Reflection Choker: This sapphire and diamond necklace has a central, branch-like motif, which Cindy Chao has used in homage to her family legacy. All photos courtesy Cindy Chao
The Green Plumule Brooch: This piece comprises 487 fancy-cut emeralds, totalling 172.58 carats.
Green Plumule Earrings: The matching earrings feature two large Colombian emeralds, as well as two briolette-cut brown diamonds.
Reflection Bangle: This cuff is made up of 1,881 gemstones in total, weighing in at 321.79 carats.
Ebony Diamond Earrings: These two cushion-cut diamonds are finished with polished ebony.
Cameron Falls Earrings: These pearl and diamond earrings are inspired by the Cameron Falls in Canada's Waterton Lakes National Park.
The best advice Cindy Chao has to offer aspiring jewellery designers hoping to follow in her footsteps is to not become jewellery designers.
"Don't do it," she says wryly, her face deadpan, from a small room tucked away behind her stand at March's European Fine Art Fair.
"Not because I’m afraid of competition or want to stop talent, but it’s a really heavy investment. It’s not all glory, you know."
As true as her words may be, in the 15 years since starting her namesake label, Chao, 45, has been doused in acclaim. The Taiwanese jeweller, who founded Cindy Chao The Art Jewel in 2004, has seen her pieces adorn more than just the necks of some of Hollywood's elite, such as Sarah Jessica Parker. The designer has had her work inducted into some of the world's most prestigious galleries and museums, including the Musee des Arts Decoratifs in Paris's Palais du Louvre and the Smithsonian National Museum of Natural History in Washington DC.
Indeed, such recognition epitomises the nature of Chao's designs, which delicately straddle a tightrope between jewellery and artwork, a freedom she has without the "burden" of working for a centuries-old maison.
"A good designer can just design something that you can sell to market. A good artist is very adventurous, very advanced," she muses from Tefaf, where 2020 marked the second year she was invited to showcase among only six jewellery brands at the Maastricht fair.
"So you tell me," she commandingly requests as she sips a coffee, crossing her black-suited legs, after being asked if she identifies more as an artist or designer.
After seeing the pieces that make up her Tefaf display, lit from just-so angles so that the brilliant gemstones seem to coyly wink upon catching your gaze, it is an easier question to answer.
The Green Plumule Brooch and Earrings, for example, taken from Chao's Black Label Masterpiece collection, are clearly works of art that just so happen to be crafted in emeralds rather than oils or paints. The brooch alone comprises 172.58 carats of emeralds, which dance across a titanium base like a feather blowing in the breeze. It's Chao's favourite piece from the five new creations she showcased at Tefaf – she even made a picture of it the screensaver on her phone, she reveals with a smile. The earrings, meanwhile, are centred around a two pear-shaped Colombian emeralds totalling 90 carats, a double act that Chao acquired a decade ago and has been waiting to use.
"It’s more courageous than ever," Chao says of her most recent work. "My craftsman was making fun of me when I threw the Colombian emeralds on the feather – he looked at me like you have no mercy at all, hey, and I was like, 'no'."
That headstrong approach might just be why the formidable Chao has her work displayed at Tefaf, alongside the stands of generations-old jewellers such as Van Cleef & Arpels.
She is a woman who hears the word no, and just carries on.
"At the time we were building it, I fought with my French guy so bad," she says of her Winter Leaves Necklace, a piece embedded with 6,000 diamonds to look like a wisp of foliage bedecked in frost. The necklaces, three years in the making, was named Best Jewellery Piece at 2019's Masterpiece London Highlight.
"First, I never compromise, and second, I really tried to push them to the limit," she recalls of working with her French manufacturing team, who have been with her since the beginning. "The detail isn't right? Then start again. It was so hard, in terms of craftsmanship and engineering, I really pushed them. It’s hard to visualise something that hasn’t existed before.
Cindy Chao has had two of her gem-studded pieces inducted into museums around the world. Courtesy Cindy Chao
"My craftsman was like, 'Cindy Chao, I’ve had enough, don’t call me for two months'. One week later, he called me, like, 'what we should do next?'"
Her pieces, which are valued within the millions, do not litter the jewellery boxes of the many, but Chao is quick to point out this is not a commercial decision.
"Some people say Cindy Chao only serves the billionaires and it’s not because we’re snobbish, we just don’t make mass production," she says. "I’m not saying I’m the best, we’re just different. Actually, I really try to cut down on production, to make it even more exclusive in terms of every detail. I think nowadays, a lot of brands really lack the quality."
It is that perseverance and focus on calibre that Chao credits with helping her label, still emerging by jewellery standards, become a pioneer of the industry. The designer, who is from a family of architects and sculptors rather than fellow jewellers launched the brand with her own money. Just three years after opening her Taipei showroom, she became the first Taiwanese jeweller to be included in Christie’s New York fine jewellery auction. Another three years, and the Smithsonian came calling.
Some people say Cindy Chao only serves the billionaires and it's not because we're snobbish, we just don't make mass production
"A lot of people say look Cindy, it’s only 15 years, you’ve achieved so much – but every single day was like everybody else’s 72 hours. I really pushed myself hard and pushed my team," she says. "I’m not saying that just because you work hard you will get results but I think we are very fortunate and we really did just that."
A moment of realisation came when her 2008 ruby butterfly brooch was inducted into the Musée des Arts Décoratifs in January 2020 as a permanent exhibition.
"When the chairman of Christie’s turns to you and says, 'gosh, you must be so proud of yourself' and I look at this room and it’s all big maisons, big names with more than 100 years ..." she pauses and sighs. "You are the only female, Asian jeweller and your name is next to them."
Those words – female, Asian – have come to somewhat define Chao over the years, with the jeweller often touted as the first jewellery designer in that bracket to break industry records. But does is such achievement weighted down with the pressure of expectation?
"I do feel a responsibility," she admits," but no pressure, because I never set the goal of wanting to be in the spotlight. If you really look at my past 15 years, I always push the brand, not me.
"But now I am opening up a lot more and letting people get to know me. I want to be an influence for the younger generation, to show them, 'oh, an Asian can achieve this much in the western luxury industry'."
But despite the continued recognition of her peers, Chao is determined not to rest on her laurels.
"I’m always trying to outdo myself," she says, arching a brow as she admits she's found a new confidence within as her brand approached its milestone 15th anniversary.
"I can’t say it’s a midlife crisis, but there's something different inside me. I’m going through a transformation stage in terms of creativity and as a person, too. You’re much more mature, you know what you’re capable of and what you’re not capable of. That’s why I say I so much enjoy my age now. When I’m facing something now, I really embrace it."
While Chao might be embracing a renaissance of sorts, revealing that the next 15 years will be all about growing the brand – starting with a soon-to-open showroom in London – she does have one eye on the door.
I say to my team, use me as much as you can for the next 10 or 15 years. No one stays forever, and I won't
"The pinnacle period is coming. I’m in such a good position – age, maturity, resource – I say to my team, use me as much as you can for the next 10 or 15 years," she smiles. "No one stays forever, and I won’t."
Chao might be thinking of an eventual exit plan but underneath her steely demeanour, she positively hums with energy, like an electrified barricade. It is hard to believe she will be able to switch that off and ease into a quiet retirement.
"No, the creativity never goes away," she acknowledges. "Actually, I think persistence is the best advice I would give to the younger generation. When people ask me what is the key to building a successful brand, I always say that when everybody else gives up, you stay.
"Nowadays, the younger generation are of this attitude, they easily get frustrated with the challenges they are facing. If you give up, you just don’t have a chance. The one who stays until the last wins."
And Chao, it is safe to say, is no defeatist.
If you go
Flights
Emirates flies from Dubai to Phnom Penh with a stop in Yangon from Dh3,075, and Etihad flies from Abu Dhabi to Phnom Penh with its partner Bangkok Airlines from Dh2,763. These trips take about nine hours each and both include taxes. From there, a road transfer takes at least four hours; airlines including KC Airlines (www.kcairlines.com) offer quick connecting flights from Phnom Penh to Sihanoukville from about $100 (Dh367) return including taxes. Air Asia, Malindo Air and Malaysian Airlines fly direct from Kuala Lumpur to Sihanoukville from $54 each way. Next year, direct flights are due to launch between Bangkok and Sihanoukville, which will cut the journey time by a third.
This month, Dubai Medical College launched the Middle East’s first master's programme in addiction science.
Together with the Erada Centre for Treatment and Rehabilitation, the college offers a two-year master’s course as well as a one-year diploma in the same subject.
The move was announced earlier this year and is part of a new drive to combat drug abuse and increase the region’s capacity for treating drug addiction.
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 details
Heard It in a Past Life
Maggie Rogers
(Capital Records)
3/5
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
Founded 50 years ago as a nuclear research institute, scientists at the centre believed nuclear would be the “solution for everything”.
Although they still do, they discovered in 1955 that the Netherlands had a lot of natural gas. “We still had the idea that, by 2000, it would all be nuclear,” said Harm Jeeninga, director of business and programme development at the centre.
"In the 1990s, we found out about global warming so we focused on energy savings and tackling the greenhouse gas effect.”
The energy centre’s research focuses on biomass, energy efficiency, the environment, wind and solar, as well as energy engineering and socio-economic research.
Future markets: Saudi Arabia, potentially Kuwait and other GCC countries
SPECS
Nissan 370z Nismo
Engine: 3.7-litre V6
Transmission: seven-speed automatic
Power: 363hp
Torque: 560Nm
Price: Dh184,500
How to turn your property into a holiday home
Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
Research equivalent Airbnb homes in your location to ensure competitiveness.
Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.
Sunrisers Hyderabad v Kolkata Knight Riders, Friday, 5.30pm
Who are the Sacklers?
The Sackler family is a transatlantic dynasty that owns Purdue Pharma, which manufactures and markets OxyContin, one of the drugs at the centre of America's opioids crisis. The family is well known for their generous philanthropy towards the world's top cultural institutions, including Guggenheim Museum, the National Portrait Gallery, Tate in Britain, Yale University and the Serpentine Gallery, to name a few. Two branches of the family control Purdue Pharma.
Isaac Sackler and Sophie Greenberg were Jewish immigrants who arrived in New York before the First World War. They had three sons. The first, Arthur, died before OxyContin was invented. The second, Mortimer, who died aged 93 in 2010, was a former chief executive of Purdue Pharma. The third, Raymond, died aged 97 in 2017 and was also a former chief executive of Purdue Pharma.
It was Arthur, a psychiatrist and pharmaceutical marketeer, who started the family business dynasty. He and his brothers bought a small company called Purdue Frederick; among their first products were laxatives and prescription earwax remover.
Arthur's branch of the family has not been involved in Purdue for many years and his daughter, Elizabeth, has spoken out against it, saying the company's role in America's drugs crisis is "morally abhorrent".
The lawsuits that were brought by the attorneys general of New York and Massachussetts named eight Sacklers. This includes Kathe, Mortimer, Richard, Jonathan and Ilene Sackler Lefcourt, who are all the children of either Mortimer or Raymond. Then there's Theresa Sackler, who is Mortimer senior's widow; Beverly, Raymond's widow; and David Sackler, Raymond's grandson.
Members of the Sackler family are rarely seen in public.
MATCH INFO
What: Brazil v South Korea When: Tonight, 5.30pm Where: Mohamed bin Zayed Stadium, Abu Dhabi Tickets:www.ticketmaster.ae
The specs
Engine: 4.0-litre V8
Power: 503hp at 6,000rpm
Torque: 685Nm at 2,000rpm
Transmission: 8-speed auto
Price: from Dh850,000
On sale: now
What is a Ponzi scheme?
A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.
