For years, luxury’s biggest jewellers have dismissed lab-grown diamonds as inauthentic; with labels of lab-grown diamonds being “tacky”, “unnatural” or holding no real value, its distaste grew among consumers and jewellers. So when luxury’s biggest conglomerate, LVMH, acquired a major stake in an Israeli lab-grown diamond start-up, it caught the attention of the entire jewellery industry.
With an investment of around US$90 million, it marked a significant change in the billion-dollar market. The past year has seen an unprecedented increase in consumer lab-grown diamond interest. Diamond industry analyst, Edahn Golan showed a 63 per cent increase compared to last year for the number of engagement rings sold featuring a lab-grown diamond.
Rapidly gaining traction as an ethical, wallet-friendly alternative to mined diamonds, the world has seen a wave of consumers who prefer wearing the relatively affordable, more sustainable “lab diamonds” over the ones that the Earth carefully nurtured and cradled in its deepest layers.
Part of its appeal is its almost indistinguishable features to its organic counterpart. According to Patsy Loo, the business director of Goldheart Jewellery, “Lab-grown diamonds are crafted with an innovative technology that replicates the natural process of diamond formation, allowing both types of diamonds to have an identical chemical, physical and optical structure.” Even a gemologist would not be able to tell the diamonds apart at first look, they would only be able to do so with special instruments detecting differences in the elements the stone is made up of. The only distinct difference between lab-grown diamonds and mined diamonds is the transparency in their production chain and environmental impact.
Other than the shift in consumer priorities, it is observed that brands and celebrities are making the switch from organic diamonds to lab-grown diamonds. De Beers, the world’s leading diamond mining and retail company, announced the launch of Lightbox Jewellery, a subsidiary that will market a new brand of lab-grown diamond jewellery at JCK Las Vegas, the jewellery industry’s most important trade show.
In early March, we saw luxury watch brand, Tag Heuer, release a collection of watches made with lab-grown diamonds. Called “Diamant d’Avant-Garde’, the brand explores the versatility of carbon in the form of lab-grown diamonds — creating stunning timepieces and experimenting with the material. Following suit is Cartier and Bvlgari, who have taken steps to incorporate lab-grown diamonds into their products.
“Lab-grown diamonds are bringing a very fluid new dimension to the diamond industry,” says Jean Dousset, great-great grandson of iconic jeweller, Louis Cartier. “It’s a paradigm shift unlike anything we’ve ever seen in the history of the jewellery industry. Future diamond buyers and current observers will now be able to have the size diamond dreams are made of, at a price they can afford, without any sacrifice on the quality of the stones.”
With that said, it begs the question: is there any reason not to buy a lab-grown diamond?
Will Lab-Grown Diamonds Affect The Demand For Organic Diamonds?
Image: Bvlgari
The natural diamond industry is as old as time, so as a society, we are well versed in what buying a diamond means. It has a finite source and therefore makes a safe bet for an investment — something we can’t say about lab-grown diamonds. This goes hand in hand with the fact that historically, the natural diamond industry has supported millions of livelihoods around the world, as well as the economic infrastructure of whole countries. Beyond mining, the following steps of processing diamonds — including sorting, cutting, polishing, manufacturing and retailing — is responsible for about millions of jobs.
While chemically identical to natural diamonds, lab-grown diamonds do not enjoy the same value retention as their earth-grown counterparts, which takes millions of years to form. Lab-grown diamonds go through the same processes that create natural diamonds but are produced in a matter of weeks. So the forces of supply and demand at play are completely different.
Additionally, lab-grown diamonds are nothing new. In fact, it has been on the market for decades, but interest in ethical diamonds is not propelling the lab-grown trend, a bigger reason is simply the dwindling supply and rarity of diamonds in the world, and that might be why naturally mined diamonds will likely maintain its dominance in the market. You may gravitate towards a natural diamond because you feel they hold significance as one of earth’s miraculous creations; filled with history and the nuance of status and love, it’s luxury’s most culturally evocative touchpoint.
Despite the growing trend of jewellery houses adopting and incorporating lab-grown diamonds into their products and collections, it does not mean the elimination of organic diamonds. “It’s not about replacing traditional diamonds with lab-grown diamonds,” Frédéric Arnault, head of Tag Heuer said. “We use what’s different and inherent to this technology, allowing us new shapes and textures.”
At the end of the day, it all boils down to personal preference. Purchasing an organic diamond for its historical, metaphysical or investment value is justifiable, but the practical considerations count too. With lab-grown diamonds being an affordable and ethical alternative, it makes for a fair consideration.
Quoting jewellery entrepreneur, Jean Dousset: “Natural or lab-grown is to each their own. Everyone should be able to get along. It is the same mystic and beauty, with a different origin.”
Though not obvious, fine dining and luxury fashion are parallel industries with a lot in common. They share everything from seasonality and trendiness, to reinvention and exclusivity. It only makes sense for the two industries to collide; revolutionising what it means to shop and eat.
Luxury fashion has always been far more than just about clothes. Nowadays, brands are looking to extend their influence and channel their creativity into other things in order to adapt to the ever-changing nature of business and fashion. So, what defines a luxury fashion house in 2022? Some might point to the kind of devoted following that deems the appointment of any new creative lead as controversial. For example, a shift into the lifestyle sector complete with a homeware line, or perhaps, a destination restaurant.
Image: Louis Vuitton
Not a week goes by without at least one fashion brand announcing the opening of a café or restaurant bearing its logo. As life returns to normal after two years of pandemic — with consumers eager to go out — the restaurant industry is emerging as a new segment for the luxury industry to conquer. Leading luxury brands have always found a natural outlet in the culinary segment, but with the re-emergence of the experience economy and the rise of digital media, never before has this phenomenon experienced such a frenzy as in this period.
Fashion restaurants and cafés are not a foreign concept. Early March, Louis Vuitton opened its first restaurant, located in France and called “The Mory Sacko at Louis Vuitton“, and nearby at Dior’s 30 Montaigne store stands their iconic “Monsieur Dior” restaurant. Both are huge attractors to the brand and represent their aesthetic and style within both the interiors of the restaurant and the menu that it has to offer. The idea that fashion and food are unlikely partners is an outdated way of thinking.
However, what surely started as a quest to keep shoppers in store has become a new kind of showroom for creativity and craft.
There seems no need for limitations when it comes to the quality of dining and innovation in these fashion eateries. Luxury houses use these gastronomic ventures as part of their branding; utilising it as another platform to show off their exquisite presentation, artistic design, fine ingredients and attention to detail. Customers are promised all of the brand’s trademark standards and character, but in the form of a dining experience rather than a pair of shoes.
For example, the Gucci Garden within the historic Palazzo della Mercanzia is more than just Gucci’s flagship store but a near-religious experience for those who love fashion. Showrooms double as galleries offering an intimate, self-guided historical tour detailing Gucci’s past and present as well as an all-round sensory experience to eat, breathe and live Gucci.
Inside the space includes Gucci Osteria, a restaurant helmed by renowned Michelin-starred chef, Massimo Bottura. Designed by Gucci’s creative director, Alessandro Michele, tactile fabrics, rich embroidery and quirky prints coalesce with animals and florals surrounding the restaurant. With its signature glade print wallpaper, an air of vintage luxury runs through the restaurant. The space is meant to represent Gucci’s core aesthetic and values, but the interior design isn’t the only thing reflecting Gucci’s heritage. Massimo Bottura made sure to incorporate the design aesthetic and quirky nature of Gucci in his food, with brightly coloured risottos and meringues made to imitate a broken vase, this is cooking that is both whimsical and grounded; it’s where fashion meets food, and art meets cuisine.
Jacquemus’ Citron café in the Galeries Lafayette Champs Elysées follows suit, with its interior designed to be reminiscent of his childhood. The decor has the charm of a town square in the South of France, complete with ochre amphoras, lemon trees and furniture in light wood. On the menu, visitors will find highlights hand-picked from the local Parisian food scene, including pastries from the traditional patisserie Stohrer and confectionery from A La Mere de Famille. For luxury brands, restaurants are no longer just about good food and ambience, it’s about communicating an idea, aesthetic and representing the brand’s heritage and value through innovative dishes and interior design.
In addition to finding a new outlet of creativity for the brand, it is also a good way for them to diversify their revenues (something much needed after the pandemic), and broaden its audience while encouraging the customer to prolong their presence in their spaces to encourage them to consume more of their products. By creating a complete universe around the brand, they manage to build better customer loyalty and relations.
Not to mention the publicity generated on social media by photos of beautiful dishes presented naturally on clearly recognisable, branded, tableware. Experience is now the new mantra of luxury. Since the emergence and eventual popularity of online shopping and social media, the fashion industry has seen a shift in consumer trends and priorities. Consumer spending has shifted towards wellness, hospitality and dining, and the diversification allows brands to reinforce their image and positioning as lifestyle brands.
Capitalising on the new gastronomic love of consumers, particularly younger ones, luxury houses are creating new touch points through their gastronomic spaces, while offering their customers a new type of multi-sensory experience. This incursion of fashion into the kitchen also allows creative directors to display their innovation and appreciation for the heritage, aesthetic and values of their respective luxury house.
The best furniture brands are those that specialise in one key material or expertise. Here are five brands that showcase their artisanal craftsmanship and devote millions of dollars to research and development. When it comes to the best of the best, these furniture brands are the ones to note.
Arflex
Marenco sofa designed by Mario Marenco for Arflex in 1970. This is the 2022 version without armrests. Image: Arflex.
No furniture brand knows upholstery like Arflex. Since its founding in 1947, the brand has won numerous awards and accolades along the way for its experimentation with new technologies and materials for seating solutions. In creating, modern, timeless furniture objects, Arflex is renowned for its artisanal approach to upholstered sofas and armchairs.
9000 sofa system designed by Tito Agnoli for Arflex. Image: Arflex.
Its most iconic product is the Marenco sofa designed by Mario Marenco in 1970. It snagged the best reissues for sofa design by Wallpaper Design Award in 2007. In addition, the 9000 sofa system by Tito Agnoli clinched the Compasso d’Oro (Golden Compass) Award in 1986.
DC 90 is the Ceccotti Collezioni armchair designed by Vincenzo De Cotiis. Image: Ceccotti Collezioni.
For 66 years, Ceccotti Collezioni was one of the pioneer specialists in wood-processed furniture. But in 1986, the brand leapfrogged with the help of renowned Italian architect Paolo Portoghesi who contributed to the design of some of the most recognisable pieces produced by Ceccotti Collezioni. Through its artisans, the brand was able to create original designs with constructive complexity. Each Ceccotti piece is functional without aesthetic frivolity.
Ma Belle armchair computer generated 3d model. Designed by Roberto Lazzeroni. Image: Ceccotti Collezioni.
Working with many types of wood, their luxurious pieces could not materialise without high-quality craftsmanship. If you have a penchant for Italian wooden furniture, look no further than Cecotti Collezioni.
Donald tables designed by Philippe Starck for Glas Italia. Image: Glas Italia.
Founded in 1972, Glas Italia’s hometown in Brianza, Italy has had a long love affair with glass. Focused on creating some of the most astounding glass furniture, the brand produces unique, purposeful glass objects for the Milan furniture fair every year. Collaborating with many preeminent designers, the brand’s inexhaustible passion for glass is evidenced in unique treatments and techniques to create different types of coloured glass.
Quantum glass shelf designed by Piero Lissoni for Glas Italia. Image: Glas Italia.
Always coming up with innovative textures and hues for glass, they devote a huge amount of money to R&D. The brand creates some of the most striking glass furniture that seems almost ethereal. With special invisible glue to connect each glass piece together, you can hardly spot the joinery. If you have a penchant for glass furniture, then Glas Italia furniture pieces will get your tongues wagging.
Vanity Chair designed by Renzo Frau for Poltrona Frau. Image: Poltrona Frau.
For over 100 years, Poltrona Frau made a firm commitment to producing leather-based furniture. Its founder Renzo Frau took pride in creating the brand from scratch back in 1912. Based in Turin, Italy, Poltrona Frau tells its story through its leather products. Their expertise in leather puts them at the forefront of leather quality for furniture. Their artisans know how to treat and tan their leathers, allowing designers to create many mesmerising leather furniture pieces that have snagged awards worldwide.
1919 armchair designed by Renzo Frau for Poltrona Frau. Image: Poltrona Frau.
Some of their iconic works include the 1919 armchair designed by its founder Renzo Frau. Also, Frau’s Vanity Fair armchair is currently the brand’s design motto. Its classic form may be ubiquitous but the brand set the path for other brands to pursue the “Made In Italy” quality and mindset.
See Saw tables designed by Nendo for Marsotto Edizioni. Image: Marsotto Edizioni.
Marble is regarded as an ancient material. However, when a furniture brand such as Marsotto Edizioni embraces marble, it churns out some of the most remarkable objects for the home. Through the wisdom of its skilled craftsmen and the partnership with renowned designers, Marsotto Edizioni offers a beguiling collection of furniture pieces that convey luxury while being purposeful and stylish for any home.
Ballerina tables designed by Nendo for Marsotto Edizioni. Image: Marsotto Edizioni.
The brand was founded by James Irvine in 2009. Headquartered in Verona, the brand is situated in one of Italy’s most venerable stone-carving sites. Through their R&D and technical expertise and know-how, Marsotti Edizioni’s marble furniture pieces will make your eyes pop. If you’re scouting for an arresting marble piece for your home, your best bet is to look at Marsotto Edizioni’s portfolio.
To learn more about Marsotto Edizioni, click here.
Porsche owners love expressing their personalities with the colour of their cars, and the proof in the pudding is the rainbow-like palette the iconic German sports car brand puts on offer — even as standard colours.
But some colours stand out from the rest, and green in particular has the distinct honour of being Ferry Porsche’s personal favourite. Even today, Dr Wolfgang Porsche often specifies some of his cars in his father’s favourite rich, natural hue.
Image: Porsche
What’s vogue at the moment is green cars with earth-contrasted interiors. In fact, the movement is so strong that the hashtag #GreenOverTan has garnered a strong following across many social media platforms worldwide. Beyond the motoring world, the colour green has also become a favourite among watch manufactures who have debuted several timepieces in green like the new Patek Philippe Nautilus 5711A or the Grand Seiko SBGW264 — both have green dials.
Porsche Singapore brings that hashtag movement to the fore with its Porsche Exclusive Manufaktur show car — a 911 Carrera S. This striking car is finished in a seductive and sophisticated Aventurine Green Metallic, complemented by a two-tone Atacama Beige and Black Interior.
Image: Porsche
Porsche Exclusive Manufaktur is the brand’s exclusive personalisation service, with more than 700 aesthetic and technical customisation options across all model series — a proud blend of creative imagination, engineering precision and immaculate quality.
Highly-trained craftsmen from Porsche Exclusive Manufaktur devote their effort and time to fulfilling individual customer requests and specifications — slowly, painstakingly, and by hand.
From an embossed crest in a headrest, to an exterior colour finished in your favourite hue — with Porsche Exclusive Manufaktur, the sky is the limit when it comes to creating a Porsche with your own personal signature.
This 911 was created with bespoke enhancements that are a nod to the classic 911s. The staggered 20/21-inch Carrera Exclusive Design wheels call back to the nostalgic Fuchs-styled rims of the 1960s, while its exterior trims are re-finished in matte aluminium for a classic look.
Image: Porsche
In addition, the decorative racing stripes as well as Porsche’s side script decals in silver channel racing 911s of yore, adding to the sophistication and detail.
Inside the car, the Heritage Design Package option features multiple Porsche Exclusive Manufaktur elements that create an interior ambience that seduces you to come in and indulge.
Image: Porsche
Notable highlights include Porsche crests embossed on the seat headrests, posh OLEA club leather on all tactile panels, tanned using olive leaves which were selected for their luxurious ageing qualities. The centre seat console is finished in Corduroy, another material that offers elegance and refinement.
The instrument cluster on the 911 features the traditional tachometer front and centre, surrounded by two digital display screens, made extra special with white hands and scale markings contrasted with green numbers to evoke the original 356. The Sport Chrono stopwatch on the dashboard is paired up with the same classic colour scheme.
Image: Porsche
To add to the finishing touches of the classic 911 plaque on the passenger console, a Porsche Exclusive Manufaktur signature is placed on the centre console, marking out this 911 as one that is truly special.
Image: Porsche
The 911 Porsche Carrera S is an exemplary model of #GreenOverTan, and with the limitless customisation possibilities that customers can tap into with Porsche Exclusive Manufaktur, it’s undoubtedly a beguiling automobile marvel for the senses to behold.
To learn more about the exclusive 911 Porsche Carrera S, click here.
In 2018, leaning back against a well-cushioned leather sofa in a seaside bungalow in Sentosa Cove belonging to another cryptocurrency mogul, Su Zhu was basking in the aura of his power and influence as he nursed a 21-year-old whiskey at a “crypto insiders” party.
For Zhu, this was his moment of peak crypto.
Surrounded by hangers-on trying to pitch him their latest project, Zhu largely ignored the cacophony of voices that were droning around him as he sipped his drink.
Zhu and Kyle Davies, former high school classmates and founders of 3AC, a Singapore-based cryptocurrency hedge fund, had just secured an early investment in Terra Luna, giving them access to hundreds of millions of dollars’ worth of Luna tokens.
For 3AC, the investment in Terra Luna was made more special by the fact that some of the biggest names in crypto were also backing the algorithmic stablecoin project, including Galaxy Digital, whose CEO Mike Novogratz would soon go on to tattoo the Luna logo on his upper arm (a tattoo that would unfortunately not age well) and Pantera Capital.
Terra Luna also counted Lightspeed Venture Partners, Coinbase Ventures and Jump Crypto as backers, cementing 3AC’s status as a major player in the digital asset scene.
By the time that Zhu and Davies had backed Terra Luna, they were already one of the top cryptocurrency venture capitalists, backing such successful projects as Avax, Near Protocol, Aave, Deribit, Starkware and Axie Infinity, with their assets under management estimated to be as high as US$18 billion at one stage.
Even by late 2021, when Pantera Capital had sold most of its stake in Terra Luna, Zhu was busy buying, not Luna, but real estate.
As reported by Bloomberg, Zhu was shopping around for another Good Class Bungalow, Singapore’s most exclusive form of housing located in its toniest districts, to find an abode befitting his stature near the top of the crypto world.
When Zhu wasn’t busy buying high-end Singapore real estate or superyachts, he enjoyed using his considerable influence on social media, in particular Twitter, to shape sentiment and possibly profit from it.
With over 560,000 Twitter followers, Zhu was known for using psyops and playing mind games with his followers, creating a thread in November 2021 that flamed Ethereum, while taking advantage of the drop in prices to snap up some US$660 million worth of Ether.
Like the boy who cried wolf, Zhu’s frequent use of Twitter to talk up or spread fud (fear, uncertainty and doubt) about tokens made it difficult for followers to determine if he was gaming his audience for profit, or serious in his views, and often it appeared to be both.
Nevertheless, plenty of people held Zhu and 3AC in high regard, especially given that Zhu had correctly predicted the end of the “Crypto Winter” in 2018 and that Bitcoin would break its all-time-high in 2020.
However what Zhu and Davies had not factored in is that just as the U.S. Federal Reserve giveth, it also taketh.
Zhu, in his characteristic deadpan, declared at a podcast recording for cryptocurrency exchange FTX,
“When there’s a lot of despair, you can start buying. You don’t have to follow the despair.”
Yet the despair in financial markets in general and the cryptocurrency markets in particular was not unwarranted.
With the U.S. facing the greatest inflationary pressures in four decades, Fed policymakers started to unwind many of the pandemic-era measures which had contributed in no small part to the success of both the cryptocurrency markets and 3AC.
Even as cryptocurrency veterans like Pantera Capital were unloading their stake in Terra Luna, Zhu continued to talk up the merits of the algorithmic stablecoin, leading some to wonder if the 3AC cofounder was in fact looking to offload his holdings.
On December 26, 2021, Zhu bragged about the future growth prospects of Terra Luna in a tweet,
“We’re seeing some of the earliest and most ambitious ideas in crypto starting to unfold. Crosschain decentralized stablecoin backed entirely by digitally native assets was the holy grail in 2016. Bless $BTC $LUNA.”
and further that day,
“People down 50x more from selling early than from buying top this year, and it’s not even close, SOL, LUNA, AVAX, MATIC, DOGE, SHIB, FTM, list goes on. Tops are emotionally memorable because plebs snapshot themselves to a portfolio all-time-high, yet nobody buys top while everyone sells early.”
Despite roiling markets, Zhu walked with the cocky confidence of someone who had made it from humble beginnings to being hounded by global media and many believed that the bulk of 3AC’s funds were proprietary, making them bulletproof when in fact, they were not.
A venture investor in some of the best-known cryptocurrency startups, in many cases, 3AC also served as a manager of their corporate treasuries, which helped it to circumvent the regulatory restrictions of its Registered Fund Management Company (RFMC) license.
As early as 2013, 3AC held an RFMC, a type of fund management license administered and governed by the Monetary Authority of Singapore (MAS), but which came with specific restrictions that few investors were aware of.
An RFMC only allows up to 30 professional investors and a maximum of S$250 million in assets under management, limitations which 3AC got around creatively.
Instead of managing a fund which promised a return on investment, 3AC would borrow money from investors, and promise a projected coupon rate, structuring these investments as loans instead of what they were marketed as — investment products, and thereby declaring these funds as “proprietary capital,” which was misleading to say the least.
But by September 2021, concerned that these workarounds would eventually surface, 3AC novated the management of its only fund to an offshore entity in the British Virgin Islands, notifying MAS in February 2022 that it intended to cease fund management activity in Singapore from May.
By late 2021, Zhu also publicly declared that 3AC was relocating to Dubai, an uncontroversial move at the time, given that many other cryptocurrency companies were doing the same.
However, 3AC had not applied for any fund management license in Dubai nor notified regulators in the United Arab Emirates of its intention to do so.
Publicly, Zhu remained sanguine on the prospects of cryptocurrencies, arguing on Twitter that 2022 would mark the year of peak adoption, even as investors were fleeing risk assets in the face of rising interest rates and tighter monetary conditions.
Many believed that Zhu was engaging in his usual psyops, to get other investors to soak up the bags of cryptocurrencies that he was looking to offload.
In reality however, Zhu, having correctly predicted market turnarounds in the past, was convinced that this time was no different, borrowing heavily to bet big that cryptocurrencies would eventually rebound.
In May this year, 3AC attempted to plug the hole caused by the collapse of Terra Luna, soaking up some US$559.6 million worth of Locked Luna tokens, a stake which would be worth around US$600 by late June, and go on to become worthless.
Unfortunately, 3AC’s bid to shore up Terra Luna was ultimately futile, and the price of Luna kept falling, taking the rest of the cryptocurrency market with it, at a time when sentiment was already weak.
Even as things started looking bleak in January, Zhu was still showing off pictures of his latest trophy acquisition, a 171-foot Sanlorenzo 52Steel superyacht, that was intended for delivery this month, to investors and friends, presumably to maintain an air of invincibility.
It would later turn out that 3AC was only able to pay the down payment on the US$50 million superyacht, and it’s been suspected that even that was paid for with borrowed money.
As Zhu and Davies were going hat in hand to investors to raise more money, 3AC was keeping secret its massive margin long position on Bitcoin, with a liquidation price of US$24,000, betting that the cryptocurrency would never fall that low.
Some have speculated that Zhu and Davies may have engaged in “revenge trading” where a trader borrows even more money to trade (gamble) their way out more quickly of a hole they’ve dug themselves in by using leverage.
Unfortunately, by mid-June, 3AC had started missing margin calls from the companies funding its trades, including many major crypto lenders, who are now known to have offered the hedge fund undercollateralized loans.
Given how volatile cryptocurrencies are, most lenders are only willing to lend a fraction of the value of digital assets pledged as security for a loan, yet somehow Voyager Digital, a crypto broker and lender, lent around US$700 million to 3AC, undercollateralized.
Voyager Digital was hardly alone in extending undercollateralized loans to 3AC, with fellow cryptocurrency broker and lender Genesis alleged to be facing losses of as high as 9-figures.
It has now surfaced that BlockFi and BitMEX have exposure to 3AC as well and the list of affected counterparties reads like a who’s who of the crypto world, including Cumberland DRW, Galaxy Digital and crypto options exchange Deribit.
Even before the walls started closing in on 3AC, in a desperate bid for liquidity, Zhu and Davies were said to have solicited Bitcoin from large holders known as “whales” as well as other trading firms and are thought to have lied about their assets under management in a bid to secure fresh loans.
Undeterred by the rapidly deteriorating market conditions, Zhu and Davies are said to have promised yields of as high as 20 per cent to potential Bitcoin lenders despite liquidity and speculation, the main driver of lending yields, rapidly drying up, but most potential lenders detected something amiss and declined doing business with the pair.
And although Zhu tweeted that 3AC was working with relevant counterparties and remained “fully committed to working this out,” in reality both he and Davies had been ghosting their creditors for some time.
When cryptocurrency prices started to falter in the wake of the Terra Luna collapse in May, lenders approached 3AC to ask for collateral, but struggled to contact the pair, forcing these lenders to liquidate the fund’s positions and causing Bitcoin to fall even further from US$24,000 to US$20,000.
Those liquidations sparked off a spiral of cascading defaults and triggered a run on several major crypto lenders, some of which have already gone into bankruptcy.
Throughout the debacle, creditors claim that Zhu and Davies were nowhere to be found, although some suspect that they may have decamped to Dubai.
According to one source, Zhu was urgently trying to sell a US$35 million house in Singapore, which was being held in trust for his daughter, and with the proceeds of the sale to be transferred to a bank account in Dubai.
A search of registry records suggests that Zhu, Davies, and parties connected to the duo (as opposed to 3AC) own a fleet of high-end cars, and at least five high-end properties in Singapore, including the US$35 million Good Class Bungalow and another US$28.5 million property of the same type held by Zhu’s wife, Tao Yaoqiong.
For starters, the 3AC that is being liquidated was incorporated in the British Virgin Islands and the process of liquidators in that jurisdiction attempting to enforce any judgments in Singapore will be complicated and drawn out.
To make matters worse, Zhu is only known to have held in his own name a US$4.5 million strata bungalow at Goodwood Grand, located in the ritzy Balmoral Road neighbourhood.
3AC’s liquidators will likely have their work cut out for them if they want to go after the assets of the fund’s founders because they would need to prove beyond a reasonable doubt that Zhu and Davies were guilty of criminal misconduct.
Although 8 Blocks Capital, a smaller market maker which claims it used 3AC’s trading accounts for fee discounts, and alleges that the hedge fund misappropriated as much as US$1 million of their funds without permission, possibly in an attempt to meet margin calls, no other counterparties have alleged any criminal behaviour.
Complicating the job of liquidators, 3AC filed a petition in the U.S. Bankruptcy Court for the Southern District of New York and seeking protection from creditors in the U.S. under Chapter 15 of the U.S. Bankruptcy Code, which allows foreign debtors to shield U.S. assets.
For now, nobody really knows where Davies and Zhu are, with the former having surfaced for a Wall Street Journal interview only to disappear soon thereafter, with the latter resurfacing only for the occasional tweet.
The Monetary Authority of Singapore has issued a reprimand of 3AC and is investigating, and Solitaire LLP, the Singapore lawyers retained by the fund, claim that the firm is keeping regulators apprised of developments, but such investigations typically take a considerable amount of time.
It’s unclear whether Zhu and Davies are guilty of any impropriety or financial misconduct towards the end of their reign as princes of the crypto world, but their very visible public absence and attempt to dispose of assets is disconcerting to say the least.
The Goodwood Grand bungalow where Zhu was last seen has been put up for sale and neighbors claim that no one has been witnessed entering or leaving the house in weeks.
Mail is piling up outside the Suntec City offices that 3AC operated out of, while staff say that they have been unpaid and unable to contact Zhu and Davies since early June.
Given the amount that both Davies and Zhu have contributed to the cryptocurrency space, their fall from grace and manner of exit from the industry is disappointing to say the least.
While Zhu was known to have been dismissive and arrogant to those he deemed not his intellectual equal, Davies and he were also approachable to founders and willing to write checks that would fund the further development of the cryptocurrency ecosystem.
Some of the most successful companies in the cryptocurrency business today were funded out of the coffers of 3AC, and in some cases, personally, by Zhu and Davies.
The cofounders of 3AC were also known to have taken time out to spend with founders, sharing with them their thoughts on technology, markets, and the general development of the industry and helping out through more than just money, but with connections and influence as well.
Ultimately 3AC’s legacy and contribution to the cryptocurrency industry will be forgotten under a deluge of allegations and litigation.
With just US$1.2 million in late 2012, 3AC started off trading emerging market currencies, before it’s been said that they were squeezed out of the already crowded trade and forced to switch to trading cryptocurrencies.
That fortuitous switch to cryptocurrencies by Zhu and Davies turned out to have been at an opportune time and which would help to propel the duo to fame and fortune, turning their million-dollar fund into billions and making them rich beyond the dreams of avarice in the process.
But like Bill Hwang’s Archegos Capital, one-directional leveraged bets on cryptocurrencies would ultimately also spell the demise of 3AC, one of the industry’s biggest success stories and also, one of its biggest cautionary tales.
By Patrick Tan, CEO & General Counsel of Novum Alpha
Novum Alpha is the quantitative digital asset trading arm of the Novum Group, a vertically integrated group of blockchain development and digital asset companies. For more information about Novum Alpha and its products, please go to https://novumalpha.com/ or email: [email protected]
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The sun shone down in Saint-Tropez as Miu Miu takes over for the launch of the Miu Miu Tennis Club on the 16 July. Located in a retro-styled tennis court, the exclusive, one-day only event saw guests sporting Miu Miu sets from its Fall Winter 2022 collection. Moving away from the workwear-inspired collection of previous seasons, Miu Miu comes back with a ubiquitous silhouette and re-invented it for its latest runway. The serve this season (no pun intended) was the sporty interpretation of the iconic Miu Miu micro-minis; with a narrower waistband and pleated cotton with athletic blue and red, the skirt was paired with polos and accessorised with retro, white sunnies. Models channelled their inner tennis pro as they posed and showed off on the court.
Fashion bloggers Chiara Ferragni, Veronica Ferraro and Tina Leung, fashion editor Julia Hobbs and model Camille Rowe were seen in attendance as Miu Miu offered guests a full range of leisure activities. As long-time friends of the fashion house, the celebrity guests were dressed in Miu Miu; carrying bags made from the brand’s signature matelassé leather. Synonymous with the label’s independent spirit and fine craftsmanship, the matelassé has graced countless Miu Miu accessories from shoulder bags to pouch tricks to smartphone holders. Now, for the Tennis Club launch, it can be seen adorned by the It girls of Miu Miu. The bags were paired with midi dresses with a slip-style silhouette and summer, minimalist pumps. Their outfits exude a combination of carefreeness and elegance.
The Greubel Forsey Tourbillon 24 Secondes Architecture is a lot of watch, and it is also more complex than the garden variety tourbillon wristwatch. This is a timepiece that challenges the mind and the eye; one that has both literal and figurative depth. The Greubel Forsey Tourbillon 24 Secondes Architecture, which is mouthful so we will just go with Tourbillon Architecture, is a kinetic sculpture that happens to tell the time. The brand calls it a city on the wrist, and it is not hard to see why. It also defies attempts at easy explanations, which is how Greubel Forsey CEO Antonio Calce put it to us when we had lunch with him in Singapore.
Nevertheless, here is the skinny on the watch. It is a 47.05mm titanium piece that is 16.80mm thick, but thanks to its shape and structure, it wears a little less profoundly than those specs suggest. It is water-resistant to 50m. More on the dimensions in a bit, but first we have to address the key points about the engine, which does not have a specific name. It features an inclined tourbillon that completes one rotation in 24 seconds (hence the name of the watch). It manages the neat feat of staying powered for 90 hours despite having to power this mechanism. Dial-side, the Tourbillon Architecture displays hours and minutes, with a subdial for small seconds, an indicator for the rotation of the tourbillon, and the power reserve.
The prosaic description above does nothing for the watch, which you might deduce from the pictures. A watch like this one transcends the elevator pitch for complications, offering a fiercely independent and visceral sense of time. This is apparent at just a glance. What you cannot tell is the effect of the Tourbillon Architecture in person. In watch collecting circles, this is what is known as a conversation starter. In fact, if you wear this watch you should actually try to know something about how the mechanism works. Typically a piece like this will appeal to those who love horology anyway so this will not be a chore. There is a lot to know and love about this watch, including the reasons behind the 25 degree incline of the tourbillon, and its specific rotation speed.
To get into the nuts and bolts of this watch, it is not so much key technical details such as the amplitude that matter here but the form that timekeeping takes. This is about three-dimensional architecture, not engineering. For example, the tourbillon at 6 o’clock has a very impressively curved bridge that appears to be connected only to itself. The effect is quite beguiling, while the sheer mass and shape of the bridge is fascinating. You actually admire this from multiple angles because Greubel Forsey has introduced a full sapphire case middle, rather than just a window of two. This also helps to focus one’s attention on finishing details because there is a lot of visibility here.
Getting the mirror polish on the aforementioned tourbillon bridge was no small matter, especially when it has to catch the light from all different angles. As a matter of fact, all the titanium bridges share this characteristic; yes, this is titanium with a high degree of polish. Another visual treat is the small seconds indicator, which is basically a polished cylinder; polishing surfaces with this kind of curvature requires not only a great deal of work, but thinking outside the box as well because traditional methods were never meant for this.
Tourbillon 24 Secondes Architecture
We will close here by returning to the case, which as noted has a 47.05mm base and a sapphire case middle. The bezel is just 45.50mm, meaning this watch is convex, and that is just mad. This is a variable geometry bezel, which is a term you might be familiar with from the description of Richard Mille rotors, and that too is fascinating. Happily, explanations are not required to enjoy the spectacle here, which is what most of us will be limited to due to the production constraints for the Tourbillon Architecture. Just 11 pieces will be made this year, then 18 pieces annually until 2025, for a total of 65 pieces.
From the land of a thousand smiles, things are looking up in the residential real estate market in Thailand. In a recent Property Report in Feb 2022, experts have weighed in to say that the Thai home price market is slated for an increase in 2022. Thailand’s property sector undoubtedly suffered a decline during the first quarter of 2020, but new home costs are on the mend to go higher due to inflation, rising fuel costs, labour shortage and a spike in construction material prices.
“In 2022, we expect to see property prices go up by three to five per cent,” Apa Ataboonwongse, chief executive officer at Richy Place told The Nation Thailand. Labour costs have spiked because many migrant workers have returned to their countries, thereby, causing many delays where up to 20 per cent of projects are affected. Even with management costs have reduced over the past year, it would be hard for developers to maintain the same prices. These rising costs have caused a domino effect in the entire global supply chain. Compounded by shipping delays and supply shortages, the construction industry for residential projects across the globe is affected.
Four Season Residences, Bangkok. Image: Lazudi.com
Steel as a material has also witnessed an exponential spike in price as it has risen 30 per cent. Other material cost increases include concrete, aluminium, sand, and asphalt, to name a few. However, many Thai developers have been wooing buyers with their effective marketing campaigns. They dangled freebies such as air conditioners, water tanks, furniture, and drapes, to entice low-rise homeowners. With Thailand slowly opening up its borders to travellers again, the rise in tourism may help give the economy much needed boost.
In his aptly named poem “The Voyage”, Charles Baudelaire wrote that “For the child, in love with maps and prints, the universe has the measure of his vast appetite.” Indeed, worldtimers have the uncanny ability to inspire an insatiable wanderlust. Just look at them. Highly sophisticated and sought-after, their distinctive ring of cities are veritable calls to adventure — one in each of 24 time zones.
Who better to express this poetic desire for travel than La Montre Hermès, the watchmaker known for igniting the imagination with their whimsical take on classical complications. The Arceau Le Temps Voyageur brings to life the notion of “time travelling the world” with a subdial that circumnavigates the globe with you.
Simply by activating the pusher, the satellite displaying local hours and minutes glides from one time zone to the next, automatically adjusting to its destination. The 122-component “travelling time” module took three years to develop in partnership with Jean-François Mojon and his team at Chronode, adapting the ingenuity and illusion of the 2019 Arceau L’Heure de la Lune and its twin revolving subdials. To underscore the technical complexity involved in this seemingly straightforward complication, even the little red marker that points to the cities travels in tandem with and around the wandering subdial. All of these moving parts are seamlessly contained within the 4.4mm thick module, itself integrated within the Hermès H1837 automatic calibre.
The Arceau Le Temps Voyageur is actually a dual time zone watch, with 24-hour home time indicated via the aperture at noon. Nevertheless, the feature is not treated as an afterthought. Locations affected by daylight savings time have an extra position marked with “S” for summer, or the corresponding alphabet in their respective languages (“V” for verano in the Spanish-speaking territories, for example). There is even a playful nod with “24 FBG” in place of Paris; 24 Rue du Faubourg is the home of La Maison Hermès.
The otherworldly manner in which the subdial soars without any visible mechanism evokes daydreams of carefree roaming. And since dreams are being hatched, might as well do so over a fantasy map drawn from the imagination of artist Jérôme Colliard. His “Planisphère d’un monde équestré” (“Map of an equestrian world”) graphic was initially depicted on a giant globe at an Hermès show jumping competition in Paris, and subsequently printed on an Hermès silk scarf. Now, his mythical topographies are etched onto the dial of the Arceau Le Temps Voyageur, possessing such thematic names as “Dressage”, “Éthologie Équine” and “Les Aides du Cavalier”.
The references to Hermès’ horse-riding heritage continue in the Arceau watch case designed by Henri d’Origny in 1978 featuring asymmetric stirrup-shaped lugs, as well as the signature “galloping” numerals. The Arceau Le Temps Voyageur is presented in black with a 41mm platinum case and matte-black titanium bezel, and in blue with a 38mm steel case, both fitted with alligator or Swift calfskin straps made in Hermès Horloger’s own workshops using the Maison’s long-established saddle-making and leather craftsmanship expertise.
Movement: Automatic calibre H1837 with second time zone and city names; 40-hour power reserve Case: 41mm in platinum and titanium or 38mm in steel; water-resistant to 30m Strap: Alligator or Swift calfskin leather Price: NA
The Fall Winter 2022 season of shows has proven how internet-breaking collaborations continue to bring fashion to the forefront of popular culture, with Gucci x Adidas and MM6 Maison Margiela x Salomon flooding everyone’s social media feeds.
The key to any brand’s success is remaining relevant to the target consumer and resonating with them through culture and consumer needs. This has become more vital in today’s heavily saturated world of media and in a time when consumer demands are amidst a shift as a result of the global pandemic. It could be why we’ve been seeing a surge in collaborations within the fashion industry.
It unlocked the ability to deliver a collection that is typically out of a brand’s typical design, in a refreshing and different style. Below are some of the most iconic runway collaborations in this season’s Fall Winter 2022.
Valentino x Pantone Colour Institute
Image: Valentino
For Valentino’s Fall Winter 2022 collection, Pierpaolo Piccioli focuses on creating an 81-look collection nearly entirely in a single, shocking shade of hot pick, unveiled against a backdrop of the same hue. A shade, developed in collaboration with Pantone, so catchy and energetic that it deserves its own name, “Valentino Pink PP”. He wanted to draw attention to the diverse silhouettes and details of a wardrobe that would transcend everyday needs and occasions. With this partnership, Pantone confirms that it is increasingly focused on establishing its hegemony over colour schemes, developing exclusive colours for companies and celebrities as a brand identity. Thus, Valentino moved from its signature red to pink.
Bringing together the emblems of the Italian luxury house and iconic sportswear brand is the much anticipated Gucci x Adidas collection. The collection is a result of Alessandro Michele’s fascination with the old-school athleisure brand and the blend between the two powerhouses is shown clearly on the runway. With classic, athleisure silhouettes commonly associated with Adidas, as well as unconventional colour play and patterns quintessential to Gucci.
With an elevated utilitarian aesthetic, the collection takes form in boxy suiting with strong shoulders, seamless wool pea-coats with exaggerated peak lapels and sculptural outerwear. The moody silhouettes of the collection were enhanced by colourful sneakers in collaboration with Salomon, lug-sole running shoes and MM6s heel ankle boot. By blending tailored, contemporary, sportswear and avant-garde styles, the collection epitomises transitional design.
Dior x D-AIR LAB
Dior’s creative director, Maria Grazia Chiuri embraces the future of fashion through the collaboration with Italian-based brand, Dynamic Autonomy and Intelligent Robotics Lab (D-AIR Lab). The company is known for developing personal safety clothing that helps the wearer feel confident and protected in potential danger. For the runway, the garments struck a different level of confidence meant to give those who wear the pieces self-assurance. D-AIR Lab padding and materials are fused into corsetry and layered over artisanal dresses, which in a way is Dior’s pièce de résistance in sparking confidence in women.
Stella McCartney x Frank Stella
Introduced as STELLA BY STELLA, the Fall Winter 2022 collection celebrated the iconic American artist Frank Stella — one of the most important painters and sculptors of his generation. Presented at the historic Centre Pompidou, modern staples became wearable art. “His more linear early work lends itself so well to tailoring, and I love how he spans minimalism and maximalism, which has such a parallel with our brand,” said Stella McCartney. The playful garments are made with a colour palette and graphic prints that are an ode to Frank Stella’s abstract artwork, with stripes and geometrical scenes paying a tribute to his earlier minimalist artworks.
Like seasons gone by, Loewe Fall Winter 2022 promises to be a wonder-spectacle of dizzying proportions, wonderful details and the unexpected. The latest presentation from the Spanish-born fashion house comes directly from Paris Fashion Week, where artist Anthea Hamilton stages a series of sculptural pieces to accompany the runway. Just like Hamilton’s huge melting pumpkin sculptures that dotted the show space, the collection is a creative play on the usage of materials. That which should be soft and malleable, like leather, wool and organza, are moulded, felted and starched. On the other hand, materials that should be solid become plush, giving rise to unexpected silhouettes
2022 has been a year of non-stop collaborations. Following the hype of 2021’s collaboration frenzy — starting with Balenciaga and Gucci’s “Hacker Project”, and Fendi x Versace’s “Fendace” — the slew of inter-brand projects seemed to be relentless, never-ending and highly engaging. Allowing for new silhouettes, innovative designs and artistic interpretations, it seems as if collaborations are here to stay.
It seems like every day there is a new story in the news about someone who has had their home broken into and their valuables stolen. While this is a frightening prospect, there are fortunately some things that you can do to help keep your valuables safe and secure. Here are four amazing solutions worth considering:
Store Your Valuables in a Self-storage Unit
If you have valuable items that you do not need to access regularly, another great solution is to store them in a self-storage unit. These units are typically very secure, and you will have peace of mind knowing that your valuables are stored safely. Be sure to choose a secure self storage unit that offers 24-hour security so that you can rest assured that your valuables are safe and sound at all times. Some units even offer climate-controlled storage so that your valuables are also protected from the elements. Not only will this solution keep your valuables safe, but it will also free up some much-needed space in your home.
Invest in Good Home Security System
One great solution is to invest in a home security system. There are many different types of home security systems available on the market today, so you will be able to find one that fits your specific needs and budget. A home security system can deter burglars from even attempting to break into your home, and it can also alert the authorities if someone does manage to break in. The best thing about home security systems is that they are always evolving and getting better. Newer systems can now be controlled via your smartphone, so you can arm and disarm the system even when you are not at home. You can also receive alerts if someone does attempt to break in while you are away.
Keep Your Valuables in a Safe
Another great solution for keeping your valuables safe is to keep them in a safe. There are many different types of safes available on the market, so you will be able to find one that fits your specific needs. Safes can be big or small, and they can be hidden in plain sight or in a more discreet location. They are very difficult for burglars to break into. Even if a burglar does manage to break into your home, they will likely not have the time or the tools to try and break into a safe. You may also want to consider investing in a fireproof safe so that your valuables are protected in the event of a fire. These safes can be quite expensive, but they are definitely worth the investment if you have valuable items that you want to keep safe.
Get Your Valuables Insured
Image: Unsplash
Another great solution for keeping your valuables safe is to get them insured. This way, if they are ever stolen or lost, you will be able to get compensated for their value. There are many different types of insurance policies available, so you will need to do some research to find one that covers your specific needs. You will likely need to provide proof of ownership and an appraisal of the value of your items to get them insured. Once you have your valuables insured, be sure to keep a copy of the insurance policy in a safe place so that you can access it if you ever need to file a claim.
As you can see, even though there are many potential dangers to your valuables, there are also many effective solutions that you can use to keep them safe and secure. If you are worried about your valuables, be sure to consider one or more of the solutions listed above. You will have peace of mind knowing that your valuables are always safe.
Never has the topic of Formula 1 (F1) been so hot! Since the phenomenon of the Netflix series “Drive to Survive”, ratings have skyrocketed like never before. Adding to the buzz of this series was the announcement of the latest race for the 2023 season, Las Vegas. A night race that promises a whole new level of spectacle and excitement!
As we cannot be indifferent to this phenomenon, and knowing that F1 is loved by many worldwide, we decided to show you the best destinations that offer spectacular scenery and world-class entertainment. Here are the top 10 F1 destinations that should be on every fan’s radar this season, presented to you by Holidu, the search engine for holiday rentals.
Taking the first place crown for being the best destination for F1 fans is Monza in northern Italy! The Autodromo Nazionale Monza, also known as the “Temple of Speed”, is the fifth oldest national Grand Prix. It has over 11,000 reviews on Google and an average rating of 4.6 stars. Emotion is always present here, whether it’s the high speeds this track allows drivers to reach or the dedicated Ferrari fans. Outside of the race weekend, the circuit allows you to ride around the track by bike, car or van and even offers a go-kart track where you can spend a fun-filled day with the family.
2. Monte Carlo, Monaco
In second place we find Monaco. On the Mediterranean Sea, bordered by France, Monaco is known as a millionaire’s playground — complete with luxury hotels, fancy restaurants and huge casinos. As for the Monte Carlo circuit, it has 4.7 stars and is known for being the slowest on the calendar, but it is also the trickiest to navigate, with tight twists and turns between expensive buildings facing the sea. Place d’Armes is one of the best and brightest spots for fans; another hotspot is La Rascasse, a bar near the pit entrance.
3. Silverstone, United Kingdom
Image: Unsplash
The English circuit secures third place on the podium. The Silverstone circuit has over 15,000 reviews on Google and an average of 4.6 stars, which comes as no real surprise as it always presents itself as one of the favourites on the calendar, whether thats due to the fast corners or the spectacle it provides year after year. The Northamptonshire circuit has dedicated family areas, last year it offered coding workshops, electric go-karts and sports zones. The Red Arrows offer even more spectacle with their fantastic flypasts. Last year, as well as the brilliant entertainment there were musical acts such as Rudimental and Voice UK Anne-Marie judge Anne Marie.
4. Spa, Belgium
The Walloon Spa-Francorchamps circuit is the fourth-best destination for F1 fans to visit! South of the village of Francorchamps, it has hosted 54 Grand Prix races and has a wide variety of grandstands, which makes it easy to see not only the race, but also the bright and beautiful surrounding landscape; the area is known for its wooded valleys and natural springs. We’ll leave you with one piece of advice, choose the grandstands on top of the Eau Rouge bend and we promise you won’t regret it.
5. Montreal, Canada
Image: RedBull
In the middle of the ranking, we find Montreal. Circuit Gilles Villeneuve is a 4.361km motor racing circuit in the Quebec region. It is the venue for the Formula One Canadian Grand Prix and has hosted the drivers 40 times. When not hosting the event, the circuit is a unique facility in the province of Quebec where cycling, inline skating and racing enthusiasts come to train. Surrounded by lush gardens and a wide range of artwork, the circuit is a pleasant and relaxing venue, a good place to take a stroll. This multi-purpose track also provides excellent views of Montreal, with its strategic location in the heart of the St. Lawrence River.
In sixth place, we find São Paulo. With the Autódromo José Carlos Pace, also known as Interlagos and with a 4.6 star rating. It is a 4.309km circuit and was renamed in 1985 to honour Formula 1 driver José Carlos Pace, who died in a plane crash in 1977. Attached to its facilities is a go-kart circuit in honour of Ayrton Senna. The circuit runs counter-clockwise. Our advice for the grandstand: Situated at the start of the main straight at Interlagos, the covered Grandstand B is one of the best places to watch the action in Brazil. Grandstand B offers views of the long approach to the final corner, the pit lane entrance and some of the team garages, as well as the Formula 1 podium.
7. Budapest, Hungary
Image: Formula Tours
The beautiful city of Budapest secures the seventh position. The Hungaroring circuit, with 4.7 stars on Google, is 4.381 km lonng and has crowned two drivers in its 20-year history: both Nigel Mansell in 1992 and Michael Schumacher in 2001. In addition, the Williams F1 team and Scuderia Ferrari have also secured the Constructors’ Championship at the Hungaroring, Williams in 1996 and Ferrari in 2001, 2002, and 2004. We leave two stands where to have the best view: Gold Stand 4 is situated on the outside of the first corner of the circuit and some of the best views of the Hungaroring can be found in the final corner of the circuit. Silver 3 is an excellent choice for a first time visitor to the circuit, as the stands are elevated above the track, providing a great view of the last corners and the main straight.
8. Barcelona, Spain
The eighth position goes to the legendary Circuit de Barcelona-Catalunya, which has hosted 31 Grand Prix races, is 4.675km long and is a track of two halves: one consists almost entirely of a single straight, and the other is a tangle of tight corners. For some fun away from the race, the facilities at this fantastic venue include Rancho Rocco, an off-road motorbike track open to everyone from beginners to experts, and race fans can sign up for pit rides and autograph sessions.
9. Zandvoort, The Netherlands
In ninth place is Zandvoort in the Netherlands. The town of Zandvoort is situated on the dunes of the Dutch North Sea coast, half an hour west of the Dutch capital of Amsterdam, and the circuit itself is located right next to the beach. It held the first Grand Prix in 1950 and has hosted a total of 33, it is also the second home of Dutch world champion Max Verstappen. A curiosity about the circuit? It is British driver Jim Clark who has the most wins followed by his compatriot Jackie Stewart.
10. Melbourne, Australia
Image: Top Gear
Securing the final place in our ranking is the city of Melbourne in Australia. The Albert Park Circuit uses sections of public road surrounding Melbourne’s Albert Park Lake and never fails to provide drama — notable incidents include Martin Brundle’s car being launched over David Coulthard’s McLaren in 1996 (Brundle’s car ended up in two pieces) and Ralf Schumacher’s car flying over Rubens Barrichello’s Ferrari in 2002. Fun fact? The Australian Grand Prix holds the record for the shortest F1 race — although the record in question was actually set in Adelaide, the previous home of the event. Torrential rain led to it being cancelled after 24 minutes and Ayrton Senna was declared the winner!
Methodology:
Holidu analysed the data present on the official F1 website to find out the winners of races as well as the tracks and calendars of the current and past years. To compile the ranking, the ratings of the tracks on Google were taken into account, looking at the number of reviews as well as their average star rating out of 5. To complement this ranking, the number of times the circuits have hosted a Grand Prix was also added.
Since the founding of his eponymous brand in 2001, Richard Mille has been synonymous with high-tech watchmaking. The sublime pieces that come out of this luxury manufacture are overall a testament to the brand’s extreme devotion to research and innovation, where the timepiece pieces are a pleasure to look at as it is a technical marvel.
The watch brand has captured the hearts of many over the years and is a favourite among celebrities and sportsmen. The appeal is simple, Richard Mille’s timepieces are distinctive: skeletonised with a tonneau-shaped case that sits snuggly on the wrist; on average a watch only weighs 40 grams.
Aside from performing its function as a timekeeper on the wrist, watchmakers often take its job to a greater proportion. Just like Rolex has been the official timekeeper for the F1 and Omega for the Olympics, Richard Mille has been a long-time partner of Le Mans Classic since its creation in 2002. The eponymous founder is a notable car enthusiast, especially classic racing cars and it made total sense that he was one half of the duo that established the Le Mans Classic. At the annual event, drivers from all over the world would gather and the site features over 700 racing cars on track and 8,500 classic cars on display.
To champion the values of motorsport, Richard Mille has even developed seven watches dedicated to the event. The latest model is called “RM 029 Automatic Le Mans Classic” limited to only 150 pieces. The limited series celebrates excellence in performance, sturdiness and reliability, and is a befitting tribute to the legendary 24 Hours of Le Mans.
Sporty Attributes
Image: Richard Mille
The 49mm x 40mm case comprises a white Quartz TPT (Thin Ply Technology) mid-case with green Quartz TPT bezels on the front and back. Richard Mille’s signature TPT uses ultra-thin unidirectional sheets of carbon fibres fused with quartz fibres. The significance of carbon fibres used in motorsports is telegraph on the RM 029 Automatic Le Mans Classic, where it exemplifies the sporty side of the brand.
The front bezel features a white inlay, double stripes in a classic Le Mans style at the top and bottom. These clean lines perfectly match with the white rubber straps and the material makes a comfortable wear on the wrist as drivers speed their 1960s Ferrari or Ford around the North-Western circuit of Le Mans.
Image: Richard Mille
The Richard Mille 029 Le Mans Classic watch has sapphire crystals both on the front and back. The front tells the time and the back showcases the mesmerising calibre RMSA7 movement. The movement’s automatic winding system supplies two energy barrels, providing a power reserve of approximately 55 hours. Meanwhile, the rotor can be calibrated to the wearer’s level of activity providing ultimate accuracy like a race car ought to have.
10th Edition of Le Mans Classic & Centenary of the 24 Hours of Le Mans
Chevrolet Corvette C5-R, 2000 during the Le Mans Classic 2022 from 30 June to 3 July, 2022 on the Circuit des 24 Heures du Mans, in Le Mans, France. Image: DPPI
The 10th edition of Le Mans Classic took place from 30 June to 3 July 2022 after a four-year suspense and the motorsports event once again breathed life into the Sarthe region of France. Basked under the balmy summer days, 750 race cars having previously distinguished themselves at Le Mans between the 1920s and 1980s were divided into six grids and conquered the renowned routes.
Seen at the events are some of the iconic cars of the past such as the Bugatti T35, Jaguar Type D, Lotus 15, Ford GT 40, Lola T70 or Chevron B31. These are the mechanical beasts that won in their respective age-group classes.
Also seen during the event are other supporting races like the Group C category, where a field comprising some 50 cars that raced between 1982 and 1993 demonstrated its prowess in a demonstration grid. Also, the Endurance Racing Legends brought Le Mans Classics into a new era with a spectacular qualifying event featuring cars that appeal to young spectators. Including these two grids, the event now covers the history of the Le Mans 24 Hours from 1923 to 2010.
Apart from celebrating the 10th edition of the Le Mans Classic, come summer 2023, it will be the centenary of the 24 Hours of Le Mans and no doubt. The success of this year’s Le Mans Classic once again confirms its status as the world’s largest gathering of classic cars and a classic motorsport event that just cannot be missed
With summer comes the joy of getting out there and exploring; packing a wardrobe for your trip and taking endless amounts of pictures to show off both the destination and your travel outfit to your family and friends. But if there’s one thing that could mess up your vacation mood, it’s the unpredictable weather. Even if you’re staying in the nicest hotels, the varying mineral levels of local water, harsh summer breezes, and the difficulty of packing all your go-to styling tools make keeping your hair looking lush especially difficult.
We’re here to help, now this doesn’t mean that you need to bring your entire hair-care cabinet on a trip, but it’s just a reminder that you don’t need to skip your hair routine entirely, because you can just bring the essential items that enhance your features for the perfect summer look.
Pack a Chic Scarf
When you’re on an adventure, a good scarf is your strands’ best friend. Not only are they the perfect accessory for channelling French Riviera glam, when used right, it can also help keep your hair silky smooth. During the daytime, your scarf can protect your strands from the sun and wind, and at night you can wrap it around your hair to keep hotel pillows from causing unwelcome frizz.
Style With Serums
When you’re limited on liquids, you need styling products that pack a punch. The answer? A lightweight hair health serum that nourishes your strands from the inside out, while smoothing down any flyaways and keeping hair looking its best. Simply bring a bottle along and apply in the morning before leaving your hotel to enjoy your best hair days yet.
Study Up on Protective Hairstyles
Wherever your daytime adventures take you, spending time outside in the sun and wind can translate to frizzy, damaged strands. Do your hair, and your style, a favour by adopting protective hairstyles that are as stylish as they are useful. A low bun, braids, or even a twist is a great way to keep your strands protected — and look good doing it.
Moisturise Your Strands Before Long Flights
Whether you’re on the road or at home, moisture is your hair’s bff. Before you take that first long flight to your ultimate destination, apply a generous amount of a deeply nourishing protective overnight mask to your strands, braiding hair or putting it in a bun. When you arrive at your destination, simply rinse and comb it out and enjoy your luxurious locks. Bringing a little extra mask along in a travel container will allow you to re-moisturise throughout your journey to keep hair sleek, shiny, and stylish.
Develop an “On-the-Road” Wash Day Routine
It can be tempting to max out on those cute little hotel bottles of shampoo and conditioner, but unless there’s an ingredients label you may unwittingly be subjecting your hair to harsh, damaging ingredients. If you’re going on a short trip, decant your favourite products into travel sized containers. For longer sojourns, explore the local pharmacy. And don’t wash too often! Your hair will react badly if water contains an unfamiliar mineral composition, so if you wash it every day at home, try spacing it out a little while you’re on the road.
In July 2022, Chanel celebrated the links between fashion and music with a Mediterranean tour titled “Chanel Summer Tour”. Between fantasy and reality, the Chanel Spring Summer 2022 collection designed by Virginie Viard expresses an ethereal lightness. Bright, joyful silhouettes float amidst geometric structures in a graphic setting created by Xavier Veilhan. A decor evoking equestrian curves and constructive lines contrasts with airy silhouettes, delicate embroideries and precious flowers meant to welcome the silhouettes of the Spring Summer 2022 Ready-To-Wear and 2021/22 Métiers d’art shows, as well as the Chanel Coco Beach Collection.
Image: Chanel
The boutique is located in La Mistralée villa, a home away from home, presenting the brand’s various collections throughout the summer season, this elegant destination will be open from 8 April through to the end of September 2022. At the request of Virginie Viard, the Chanel ambassador Caroline de Maigret invited model Blesnya Minher and singer Angèle for the first stopover at the Chanel seasonal boutique in St. Tropez. The tour was accompanied by many other celebrities such as Chanel ambassadors Vanessa Paradis, Margot Robbie and Pharrell Williams.
On 12 and 13 July, a beige and black van with the double C logo was installed at the Villa La Mistralée, where Chanel has been taking up residence every summer for the past decade. Acting as a home away from home, the beige tones of the Roman opus travertine floor highlight the pinky-beige walls and the touches of black and white, allowing the villa to evoke the private sphere of Gabrielle Chanel.
Image: Chanel
It was in this welcoming atmosphere that the guests gathered, between games of pétanque, while the van transformed into a photo studio and the playing of vinyl records by musicians close to the House. The evening continued with a piano performance by Belgian born musician and Chanel ambassador, Angèle. It was then followed by a DJ set by songwriter Marine Neuilly. The following morning, guests attended a “Style Talk” — a conversation about style and allure between Caroline de Maigret and Blesnya Minher, where they discussed the heritage and inspiration behind Chanel latest collection and their impressions of the Chanel summer tour.
Overall, the two-day event was reminiscent of the cosmopolitan beach lifestyle of Monte Carlo. The celebration of Chanel’s history along Cote d’Azur was shown through sophisticated silhouettes of the collection and guests found themselves to be immersed in maison’s classic spirit of elegance, modernity and creativity.
He lifted his country out of the pacifist dogma adopted following World War Two. He contributed massively to Japan’s transformation into a country careful with its geopolitical and strategic interests so it could take up the seat it deserved at the table of global security operations. He was called a fascist by certain under-developed minds. But in reality, Shinzo Abe was a civic activist who loved his country — a staunchly, democratic man, fully dedicated to strengthening Japan.
He had, however, inherited a country in the midst of a deep crisis, that was not only economic and financial, but also existential. Therefore, he had to handle an insidious deflationary spiral with no end in sight, the implosion of the credit market, a completely unprecedented collapse in real estate, the almost total decimation of his stock market, productivity in permanent decline, the loss of competitiveness of what were once Japan’s legendary enterprises, a severe demographic decline, and the aftermath of a tsunami that devastated Fukushima, killing 16,000 people. Many articles I have penned on Shinzo Abe — on his exceptional voluntarism and his original eponymous programme (“Abenomics”) — was based on the famous “three arrows” that ultimately allowed the country to rise above the ashes of its double-lost decade. It reinstate growth and stabilised its public debt to GDP ratio.
In “If only we were all Japanese”, I explained how he had had the courage to implement a fundamentally Keynesian programme to increase public spending and to set in motion — via his central bank— a policy of massive monetary creation while also decreeing structural reforms aimed at cleaning up the economy in the long term. In “Japan: a sleeping beauty”, I highlighted the determination of Prime Minister Abe upon his appointment, making no half-measures or baulking in the face of any decision aimed at lifting his country from the lethargy it had been wallowing in for thirty years.
Thanks to Abe, Japan was able to face its destiny, and even force it through by conjuring a veritable revolution of culture and values that revitalised the labour market. In “This Japan that won’t stop surprising us”, I outlined the measures taken under his leadership that led to Japan displaying a higher rate of employment among women than the US — this is done through developing creche systems in order to facilitate women in the workplace. Having found himself with a closed-off — even xenophobic country, Abe revolutionised his country’s shape and form by turning its immigration policy on its head.
In 2017, the process to gain resident status in Japan was famously made easier and faster, allowing foreign workers to arrive in almost exponential droves. The country was given a burst of youth at a time when they were in desperate need of it — with nearly 20 per cent of under-20 year olds in Tokyo now having been born outside of Japan.
Faced with Japan’s decline and confronted with disastrous demographic statistics, Shinzo Abe focused his determination on maintaining his country’s status. His conviction was largely inspired by Keynes, who believed that until proven otherwise, we can only count on governments to save the economy by ensuring a strong and high-performing public sector, combined with decisive public spending and the proactive use of monetary policy. In “Japan, mirror of the world“, I demonstrated how Japan was a testing lab, but also a cemetery where economists and theorists could bury their certainties. This country was effectively a teller of truths hard to hear for any orthodox economist as it challenged all the commonly accepted ideals.
For more information about Michel Santi, visit his website: michelsanti.fr/en
Discover many furniture and decor creations. FIND — Design Fair Asia.
At the upcoming FIND — Design Fair Asia taking place from 22 to 24 September 2022, part of the attraction is about the new and emerging young Asian talents showcasing their works at the first edition of EMERGE @ FIND. Suzy Annetta, the founding editor-in-chief for renowned periodical Design Anthology magazine has curated her batch of design fledglings whose works are poised to set the industry ablaze.
She worked with more than 50 Southeast Asian designers to present fresh works across four pillars such as “Natural & Local”, “Waste”, “Innovation” and “Unconventional”. Some of these designers include Alvin Tjitrowirjo from Indonesia and Wei Ming Tan from Malaysia alongside rising designers Karyn Lim, Robert Sukrachand, Hoang Anh Vu, and Jim Zarate-Torres from Singapore, Thailand, Vietnam, and the Philippines, respectively.
Here are three rising new designers from Asia whom we think are the ones to watch:
Philippines — Jim Zarate-Torres
Jim Zarate-Torres. Image: FIND – Design Fair Asia.
Hailing from the Philippines, Jim Zarate-Torres may not be a household name but he’s the founder and director of Zarate Manila which was established in 2015. He works with a handful of local artisans such as welders who can create objects that are balanced, elegant, and emanate warmth when placed in an interior.
Bo side table by Jim Zarate-Torres. Image: FIND – Design Fair Asia.
His Filipino sensibility inspires Torres to create objects that express art, fashion, and industrial design. These creations reflect a modern, contemporary style relevant to our time. The Bo side table and Cheque coffee table designs demonstrate how metal needs to be manipulated through special techniques to achieve innovative and fresh designs.
Cheque coffee table designed by Jim Zarate-Torres. Image: FIND – Design Fair Asia.
The way these metal pieces are woven to create the base of the Bo side table also creates strong graphic and geometry lines and shapes in a single product, proving that Torres work can be simple and intricate at the same time. Even the Cheque coffee table is an execution of intricate work as the linear weaves come together to form a sturdy table top.
Singapore — Karyn Lim
Karyn Lim. Image: FIND – Design Fair Asia.
Singapore-based designer Karyn Lim has been exposed to a wide range of designing different product types such as playgrounds, packaging, and clothing. In addition to her design work, she also manages communications for design brands, studios, and events. Such notable projects include 1KM organised by IndustryPlus during Singapore Design Week (SDW) 2018, and Made-in during SDW 2019.
Cloud stool/side table designed by Karyn Lim. Image: FIND – Design Fair Asia.
Taking up much of her time is co-running a furniture brand called IndustryPlus. Asides from that, she also teaches design at Nanyang Technological University Singapore. Her Cloud furniture line is made from birch plywood and serves as a seat, table, or plain decorative sculpture. Lim had in mind for a furniture piece to be reductive but still functional; an arresting monolithic block that can also appear like a tangible block to be felt and used.
Cloud coffee table designed by Karyn Lim. Image: FIND – Design Fair Asia.
Peer closer at the details and you’ll witness that Cloud is curved at its lower corners, expressing a graphic layering of the plywood it is made from. Offered in two sizes a stool/side table or low table, the Cloud furniture collection is a peek into the inventive mind of Karyn Lim.
Transformation Bags designed by Karyn Lim. Image: FIND – Design Fair Asia.
When it comes to wearables or fashion-based products, Lim excels too. Her Transformation Bags were not only exhibited at La Triennale de Milano in 2015, it was also displayed at an exhibition at the Singapore Art Museum in 2016. Don’t snub these flat bags as they can be transformed into a 3D volumetric object in one swift motion. The bags are made from a semi-flexible membrane of plywood pieces and leather. The designer devised a method where the shape of each bag is determined by a specific set of geometry work.
Read about more details of FIND — Design Fair Asia here
Thailand — Robert Sukrachand
Robert Sukrachand. Image: FIND – Design Fair Asia.
Having two unique destinations to work from — New York and Chiang Mai — Robert Sukrachand is always interested to work with a blend of materials while drawing influences from different cultures. While his roots are from Thailand, his growing up years in Massachusetts gave him a global outlook. His love for mirrors is evident in one of his works.
Volume Mirror designed by Robert Sukrachand. Image: FIND – Design Fair Asia.
Volume Mirror is both three-dimensional and sculptural, the object is both artistic and functional at the same time. They are made from three convex mirrors grouped at numerous angles to create a fascinating reflection.
Torus side table designed by Robert Sukrachand. Image: FIND – Design Fair Asia.
His Torus coffee table fuses microsuede fabrics into an uncommon form. By wrapping bent plywood with this deep texture material, Sukrachand creates a product that exudes warmth. In addition, combining bronze glass and aged brass, this table is saturated with a luminous sheen and looks spectacular no matter which side you look at it.
Mirazzo Bench designed by Robert Sukrachand. Image: FIND – Design Fair Asia.
Mirazzo bench was created during an inaugural trip in 2018. He witnessed Italians’ love for terrazzo and when he returned to Thailand, he noticed park benches could be made from the same material. However, he sought to use salvaged waste products from the stone industry to transform them into an object of beauty with his personal stamp of design on it.
In a year that saw the introduction of the thinnest-ever mechanical wristwatch in the Bvlgari Octo Finissimo Ultra, we now have a new king of thin chic: the Richard Mille RM UP-01 Ferrari. When you add the Piaget Altiplano Ultimate Concept, you find yourself with a trio of watches that are bewildering. If you look at them all together in profile, you will (probably) find yourself scratching your head trying to figure out which one is the thinnest, while being amazed that these are all working watches; we have seen both the Piaget and Bvlgari examples up close and can confirm that they are quite real. Our turn will come with this RM UP-01 Ferrari too.
In all seriousness, you will need callipers or some other professional measurement tool to get the story on the differences in specifications between the RM UP-01 Ferrari, Bvlgari Ultra and Piaget Altiplano Ultimate Concept. One thing we can say for certain is that this fight is far from over, even though we called it for Bvlgari with the Ultra. So, how thin can you go with a mechanical watch? Let us go through the salient specifications for the RM UP-01 first. About that name, although the press notes do not spell it out, it seems likely that UP stands for Ultra Plat, which is French for ultra flat. Most crucially, the watch is just 1.75mm thick, just 0.05mm thinner than the Bvlgari; the Bvlgari Ultra itself bested the Piaget Altiplano Ultimate Concept (AUC for short) by 0.20mm. That amount, by the way, is the thickness of the sapphire crystal on the AUC.
We confess to being a bit less blindsided than most on the appearance of this marvel from Richard Mille. Rumours were swirling even as Bvlgari took its turn in the spotlight, but we did not expect the watch to drop quite so suddenly. To be fair here, Richard Mille is not known for its flat watches — the opposite if anything, although the manufacture does boast a number of ultra-light watches. Honestly, the idea of making a superlight watch that was also ultra-thin, and as sturdy as mechanically possible has filled the editorial team here with enthusiasm for years. In the context of Richard Mille and Ferrari, the analogy here can be found on the racetrack. In other words, the RM UP-01 Ferrari is the equivalent of the fattest, lightest and toughest racing tyre.
Image: Richard Mille
On that note, the RM UP-01 is a watch with a movement and a case, unlike its Piaget and Bvlgari peers. This was done to provide a measure of stability and to make water-resistance a reality — it is only 10m here but that is still incredible. By way of comparison, the Bvlgari Ultra has the same water-resistance rating (by the manufacture) while Piaget makes no promises at all about this. For the record, the exposed gears of both the Ultra and the RM UP-01 prompts us to suggest that the watches should be kept away from moisture. Some specialists suggest that 10m water-resistance is not even splash-resistant, but we doubt anyone is going to test these watches.
On that note about exposed gears, the RM UP-01 has two apertures on the front of the watch (really a massive bezel framing the time indicator and the exposed escapement) that serve as a function selector (winding and time-setting) and a method to set and wind the watch; calibre RMUP-01 is manual-wind, and can withstand more than 5,000 Gs of acceleration. Richard Mille calls these apertures crowns, and it function that way for sure. However, as Watchfinder & Co notes, they are more like the special systems tha pocket watches once used to wind and set the time prior to Adrien Philippe (of Patek Philippe) inventing the keyless works, and thus introducing the world to the crown.
The official press notes for the watch do not include any notes about special tools needed to work these controls, but it seems probable. In fact, this seems the most logical explanation for how Richard Mille managed to get the watch be water-resistant. No doubt there will be countless debates about whether Richard Mille is using crowns here or not, but this leads to some key differentiating points between the three kings of ultra thin watches.
Image: Bvlgari
For classicists who prefer their watches round and with a crown, even if that crown is a telescopic wonder of contemporary technology, then the AUC is the thinnest wristwatch. For those who feel like a watch needs a proper case and movement, distinct from each other, and the notional ability to actually be worn, then the RM UP-01 is the thinnest wristwatch. As for the Ultra, it is the true uncrowned champion of ultra thin watches. We like this way of looking at things because it allows each of the three watches (each one an exceptional work of horological art, no matter which way you slice it) to shine.
For more than a century, couture has been emblematic of the triumph of craftsmanship and fashion. It represents the fusion of fashion — the modern entity that combines novelty and synergy with personal and social needs — and craftsmanship — the arts of dressmaking, tailoring, and crafts constituent to apparel and accessories.
With a minuscule client base (approximately 4,000 worldwide) and an exclusive allocation of industry tickets for runway presentations, the practice can seem entirely fanciful and out of reach. In truth, the art of couture is a tightly controlled, invite-only application, governed by Paris’ Fédération de la Haute Couture et de la Mode (FHCM) with widespread influence on the fashion industry at large. But despite being the most extravagant, glamorous and expensive form of fashion, haute couture has seen a rapid decline in interest in the last seventy years.
In 2021 alone, interest in “Couture” has steadily declined by 13 per cent (according to Google Search data). In fact, only four of the top ten search queries related to “Haute Couture” are for actual collections: Chanel, Dior, Fendi, and Valentino. The idea of “glamour” itself has undoubtedly evolved with modernity.
Whereas glamour and luxury previously meant gowns, hand-made and embroidered with thousands of pearls, luxury today can be seen in the form of t-shirts, sneakers, and comically tiny handbags. So, rather than needing hundreds of thousands of dollars for a custom piece, consumers can buy into the luxury dream with a US$400 t-shirt. So how does haute couture fit into today’s modern, technology-filled, inclusive-prioritised fashion landscape?
The Not-So-Humble Beginnings of Haute Couture
Image: CoBo Social
While the phrase is thrown around liberally, the term haute couture has been building on its roots since the late 17th century. As France became synonymous with richly produced and innovative luxury silk textiles, the relationship between aristocratic and upper-class women and their personal dressmakers began to grow; and so too did the haute couture system.
Founded in 1868, the FHCM preserves the exacting standards of French fashion culture by presiding over Paris Women’s and Men’s Fashion Weeks, as well as endorsing and nurturing designers who exhibit a quality of craftsmanship that meets the level required to show on the official Haute Couture schedule.
Today, members are selected by the Chambre Syndicale de la Haute couture. To qualify as an official Haute Couture house, members must design made-to-order clothes for private clients, with more than one fitting, using an atelier that employs at least fifteen full-time staff. They must also have twenty full-time technical workers in one of their workshops.
Couture’s elitist appeal is born from its exclusivity. It is a singular moment, made of peculiar rituals. The clothes are jewel-like creations reserved for an exclusive coterie of women, whose names are religiously kept secret by the maisons. Its purchasing process is shrouded in private showings with only a select circle allowed to enjoy a seat and marvel at the exquisite creations. In a world that is increasingly digital and manufactured — and thus infinitely replicable — couture is as traditional as it can possibly get.
However, in today’s fast-paced, fast-fashion oriented world — where such a small percentage of the population has the wealth to buy Haute Couture — its slow decline was imminent. Combine that with the rise of independent designers and the rising appreciation for more independent and exclusive designers, haute couture is prone to becoming the next big fashion faux pas.
The Modernisation of Haute Couture
Image: Ralph & Russo
There is nothing democratic about couture and proudly so. It’s barely touched by the fever of visibility which has made fashion the religion of our time. Couture is based on values that are totally out of time and in a world that goes fast, it is extremely slow. While the rest of the world embraces a visual language that is fluid and endlessly morphing, couture celebrates traditional codes, rituals and clearly defined gender divisions. In this sense, couture will never be truly modern.
Yet, in recent seasons, we’ve seen designers embrace modernisation and explore the definition of couture. “Markets, trends, and clients are constantly evolving, along with their spending habits,” says Tamara Ralph, designer of couture label, Ralph & Russo. “Over the years, we’ve witnessed emerging markets taking an interest in couture, and younger generations also taking notice. There has been a real resurgence in an appreciation for true craftsmanship, spanning all backgrounds and ages.” She adds. A representative from couture label Maisonn Rabih Kayrouz told Vogue France in 2018 that their millennial clientele has grown to make up a quarter of the company’s business.
In 2022, no longer is the craft restrained to stunning hand-stitched gowns covered in handmade sequins. Though prices are still cost-prohibitive for many, today’s haute couture designers are catering to a younger plugged-in generation by embracing more youthful designs, and understanding the the impact that intricate couture work can carry on Instagram. For example, Schiaparelli’s pendant-covered designs from Spring 2020 have gone viral. By the same measure, the mesmerising, nature-inspired styles of Iris Van Herpen have attracted a new era of stars. Her unique aesthetic dominated the 2022 Met Gala by custom designing pieces for Björk, Teyana Taylor, and Winnie Harlow.
And as designers look to court a younger generation of consumers, they’re no longer laser-focused on gowns, and instead have expanded into less formal looks, focusing on artistic intention and ways to mix heritage and creativity. As seen in the recent Fall 2022 Haute Couture shows, the fusion of Demna’s harsh yet poetic sensibility and the sculptural and severe codes set by Cristobal Balenciaga offers us a glimpse of what modern couture means while at Schiaparelli, designer Daniel Roseberry fused heritage and creativity through his own insouciant fixation for breasts and nipples with plenty of iconic references from Christian Lacroix and Jean Paul Gaultier.
Beyond the design shifts spurred by consumer demand, designers are modernising this niche fashion category by crossing into other areas of cultural interest like technology and art. We start seeing haute couture more as an art form and a way for designers to share their viewpoints and core beliefs. Dior’s Maria Grazia Chiuri addressed the current moment by taking inspiration from the work of Olesia Trofymenko, a Ukrainian artist whose favourite motif, the Tree Of Life, is a folkloric symbol of humanist hope inn cultures all over the world. Another example is Dior’s Spring 2020 couture collection, where creative director Maria Grazia Chiuri collaborated with the legendary feminist artist Judy Chicago. The show included an immersive space featuring banners emblazoned with questions around the show’s concept, “What If Women Ruled The World?”
Couture’s offering of distinction in design and technique remains a compelling force, one even more potent when much other quality has atrophied. It remains a discipline of ultimate imagination, unaccountable to cost, with the paradox of being the fashion most cognizant of its ideal clients. It is, as it began, a dream of quality in an era of industry and its succession. Haute couture persists in providing us with a paragon of the most beautiful clothing that can be envisioned and made in any time and it is an industry that will only go onwards and upwards with time.
More emphasis will be put on ensuring the environment is not compromised when racing events are held from 2026 onwards as the Fédération Internationale de l’Automobile (FIA) has set out new regulations to govern competing teams’ commitment to sustainability. The key objectives that FIA on the list include: using 100 per cent sustainable fuel, overall efficiency and a new focus on electrical power.
For Formula E races, these impending changes are no stranger as its founding mission is to accelerate the transition zero emissions mobility by testing out new technologies on the race track before rolling it out to the public. Furthermore, Formula E partners with the United Nations Environment Programme to spotlight the benefits of the global shift to e-mobility.
Of course, the goal is to transfer what has been learned from these electric races to commercial car models but reality often falls short of expectations. With the global supply chain facing a crunch time, it has resulted in widespread disruptions and shortages of materials, which puts a shadow on the move towards electrification. Additionally, the withdrawal of Audi and BMW from Formula E is also a major blow for the sport as these giants are suppliers of engines and power units to other teams and series.
Could this spell the end of Formula E and is this signalling a foreshadowing of electric motoring’s future — be it on the tarmac or commercial usage?
To meet FIA’s requisites for 2026, new engine development needs to be done. Apart from electrifying the powertrain to a greater extent, the motor has to be compatible with synthetic fuels among other provisions for the race car. For any car manufacturer to be among the front runners, a tough decision has to be made and the pulling out of prominent players tells of its determination to remain a leading voice in the arena.
Naturally, it is easy to fault the exit of major car manufacturers from Formula E on the Covid pandemic. But neither Audi nor BMW have directly cited that as the reason for its departure, instead these companies revealed that Formula E no longer aligned with its corporate objectives. The increased demand for adhering to the new standards presents an additional obstacle that needs to be overcome and this effort could be utilised more efficiently on innovations that could benefit the company’s main product offering. Thus, with car manufacturers leaving or switching over to Formula 1, it is vying for a headstart in the upcoming races.
For manufacturers like BMW and Audi, there was perhaps too much of a disparity between the technology produced for Formula E and the technology produced for its standard electric vehicles. Parts and materials to produce the batteries such as lithium, nickel and graphite are already facing supply shortages. This has been ongoing since the start of 2021, therefore increasing overall material cost. As such, carmakers are finding it extremely difficult to even fulfil orders from retail customers and “auxiliary projects” like race cars have taken the backseat.
Image: Audi
Perhaps entering Formula 1, the most intense competition in the automotive world, is the catalyst for a brighter future. The four main factors: environmental, financials, global awareness and technology. These will be the guiding principles for carmakers despite the ever-shifting market demands.
In announcing the three-pointed star carmaker’s withdrawal from Formula E last year, Marcus Schaefer, who is Mercedes’ board member for research and development said, “Formula E has been a good driver for proving our expertise and establishing our Mercedes EQ brand. In the future, we will keep pushing technological progress — especially on the electric drive side, focusing on Formula 1.”
Amidst the multiple teams’ pullout of Formula E, Audi and Porsche’s interests in Formula 1 are high, and the brands are having thoughts of a partnership with other racing teams such as Red Bull Racing and Mclaren. Car manufacturers moving to Formula 1 may be seen as a natural step, where the battery and material crisis pushes for greater innovation while learnings from coming races could be applied to retail product offerings.
The implications are obvious and introduce a neat twist. While Formula E loses a few manufacturers due to its restrictive technologies and battery options, Alfa Romeo, Alpine and Mercedes have reaffirmed its commitments to Formula 1. As part of the corporate business plans to go all-electric, these car manufacturers firmly believe that Formula 1’s push for hybrid tech plays a pivotal role in accelerating battery development for the new age, thus serving hybrids and electric vehicles globally and also commercially.
Image: Spies Hecker
Manufacturers’ departure from Formula E does not necessarily put a bad light on the specific race series but proves to be the right time for a positive prospect in motorsports development. It eventually helps to open the way for an environmental and electrical future.
