Valentino’s autumn/winter 2021 couture collection: a riot of colour and creativity


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Valentino’s creative director Pierpaolo Piccioli unveiled the fashion house's autumn/winter 2021 haute couture collection in Venice on Thursday, and it was an explosion of colour.

Running to an impressive 84 looks for men and women, Piccioli's collection delivered romantic, yet modern silhouettes, nodding to the heritage of the house, while remaining resolutely his own.

Caped trouser suits, trapeze silhouettes, micro-puff ball dresses and mid-calf skirts all swept the runway, culminating in a parade of floating ball gowns, all in an uplifting palette of raspberry, lilac, chartreuse, aubergine, pea green, violet, burnt chocolate and orchid pink.

A caped men's look from Valentino haute couture in tones of raspberry, flamingo pink and fuchsia. Courtesy Valentino
A caped men's look from Valentino haute couture in tones of raspberry, flamingo pink and fuchsia. Courtesy Valentino

Philip Treacy-crafted wide hats covered in ostrich feathers undulated like jellyfish with every step, while long stoles slid off shoulders and long opera gloves in burnt copper, mustard or arctic blue covered arms.

Piccioli invited 16 artists to collaborate on select looks in the collection, shown in a centuries-old shipyard in Venice, to echo the cultured and artistic history of the city.

With the firmly held belief that “painting is to contemporary art what haute couture is to fashion”, Piccioli encouraged the artists to draw, sketch and paint designs. They were then brought to life by the atelier, with one seemingly simple look covered in fluid pen strokes, which turned out to be hand-stitching on silk so delicate it took almost 900 hours to complete.

A silk dress covered in artwork by Benni Bosetto, now hand-stitched into the garment, in a process that took more than 900 hours to complete. Courtesy Valentino
A silk dress covered in artwork by Benni Bosetto, now hand-stitched into the garment, in a process that took more than 900 hours to complete. Courtesy Valentino

Piccioli is a master of conjuring emotions, through the sheer visual beauty of his shows and the soaring live music he selects to accompany them.

With the voice of British singer Cosima echoing out across the water, the show, with its rich, decadent and ultimately joyful colours, felt like the end of one thing and the start of another.

Against the dark interior of the 500-year-old building, it seemed to offer a reminder that nothing stays for ever, and this, too, shall pass. With the dark menace of the pandemic still hovering over us all, this dazzling, astonishing and exquisitely beautiful collection feels like something akin to a rebirth.

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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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9.25pm Franz Kafka

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The BIO:

He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal

He ascended Mount Everest the next year from the more treacherous north Tibetan side

By 2015, he had completed the Explorers Grand Slam

Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border

He carries dried camel meat, dried dates and a wheat mixture for the final summit push

His new goal is to climb 14 peaks that are more than 8,000 metres above sea level

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Updated: July 16, 2021, 12:02 PM