Teri%20Baaton%20Mein%20Aisa%20Uljha%20Jiya
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Amit%20Joshi%20and%20Aradhana%20Sah%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECast%3A%3C%2Fstrong%3E%20Shahid%20Kapoor%2C%20Kriti%20Sanon%2C%20Dharmendra%2C%20Dimple%20Kapadia%2C%20Rakesh%20Bedi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A

Company Profile

Company name: NutriCal

Started: 2019

Founder: Soniya Ashar

Based: Dubai

Industry: Food Technology

Initial investment: Self-funded undisclosed amount

Future plan: Looking to raise fresh capital and expand in Saudi Arabia

Total Clients: Over 50

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 PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

Updated: June 23, 2023, 3:01 PM