Matthieu Blazy has been named the new creative director of Chanel. Yvonne Tnt / Shutterstock
Matthieu Blazy has been named the new creative director of Chanel. Yvonne Tnt / Shutterstock
Matthieu Blazy has been named the new creative director of Chanel. Yvonne Tnt / Shutterstock
Matthieu Blazy has been named the new creative director of Chanel. Yvonne Tnt / Shutterstock

What does Matthieu Blazy's move to Chanel and Louise Trotter's to Bottega Veneta mean for both brands?


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The fashion merry-go-round can often be confusing. As we've noted before, announcements of creative directors tend to come in batches and can leave the casual observer scratching their head.

Thus week's round of musical chairs is just the latest in the ever-moving fashion world. Chanel has named Matthieu Blazy – who was most recently the creative director of luxury Italian label Bottega Veneta – as its new artistic director of fashion activities. Louise Trotter, meanwhile, will succeed Blazy at Bottega Veneta creative director.

There have been plenty of other big moves this year. In October this year Kim Jones stepped away from his role at Fendi and Hedi Slimane quit Celine. Dries Van Noten left his namesake brand in June, and just days ago John Galliano announced that he was leaving Maison Margiela after a decade.

While such departures cause tidal waves, they also free up space for talented designers and open coveted roles for the next round of opportunity, sparking a new era of creativity and energy.

Matthieu Blazy at Chanel

Blazy's ideas will be revealed by the French house in October 2025 during Paris Fashion Week, where he will oversee haute couture, ready-to-wear and accessories. His appointment makes him only the fourth person to head fashion's second largest house, following in the steps of Virginie Viard, Karl Lagerfeld and the founder Gabrielle 'Coco' Chanel herself.

The rumours of who would take over at what is arguably one of fashion's greatest prizes have been swirling since June, when then-creative director Viard stepped down after five years, with the likes of Hedi Slimane, Simon Porte Jacquemus, Marc Jacobs and Blazy all linked to the role.

Blazy was considered a front-runner thanks to his work at Bottega Veneta, where he has spent the past three years artfully doubling down on its heritage and Italian know-how.

He has reinvented mundane items to seismic effect, transforming the simple vest, a checked shirt and sweat pants into exquisite must-haves fashioned from woven leather, while elevating humble denim into an artisanal item.

A shot from The National's Luxury September cover shoot featuring Bottega Venetta designs from Matthieu Blazy's tenure. The National
A shot from The National's Luxury September cover shoot featuring Bottega Venetta designs from Matthieu Blazy's tenure. The National

Since taking over in late 2021, following the abrupt departure of Daniel Lee (who now heads Burberry) Blazy has worked with a light, subtle touch. Aged just 40, he is well-versed in pop culture, bringing the likes of actor Jacob Elordi and rapper A$AP Rocky on board, sparking multiple social media moments, despite Bottega having no social media presence, which is quite a feat.

This is undoubtedly some of the magic Chanel will be looking to capitalise on. Like many brands, Chanel is feeling the effect of the downshift in luxury spending, as financial belts are tightened.

Blazy's proven record of nailing both men's and women's wardrobes, signals that the house might be eyeing a possible extension into menswear. A women's maison, Chanel may have created one-off men's collection in the past, but has no permanent offering other than watches.

Blazy's departure from Bottega Veneta has triggered another move, with Carven creative director Trotter taking over where Blazy left off.

Louise Trotter at Bottega Venta

Louise Trotter has been appointed creative director of Bottega Veneta. Photo: Bottega Veneta
Louise Trotter has been appointed creative director of Bottega Veneta. Photo: Bottega Veneta

Staying true to Bottega's tendency towards more obscure hires, they have sought out Trotter. She has been creative director at the French company Carven for two years and helped steer the brand back into relevance. Previously she was at Lacoste and Joseph, where she brought a more fashion-forward attitude.

Now tasked with bringing her voice to the Italian house, she is the only woman leading a brand owned by Kering, which also controls Gucci, Saint Laurent, Alexander McQueen and Balenciaga. Bottega Veneta chief executive Leo Rongone announced her arrival by saying that “her aesthetic seamlessly combines exquisite design with sublime craft and her commitment to cultural advocacy aligns beautifully with our brand vision. Through her sophisticated lens, Bottega Veneta will continue to celebrate its heritage while preserving modern relevance.”

Will Trotter be able to handle the house of Bottega with her relative inexperience? We will have to wait and see, but the new era will be fascinating.

Bharat

Director: Ali Abbas Zafar

Starring: Salman Khan, Katrina Kaif, Sunil Grover

Rating: 2.5 out of 5 stars

Drivers’ championship standings after Singapore:

1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68

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.”

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)

 

Golden Shoe top five (as of March 1):

Harry Kane, Tottenham, Premier League, 24 goals, 48 points
Edinson Cavani, PSG, Ligue 1, 24 goals, 48 points
Ciro Immobile, Lazio, Serie A, 23 goals, 46 points
Mohamed Salah, Liverpool, Premier League, 23 goals, 46 points
Lionel Messi, Barcelona, La Liga, 22 goals, 44 points

Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding

Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.

Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.

Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.

For more details, email openminds@cultures.ae or visit www.cultures.ae

 

Dolittle

Director: Stephen Gaghan

Stars: Robert Downey Jr, Michael Sheen

One-and-a-half out of five stars

The 12 breakaway clubs

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

RESULTS

5pm: Maiden (PA) Dh80,000 2,200m
Winner: Arjan, Fabrice Veron (jockey), Eric Lemartinel (trainer).

5.30pm: Maiden (PA) Dh80,000 1,400m​​​​​​​
Winner: Jap Nazaa, Royston Ffrench, Irfan Ellahi.

6pm: Al Ruwais Group 3 (PA) Dh300,000 1,200m​​​​​​​
Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinal.

6.30pm: Shadwell Gold Cup Prestige Dh125,000 1,600m​​​​​​​
Winner: AF Sanad, Bernardo Pinheiro, Khalifa Al Neyadi.

7pm: Shadwell Farm Stallions Handicap (PA) Dh70,000 1,600m​​​​​​​
Winner: Jawal Al Reef, Patrick Cosgrave, Abdallah Al Hammadi.

7.30pm: Maiden (TB) Dh80,000 1,600m​​​​​​​
Winner: Dubai Canal, Harry Bentley, Satish Seemar.

The National in Davos

We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.

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.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Marathon results

Men:

 1. Titus Ekiru(KEN) 2:06:13 

2. Alphonce Simbu(TAN) 2:07:50 

3. Reuben Kipyego(KEN) 2:08:25 

4. Abel Kirui(KEN) 2:08:46 

5. Felix Kemutai(KEN) 2:10:48  

Women:

1. Judith Korir(KEN) 2:22:30 

2. Eunice Chumba(BHR) 2:26:01 

3. Immaculate Chemutai(UGA) 2:28:30 

4. Abebech Bekele(ETH) 2:29:43 

5. Aleksandra Morozova(RUS) 2:33:01  

Updated: December 13, 2024, 11:59 AM