Marion Cotillard in Christian Dior creations. Christian Dior
Marion Cotillard in Christian Dior creations. Christian Dior
Marion Cotillard in Christian Dior creations. Christian Dior
Marion Cotillard in Christian Dior creations. Christian Dior

An exhibition dedicated to the legacy of Dior is coming to the Middle East


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On the back of successful tours of London, Paris and Shanghai, an exhibition that chronicles the legacy of Christian Dior is coming to the Middle East.

Dior has just announced that Christian Dior: Designer of Dreams will open at Qatari design hub M7 in Doha in November. While exact dates are yet to be released, the show is scheduled to run for four months, until March 2022.

A collection of pale gowns will appear in New York as part of the Christian Dior: Designer Of Dreams exhibition. Adrien Dirand
A collection of pale gowns will appear in New York as part of the Christian Dior: Designer Of Dreams exhibition. Adrien Dirand

Covering 70 years of Dior design, the show will encompass the work of the eponymous brand's founder, from the famous "new look" that started it all in 1947, through his love of the Palace of Versailles in Paris, and the gardens that gave him so much inspiration. The exhibition will also outline how, after Dior's death in 1957, designers such as Yves Saint Laurent and Marc Bohan continued the house, drawing threads from Dior's work into their own.

A rare display of haute couture by Dior's successors Saint Laurent and Bohan, as well as Gianfranco Ferre and John Galliano, will be displayed as part of the exhibition, along with the more recent designs of Raf Simons, and the house's present creative director Maria Grazia Chiuri.

Having started its tour in Paris in 2019, the show travelled to London and Shanghai, before it was halted by the pandemic. Now, as the world begins to cautiously reopen, Dior is celebrating by staging not one, but two simultaneous exhibitions. The first will open in New York in September, while a different version will arrive in Qatar in November.

Both are curated by Olivier Gabet, director of the Musee des Arts Decoratifs, Paris, who will redesign the exhibition especially for Qatar, to include new scenography and pieces previously never seen before in public. The show will also include pieces from the museum that reflect the label.


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Section 375

Cast: Akshaye Khanna, Richa Chadha, Meera Chopra & Rahul Bhat

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Producers: Kumar Mangat Pathak, Abhishek Pathak & SCIPL

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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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Updated: August 04, 2021, 12:01 PM