• A look from the Fendi by Versace collection, which saw Kim Jones and Silvia Venturini Fendi expressing their interpretation of Versace
    A look from the Fendi by Versace collection, which saw Kim Jones and Silvia Venturini Fendi expressing their interpretation of Versace
  • Gigi Hadid models an outfit from the new Fendi by Versace collection
    Gigi Hadid models an outfit from the new Fendi by Versace collection
  • Naomi Campbell walks the runway at the Fendace show
    Naomi Campbell walks the runway at the Fendace show
  • Emily Ratajkowski models Fendi by Versace
    Emily Ratajkowski models Fendi by Versace
  • Adut Akech wears Fendi by Versace on the runway
    Adut Akech wears Fendi by Versace on the runway
  • Fendi by Versace accessories
    Fendi by Versace accessories
  • A look from the Fendi by Versace collection
    A look from the Fendi by Versace collection
  • A look from the Fendi by Versace collection
    A look from the Fendi by Versace collection
  • A look from the Fendi by Versace collection
    A look from the Fendi by Versace collection
  • A look from the Fendi by Versace collection
    A look from the Fendi by Versace collection
  • A look from the Fendi by Versace collection
    A look from the Fendi by Versace collection
  • A look from the Versace by Fendi collection
    A look from the Versace by Fendi collection
  • A look from the Versace by Fendi collection
    A look from the Versace by Fendi collection
  • A look from the Versace by Fendi collection
    A look from the Versace by Fendi collection
  • A look from the Versace by Fendi collection
    A look from the Versace by Fendi collection
  • A look from the Versace by Fendi collection
    A look from the Versace by Fendi collection
  • A look from the Versace by Fendi collection
    A look from the Versace by Fendi collection
  • A look from the Versace by Fendi collection
    A look from the Versace by Fendi collection
  • A look from the Versace by Fendi collection
    A look from the Versace by Fendi collection
  • A look from the Versace by Fendi collection
    A look from the Versace by Fendi collection
  • Kate Moss and Amber Valetta model looks from the Versace by Fendi collection. Photo: Versace
    Kate Moss and Amber Valetta model looks from the Versace by Fendi collection. Photo: Versace

Fashion giants Fendi and Versace team up in a show of Italian solidarity


Selina Denman
  • English
  • Arabic

Anticipation had been building since cryptic gold-and-white invitations were sent out last week, signed “Donatella” and inviting guests to “something special”. Rumours quickly spread that Versace would be collaborating with Fendi on a secret show.

On Sunday night, the two Italian powerhouses unveiled their joint collections at a star-studded show that disrupted traditional fashion conventions. Fendace, as it has been nicknamed, was not a collaboration, the designers were quick to point out, but rather “a coming together”.

It involved the creative directors of both houses swapping roles, with Donatella Versace sharing her vision of Fendi, and Kim Jones and Silvia Venturini Fendi expressing their interpretation of Versace.

“Both a celebration of Italian fashion and a to-hell-with-it disruption of the established order of things, Fendace is Fashion with a capital F – and a capital V. Together they stand for freedom, fun and virtuosity,” the designers said.

Inspired by Versace’s creative output in the mid to late-1990s, Versace by Fendi was an exploration of duality and featured a melding of the Fendi Monogram and Versace Greek Key motifs. Garments were fluid and transformative, in many cases reversible or featuring hidden features. It was celebration, above all, of the exceptional craftsmanship of the Fendi atelier.

Fendi by Versace, meanwhile, embraced more of a punk rock stance, with Versace safety pins puncturing Fendi motifs and symbols. Chain mail was mixed with lace and crystal-encrusted Fs, while silk faille mimicked denim.

“It’s a first in the history of fashion: two designers having a true creative dialogue that stems from respect and friendship. It led to us swapping roles to create these two collections,” said Donatella.

“Friends, idols, mentors ... It’s the beauty of togetherness,” added Jones, artistic director Fendi couture and womenswear.

On the runway, famous names from across the generations made an appearance, including Adut Akech, Naomi Campbell, Gigi Hadid, Imaan Hammam, Stella Maxwell, Kate Moss, Lila Moss, Emily Ratajkowski, Anja Rubik, Irina Shayk and Amber Valletta.

It was a powerful show of solidarity and a positive marker of how things might be done in a post-pandemic fashion world – a world of collaboration, cross-pollination and unification. The precedent has already been set: last year, designer Raf Simons and Miuccia Prada announced that they would be equal partners at Prada, while in April, Gucci presented a show that referenced rival brand Balenciaga.

UAE currency: the story behind the money in your pockets
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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.”

Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

CREW
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Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

Favourite things

Luxury: Enjoys window shopping for high-end bags and jewellery

Discount: She works in luxury retail, but is careful about spending, waits for sales, festivals and only buys on discount

University: The only person in her family to go to college, Jiang secured a bachelor’s degree in business management in China

Masters: Studying part-time for a master’s degree in international business marketing in Dubai

Vacation: Heads back home to see family in China

Community work: Member of the Chinese Business Women’s Association of the UAE to encourage other women entrepreneurs

Seemar’s top six for the Dubai World Cup Carnival:

1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition

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Blonde
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The Light of the Moon

Director: Jessica M Thompson

Starring: Stephanie Beatriz, Michael Stahl-David

Three stars

The Africa Institute 101

Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction. 

Updated: September 27, 2021, 11:19 AM