It doesn’t help that I’ve only got 20 minutes to chat with S T Dupont’s CEO Alain Crevet, given that his opening line is: “I could talk about S T Dupont all day.” He means both the brand and the man, and the latter cuts a fascinating figure indeed. Simon Tissot Dupont began his career as a photographer for Napoleon III and Empress Eugénie, whom Dupont also counted among the first customers for the personalised travel trunks he began manufacturing for Paris’s elite, in 1872.
“It was quite different from what was being done at the time,” Crevet tells me. “Louis Vuitton was, of course, doing beautiful trunks, but empty. Dupont’s would come with unique accessories and compartments – and that became the signature of the brand. It became a symbol of luxury to have this attaché in your house or with you on your travels. And the clients who came were also very specific about the space separators they wanted, for cosmetics and so on,” he adds. “Often, they would ask for bespoke accessories, which Dupont was then able to invent in his boutique factory.” The brand’s famed lighters and writing instruments were both conceptualised on the back of special requests.
Crevet’s recent visit to the S T Dupont boutique in The Dubai Mall coincided with the launch of a host of new collections, some of which were firsts for the 144-year-old maison.
In addition to making good on its leather expertise – with a first-time range of belts, briefcases, duffel bags, laptop cases, wallets and credit card holders – Dupont has also created a series of prayer beads, in sterling silver and precious stones such as malachite, amethyst, amber and tiger’s eye, especially for this region.
Crevet explains that the brand has always been the go-to for customised requests and gifts. In the 1940s, for instance, the Maharaja of Patiala ordered 100 clutch bags for the women in his harem, with separate compartments for their cosmetics, and each holding a gold lighter. "It was this request that gave Dupont the idea to do their first-ever luxury lighters in solid gold," he confirms. "Then Jackie Kennedy, who loved Dupont lighters, wanted a matching pen. So the artisans designed our first ball-point pen, based on the drive wheel of her personalised lighter.
“The misbaha, too, were designed keeping in mind that they will make beautiful gifts. We have also had many requests for the falcon and horse designs, and so we decided to make them available to more people, by embossing the patterns on our lighters. With their Arabian influence, these collections will be made available first and foremost in the UAE,” he adds.
The same goes for Dupont’s Picasso collection, which dropped in Dubai before it became available anywhere else in the world. “This is because the residents here have a taste for S T Dupont products and, besides that, the region also enjoys such a multitude of visitors – from Russia, China, all over,” says Crevet, frankly.
It was his candour and commercial-mindedness that led him to shut down the brand's ready-to-wear stores in his first year as its CEO. "I'm a big believer in the DNA of the brand, which is basically about a guy running a small, boutique workshop, making bespoke accessories, each crafted individually by hand. Our expertise lies in leathers, lighters and pens – and with these we can be as inventive as possible. But Dunhill and Zegna will always do a better job than us in clothing, so there was no future there."
Accordingly, the leather goods adhere to an S T Dupont-formulated diamond tanning technique, which renders the material more supple and durable. The belts are made of calfskin leather, and come in colours such as midnight blue, tobacco, rubis, emerald and a "new black", Toit de Paris, as do the other smaller leather goods in the Atelier collection. The three styles of men's bags – an overnight case, and a duffel and messenger bag – are offered in neutral beige or warm grey, set off by a tricolour strap and dark cognac or blue leatherwork and handles.
The pens and lighters in the Picasso range, meanwhile, are embossed with the artist's prominent Profil de Femme line drawing. "It is said that Picasso was always smoking when he was painting, and he had a whole collection of Dupont lighters, which he would love to engrave for his visitors and friends, and gift to them. Those original lighters, unfortunately, don't belong to us, but the family gave us permission to reproduce his original sketch of a woman's profile on the Picasso collection lighters, cigarette cases and writing kit, along with his signature."
The brand-new Complication lighter is another example of the artisanal industriousness that Crevet keeps coming back to. Based on the technology behind complication watches, the lighter features a skeletonised body, visible micromechanics and 200 parts, which took four years to develop, with each piece taking 21 weeks to complete. "Our factory is but 20 minutes from the Swiss border, and so many of our friends and colleagues were familiar with the workings of a complication watch. We were already using up to 50 spare parts in our lighters, so the next challenge was to create one with 200. While a complication watch may not be expensive, a complication lighter is very costly [Dh180,000 a pop, to be precise], so I wasn't sure if people would be interested. But the first series of 10 sold at the snap of a finger in just two to three months," says Crevet. "And when the mechanism of a dual soft and torch flame was ready, we were so pleased with the results that we created this baby," he adds, whipping out the Le Grand Ligne 2 lighter. The largest in the S T Dupont stable, the lighter has double the flame and twice the heat than the original Le Grand, which also makes it ideal for lighting cigars.
The bodywork of both these lighters, as well as the pen and lighter in the Picasso collection, is composed of natural lacquer, an eco-friendly material that the brand sourced for the first time in 2014. For this, master lacquerers were called upon to revive an age-old technique called popoté, which enables them to transform the teardrops of the so-called Chinese lacquer tree into a glistening, deep-hued natural sap.
Crevet reveals: "Being eco-friendly is something the S T Dupont brand has always upheld, and it's been very important for me personally, too. The family belongs to the village of Faverges, at the foothills of the Alps, which is also where the factory is located, so they were of the belief that while we must create beautiful things, we must not harm the mountains and lakes around.
“This is reflected in the way we recycle, we have always sourced only equitable gold, now use only natural lacquer and recently we have put up solar panels in the factory,” he says, adding somewhat conspiratorially: “I am even pushing the team to think of alternative sources for leather, which is a huge departure for a company known, above all, for its leather goods.”
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Read more:
Luxury investment: your guide to buying a precious pen
How Andrea Incontri's background in architecture informs his work at Tod's
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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.”
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
UAE and Russia in numbers
UAE-Russia ties stretch back 48 years
Trade between the UAE and Russia reached Dh12.5 bn in 2018
More than 3,000 Russian companies are registered in the UAE
Around 40,000 Russians live in the UAE
The number of Russian tourists travelling to the UAE will increase to 12 percent to reach 1.6 million in 2023
Eyasses squad
Charlie Preston (captain) – goal shooter/ goalkeeper (Dubai College)
Arushi Holt (vice-captain) – wing defence / centre (Jumeriah English Speaking School)
Olivia Petricola (vice-captain) – centre / wing attack (Dubai English Speaking College)
Isabel Affley – goalkeeper / goal defence (Dubai English Speaking College)
Jemma Eley – goal attack / wing attack (Dubai College)
Alana Farrell-Morton – centre / wing / defence / wing attack (Nord Anglia International School)
Molly Fuller – goal attack / wing attack (Dubai College)
Caitlin Gowdy – goal defence / wing defence (Dubai English Speaking College)
Noorulain Hussain – goal defence / wing defence (Dubai College)
Zahra Hussain-Gillani – goal defence / goalkeeper (British School Al Khubairat)
Claire Janssen – goal shooter / goal attack (Jumeriah English Speaking School)
Eliza Petricola – wing attack / centre (Dubai English Speaking College)
Sholto Byrnes on Myanmar politics
The bio
Who inspires you?
I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist
How do you relax?
Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.
What is favourite book?
The Perks of Being a Wallflower - I think I've read it more than 7 times
What is your favourite Arabic film?
Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki
What is favourite English film?
Mamma Mia
Best piece of advice to someone looking for a career at Google?
If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.
APPLE IPAD MINI (A17 PRO)
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In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
Pakistan T20 series squad
Sarfraz Ahmed (captain), Fakhar Zaman, Ahmed Shahzad, Babar Azam, Shoaib Malik, Mohammed Hafeez, Imad Wasim, Shadab Khan, Mohammed Nawaz, Faheem Ashraf, Hasan Ali, Amir Yamin, Mohammed Amir (subject to fitness clearance), Rumman Raees, Usman Shinwari, Umar Amin
Traits of Chinese zodiac animals
Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent
ACL Elite (West) - fixtures
Monday, Sept 30
Al Sadd v Esteghlal (8pm)
Persepolis v Pakhtakor (8pm)
Al Wasl v Al Ahli (8pm)
Al Nassr v Al Rayyan (10pm)
Tuesday, Oct 1
Al Hilal v Al Shorta (10pm)
Al Gharafa v Al Ain (10pm)
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Teaching in coronavirus times
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
More on animal trafficking
Scores
Scotland 54-17 Fiji
England 15-16 New Zealand
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
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UAE rugby season
FIXTURES
West Asia Premiership
Dubai Hurricanes v Dubai Knights Eagles
Dubai Tigers v Bahrain
Jebel Ali Dragons v Abu Dhabi Harlequins
UAE Division 1
Dubai Sharks v Dubai Hurricanes II
Al Ain Amblers v Dubai Knights Eagles II
Dubai Tigers II v Abu Dhabi Saracens
Jebel Ali Dragons II v Abu Dhabi Harlequins II
Sharjah Wanderers v Dubai Exiles II
LAST SEASON
West Asia Premiership
Winners – Bahrain
Runners-up – Dubai Exiles
UAE Premiership
Winners – Abu Dhabi Harlequins
Runners-up – Jebel Ali Dragons
Dubai Rugby Sevens
Winners – Dubai Hurricanes
Runners-up – Abu Dhabi Harlequins
UAE Conference
Winners – Dubai Tigers
Runners-up – Al Ain Amblers
UAE Premiership
Results
Dubai Exiles 24-28 Jebel Ali Dragons
Abu Dhabi Harlequins 43-27 Dubai Hurricanes
Final
Abu Dhabi Harlequins v Jebel Ali Dragons, Friday, March 29, 5pm at The Sevens, Dubai
How to become a Boglehead
Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.
• Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.
• Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.
• Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.
• Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.
• Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.
• Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.
• Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.
• Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.
Things Heard & Seen
Directed by: Shari Springer Berman, Robert Pulcini
Starring: Amanda Seyfried, James Norton
2/5
Russia's Muslim Heartlands
Dominic Rubin, Oxford