Liu Haocun stars in the short film celebrating the Chinese New Year directed by Shujun Wei for Miu Miu. Photo: Miu Miu
Liu Haocun stars in the short film celebrating the Chinese New Year directed by Shujun Wei for Miu Miu. Photo: Miu Miu
Liu Haocun stars in the short film celebrating the Chinese New Year directed by Shujun Wei for Miu Miu. Photo: Miu Miu
Liu Haocun stars in the short film celebrating the Chinese New Year directed by Shujun Wei for Miu Miu. Photo: Miu Miu

Black Book: From Miu Miu to Hublot, the brands embracing Chinese New Year


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Each week, Black Book keeps you up to speed with the latest releases in fashion, watches and beyond. Here, we take a closer look at brands focusing on the fortnight starting January 29, when an estimated two billion people globally will celebrate Chinese New Year. The 15-day festival bids farewell to the old lunar year and welcomes in the new Year of the Snake.

Increasingly, global luxury brands are eyeing this celebration as an opportunity to show relevance or to introduce themselves to a new audience. Money is the primary gift on Chinese New Year, in small red envelopes called hongbao. However, it is also permissible to add items such as jackets, hats, scarves and gloves as these express concern for the recipient's wellbeing.

There are strict rules governing what can be gifted (tea) and what cannot (watches or clocks) that a brand must navigate if it hopes to connect with customers. Red makes its way into most campaigns, as the colour is associated with prosperity and life-generating energy, such as fire and blood. Another way to navigate gift etiquette is to offer limited-edition pieces around the lucky number eight.

Here we look at just some of the brands eyeing the Lunar New Year and their approaches.

Faure Le Page

Chinese New Year Daily Battle bag in coated canvas by Faure Le Page. Photo: Faure Le Page
Chinese New Year Daily Battle bag in coated canvas by Faure Le Page. Photo: Faure Le Page

Renowned French bag maker Faure Le Page is embracing Chinese New Year with classic pieces reworked in vibrant reds and blues. The Daily Battle tote bag, Pochette Zip and various wallets incorporate motifs of snakes, which are said to embody wisdom, transformation and intuition in Chinese mythology.

Valentino

Actress Sun Li stars in the Valentino Year of the Snake film and campaign. Photo: Valentino
Actress Sun Li stars in the Valentino Year of the Snake film and campaign. Photo: Valentino

Looking to brand ambassadors Sun Li and Jolin Tsai, Valentino has created a film around tradition and friendship. Set in an all-red room – a colour associated with luck in Chinese culture – the women are dressed in looks and carrying bags by the new creative director Alessandro Michele.

Arc’teryx

The Alpha SV jacket reworked for the Year of the Snake. Photo: Arc’teryx
The Alpha SV jacket reworked for the Year of the Snake. Photo: Arc’teryx

South Korean-American artist Romon Kimin Yang reworked Arc’teryx's Alpha SV jacket to honour the Lunar New Year. With jackets an ideal gift, this has a snake design on the left sleeve. Priced at Dh4,115 and limited to just 80 pieces, it is already appearing on re-sale sites.

Hublot

The Spirit of Big Bang Year of the Snake watch by Hublot is limited to 88 pieces, a nod to 8 being a lucky number in Chinese culture. Photo: Hublot
The Spirit of Big Bang Year of the Snake watch by Hublot is limited to 88 pieces, a nod to 8 being a lucky number in Chinese culture. Photo: Hublot

While gifting a watch is considered a no-no in Chinese culture, you can certainly treat yourself to one. Swiss watchmaker Hublot has released a new edition of its Spirit of Big Bang watch, that has a black ceramic case and a bezel engraved with a snakeskin pattern that continues with the serpent looped across the dial. It is powered by an automatic skeleton chronograph calibre HUB4700, a descendant of the El Primero calibre, updated with a low-friction silicon escape wheel. Limited to just 88 pieces, it is already a collector's item.

Arnold & Son

The Perpetual Moon 41.5 red gold Year of the Snake watch by Arnold & Son. Photo: Arnold & Son
The Perpetual Moon 41.5 red gold Year of the Snake watch by Arnold & Son. Photo: Arnold & Son

Arnold & Son has also created a limited-edition watch in celebration, called the Perpetual Moon 41.5 red gold Year of the Snake. A hand-engraved, 18-carat rose gold snake dominates the dial, coiled around a Ginkgo biloba tree, set against a blue aventurine glass sky featuring the constellations of Ursa Major and Cassiopeia.

Miu Miu

Zhao Jinmai stars in the short film by Miu Miu celebrating the Chinese New Year. Photo: Miu Miu
Zhao Jinmai stars in the short film by Miu Miu celebrating the Chinese New Year. Photo: Miu Miu

Miu Miu is another Italian house embracing Chinese New Year with a film. Directed by Chinese screenwriter and filmmaker Shujun Wei, it stars brand ambassadors Zhao Jinmai and Liu Haocun. They are dressed in oversized jumpers, preppy tweeds and jewelled denim, while carrying Penny, Wander and Arcadie bags, decorated with crochet serpent bag charms.

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.”

Champions League Last 16

Red Bull Salzburg (AUT) v Bayern Munich (GER) 

Sporting Lisbon (POR) v Manchester City (ENG) 

Benfica (POR) v Ajax (NED) 

Chelsea (ENG) v Lille (FRA) 

Atletico Madrid (ESP) v Manchester United (ENG) 

Villarreal (ESP) v Juventus (ITA) 

Inter Milan (ITA) v Liverpool (ENG) 

Paris Saint-Germain v Real Madrid (ESP)  

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Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

Dirham Stretcher tips for having a baby in the UAE

Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:

• Buy second hand stuff

 They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.

• Get a health card and vaccinate your child for free at government health centres

 Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.

• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.

Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.

• Once baby is ready for solids, cook at home

Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.

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Our legal consultant

Name: Hassan Mohsen Elhais

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

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

Revival
Eminem
Interscope

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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Updated: January 17, 2025, 10:03 AM