CEO Guido Terreni. Courtesy of Parmigiani Fleurier

LUX speaks to Guido Terreni, CEO of Swiss Watchmaker Parmigiani Fleurier about the definition of luxury and the key values which distinguish the classic brand

LUX: What drew you to the world of horology and made you pursue a career in this industry?
Guido Terreni: My girlfriend was living in Switzerland. I decided to join her, and later she became my wife. At that time, I didn’t imagine that I was also getting married to watchmaking.

LUX: What are the core values of the Parmigiani Fleurier brand, and do you believe these have changed over time?
GT: Parmigiani Fleurier is founded on 2 very important values that are embodied in its founder, Michel Parmigiani, who is a living legend of restoration.

The first is a deep cultural knowledge of watchmaking history, and with it, its different crafts across all eras and all components. The second is discretion, because when you are a restorer, even with the highest of skills like Michel, your ego has to disappear. This is because your work is about giving a second life to the work of another creator.

These values are eternal, and our responsibility is to keep them at the heart of our Maison for the pleasure of our clients.

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LUX: In the two years since you were appointed CEO, sales at Parmigiani Fleurier have seen dramatic improvement. What is your business strategy and why has it been so successful?
GT: Indeed, we are experiencing a fantastic momentum that originated from the unveiling of the Tonda PF Collection at the end of 2021. The centre of the strategy is designing a pure and contemporary collection that respects the brand’s values of high horological content and understatement, to please the refined and non-ostentatious watch purists of tomorrow. Everything else, meaning distribution and communication, must be consistent with this desire, where quality over quantity is always respected.

Parmigiani Fleurier’s founder Michel Parmigiani in the restoration workshop. Courtesy of Parmigiani Fleurier

LUX: Your recently released Calendar Watches Trilogy reflects a number of different civilizations and cultures. Can you tell us about the importance of global or cultural approaches to watchmaking?
GT: Global and cultural approaches are part of the same game. The brand is always consistent when it expresses its creativity, whether to the world, or to a specific audience. Authenticity, deepness of the idea and excellence in the execution must always be there. When you address a different culture, what is deeper than interpreting a different way of mastering time?

It is not a commercial exercise. It is a cultural one, that starts from respect, understanding others and putting the Swiss watchmaking culture at the service of another one, while keeping the Parmigiani touch in doing so.

LUX: How can watches tell the stories of people?
GT: A timepiece is probably the most intimate object we accompany ourselves with. Apart from collectors that evidently have a watch for every occasion and every mood, the majority of watch lovers wear their watches for quite a long and continuous time. It is the only object you don’t think about when you choose your outfit in the morning. It is therefore always right for the owner, because it reflects his or her personality. That’s why you can tell a lot of things from how a watch is worn.

The Parmigiani Fleurier Manufacture. Courtesy of Parmigiani Fleurier

LUX: How do you balance honouring the history of traditional watchmaking techniques while also looking to the future and continuing to innovate?
GT: Personally, I value tradition as our roots. They forge your thinking and your craft, but if tradition becomes an obsession, it becomes a cage, a rail from which there is no escape or evolution.

Luxury, to me, is about evolving excellence. Innovation might not be technological, as the quartz watches, or more recently, the smartwatches have demonstrated in failing to supersede the traditional mechanical technology. You can innovate while respecting tradition. You can refuse to accept that everything has already been invented in watchmaking. That, to me, is interesting and creative and pushes our quest to be world premium. Luckily, there is no recipe to express an innovative luxury experience, it’s a question of sensitivity and balance.

LUX: What sets Parmigiani apart from other renowned watch brands, and how do you maintain a competitive edge?
GT: We create discrete high horology, where superior crafts and refinement must respect the non-ostentatious values of our clientele and our Maison. We maintain our competitive edge by aspiring to present innovations that are interesting, and that can become lifelong companions, like the Xiali Calendar, or reinterpreting important functions like the GMT with our GMT Rattrapante, or exploring new functions with the Minute Rattrapante.

LUX: What role does the restoration of watches and other artifacts play in shaping the brand’s philosophy?
GT: To quote Michel: “Restoration is our source of knowledge.” It is important not for the sake of replicating the past, but to acquire and keep alive that sensitivity to the mechanical art that moves us.

The Parmigiani Fleurier Maison. Courtesy of Parmigiani Fleurier

LUX: What are the key challenges facing the luxury watch industry at the moment and how should these be addressed?
GT: The luxury watch industry has become a very big market. The bigger it gets, the more mainstream it becomes. The risk for the industry is to lose contact with the true luxury experience, which has little to do with the size of the budgets at your disposal, but a lot to do with the ideas you have in mind.

Read more: Bovet’s Pascal Raffy on horological artistry and engineering

LUX: Looking to the future, what can we expect from Parmigiani Fleurier as it continues to evolve as a brand?
GT: The Tonda PF has just been born. We have to work with discipline and make the collection become iconic.

We will continue to be true to our values and we will continue to be creative, innovative and assure a supreme execution, while aiming to always being interesting.

Find out more: www.parmigiani.com

Yayoi Kusama Statue at the Veuve Clicquot Exhibition. Courtesy of Veuve Clicquot

Maison Veuve Clicquot has brought its travelling exhibition to London this May. Trudy Ross stepped out to Piccadilly Circus to interview CEO Jean-Marc Gallot amidst sunflowers, paintings, sculptures, and that iconic gleaming yellow 

LUX: Queen Victoria was the first British royal to order a direct shipment of Veuve Clicquot in the 19th century. Now in 2023, with a new monarch having just been crowned, the brand still has this presence in the heart of London. Can you speak to the brand’s long history with the Royal Family?

Jean-Marc Gallot: It is a very, very, long history. I think the first shipment for the royal family was in 1868. In one of the exhibition rooms upstairs we have a menu made especially for Queen Victoria’s son, Edward the 7th Prince of Wales. He gave us the Royal Warrant in 1905, so, I would say, we have a very strong link and history with the UK.

The Maison was created in 1722, so we celebrated 250 years last year. The first shipment to the UK was in 1773, 250 years ago. So there is a long, long story between Veuve Clicquot and the UK. Out of the nine female artists we have here, two are British. We have Cece Philips and Rosie McGuinness, who have created their own portraits and interpretations of Madame Clicquot.

LUX: Throughout these 250 years, what do you think has changed about the brand and what has remained the same?

JMG: What remains today and will continue to remain, is the fact that we have an incredibly inspiring woman at the centre of our history. Madame Clicquot at her time was so courageous, determined, and audacious. She was a widow at 27 years old but her spirit, her audacity, and also this idea of being solaire, being radiant, is what remains in everything we do. It is a state of mind. Everyone from myself, the CEO, to my team, to everyone you will see here today from Maison Veuve Clicquot, works with this state of mind. I think it’s super important to have this spirit of being solaire, audacious and always surprising people. That is not going to change.

Display of Veuve Clicquot’s iconic designs through the years. Courtesy of Veuve Clicquot

What has changed? I would say that when you are so linked with the contemporary and the people around you, you also have to be very curious and try to evolve. So an example is right here: you have the very first ice jacket made by Veuve Clicquot. This first one was made 20 years ago out of diving costumes, but the ones we make now are made by the Saint Martins School of Business of 100% recycled plastic and this mono-material approach uses on average 30% less material than regular production. You can look at things we made 20 years ago and think, yes, this is nice, but we must continue to innovate, to respond to the times and move forward. Every single box that we make now in Veuve Clicquot is made out of 50% recycled paper and 50% hemp (not the hemp that people smoke!).

What we want to show here is that we have some duties to the world we live in. Not everyone is aware of the need for these things, so as a major brand we can help to act as an exemplar. This is what I am hoping to build with my team.

LUX: Your champagnes are offered at a range of price points. How do you balance keeping its luxurious and exclusive reputation whilst also ensuring it is accessible to a wider audience?

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JMG: I have been working for 34 years in the luxury world. I worked at companies like Louis Vuitton, Cartier, Fendi, wonderful luxury names, and I know that luxury, for some people, means something that is not easy to get or seems unapproachable.

I don’t agree with that viewpoint at all. We have a collection of products, starting with the iconic yellow label, Brut, which is the most famous bottle of Veuve Clicquot, then you go to La Grande Dame which is at a much higher price point. Both of them however, embody the spirit of Clicquot, so it’s not a matter of price, it’s a matter of how desirable your brand is and how much you have built around the brand.

Take an exhibition like this, running for 3 weeks in the heart of central London. Some people in this area are on their way to very nice upmarket restaurants, and some are on their way to Tesco. Both will pass the exhibition, they will see these artists and learn about Madam Clicquot’s story, and then they will understand the dream, the spirit and the history of Veuve Clicquot.

Outside the Veuve Clicquot exhibition in Picadilly Square. Courtesy of Veuve Clicquot

LUX: Can you tell us about the importance of art and the art world to Veuve Clicquot?

JMG: Actually, we are not really in the art world; I would say that we are in the design world. Design is not art, it is the way of making a beautiful object which is also functional, or building something beautiful around an object. When you sell bottles of champagne you have to build something really extraordinary. We love the beauty of objects and we believe that in champagne, since you have something precious inside the bottle, you have to make the outside of the bottle exciting as well. So we constantly are looking for the next idea, and there is no set recipe. It has to be a surprise, because more than anything else, we love the element of surprise.

LUX: Beyond this all female exhibition, Veuve Clicquot has many initiatives supporting gender equality, including supporting women entrepreneurs through your Bold Woman Award. Can you tell us more about this aspect of the brand?

JMG: This is the spirit of Veuve Clicquot. Fifty-one years ago one of my predecessors thought, what can we do for the 200 year anniversary of Maison Clicquot? They had an incredible inspiration and vision and said, why don’t we celebrate the spirit of woman entrepreneurs, why don’t we shine light on some inspiring women?

What we found out through running the Bold Woman Award was that for women there are many social barriers standing in the way of them running their own company or being independent. Veuve Clicquot is trying to fight against this because we believe there should be as many women entrepreneurs as men entrepreneurs.

The statistic is the following: 92% of women entrepreneurs believe and admit that they would love to have a role model, and only 15% of them can name one off the top of their head. We want to change this and help to inspire women. The first very inspiring woman entrepreneur was Madame Clicquot, and for the last 220 or 230 years, there have been many more women entrepreneurs that we want to shine a light on. It’s about sharing, inspiring and making the world more balanced between men and women.

Cece Phillips, Window Clicquot, 2022.Courtesy of Veuve Clicquot

LUX: What is Madame Clicquot’s story and why is it so important to the brand?

JMG: You are in 1805 in France, in a very traditional, even noble family. You have faced a lot of challenges because twenty years ago was the French Revolution. You have a very nice husband who you love and a very severe and traditional father in law. Then you become a window overnight. Imagine: you basically don’t exist anymore. What are your options?

You could find another  husband, but instead you say “no, I’m going to take over the company. I’m going to run the company.” Everyone tells you not to, starting with your father-in-law. He says you are not capable of it, you cannot do it, you will not succeed at it. So, you are stuck.

If I had to describe Madame Clicquot, I would say she was  incredibly courageous, incredibly audacious and took huge risks. She teaches us that if you want to do something, just go for it. Never surrender.

LUX: The artworks that are on show here are reimagined portraits of Madame Clicquot. Can you tell me a little bit more about which ones are your favourite, and which one you think speaks to the values of Veuve Clicquot?

JMG: I have to say that I have a love for the Cece Phillips portrait in particular. You have the whole story there. You have a young woman sitting at her table, you see the vineyards through the window, you see that she is studying, very focussed but also very determined. She was writing a lot at the time, writing ideas, writing about the company. She was not travelling, but she was sending letters to all the customers around the world. This and the light, the vibrant, sunny appearance of it all, this is Clicquot.

I have to say, the portrait we have of Clicquot was taken when she was 84 years old and she looks a little bit severe! With all do respect to 80-year-old women, this was maybe not Madame Clicquot at her strongest period of life. Cece Phillips gets it all in one painting, you have the whole story in one, so it’s better than words.

Ines Longevial, Ghost Guest, 2022. Courtesy of Veuve Clicquot

LUX: Beyond the artworks, what else interests you about the exhibition?

JMG: The statue of Yayoi Kusama is pretty impressive, but my favourite piece today here in London, which is not really in touch with the exhibition itself; it is the Sunny Side Cafe. I love it because this is actually when Clicquot meets British tradition and British culture.

LUX: The exhibition has been in Tokyo, Los Angeles, and now London. Where is next?

JMG: We started in Tokyo in June last year, and then we did three weeks in Los Angeles, and now it’s three weeks in London. Next year, we might go somewhere else, perhaps a continent we have not been to yet, perhaps South Africa.

LUX: What was the decision-making process behind choosing these three cities?

JMG: These are the three most important market places for Veuve Clicquot. I loved the idea of being in Tokyo because Japanese people are so refined. Then we went to the US and we didn’t want to go to New York because we thought we were going to be lost, and we love the vibes of LA so we went there. When we went to Europe we didn’t look for France – can you imagine me, a French guy, saying that! – but we decided to take it to London.

Yayoi Kusama, Twist with Madam Clicquot! Courtesy of Veuve Clicquot

LUX: Would you take it to France and if not why?

JMG: No, for a few reasons, actually. First we love to speak about our brand outside of our own country, and second because the UK is very important to us, and also because there are some legal constraints in France which wouldn’t allow us to make such an impression in an exhibition like we have here.

LUX: You have a lot of tradition and history behind you. In today’s market, with the younger generation coming up, what do you think are the key changes and the key ways that you’re going to have to adapt as a brand to appeal to these younger consumers?

JMG: We are a luxury maison, and I’m a strong believer that luxury is about what you offer rather than just marketing fast-moving consumer goods. We talked about how to surprise people, how to make people dream and feel that they are getting something that they are really inspired by. My point is that if we keep on being ourselves, being super creative and bringing excitement, I think that we can offer things that people will discover and appreciate, even if they are not tailored to their tastes.

Read more: Visual art and music meet in Shezad Dawood’s latest exhibition

If we start to do it the other way round and try to anticipate what it is that people expect, what they want or think they need, we lose our spirit and our soul. Of course, we need to listen to the younger generation, look at what they do, and how they behave to a certain extent. However, I don’t want to be obsessed with creating something that people will expect.

Find out more: solaireculture.veuveclicquot.com

Bernadine Bröcker Wieder is the CEO of Arcual, a blockchain software created by an art focused ecosystem for the art world. Here Wieder speaks to LUX’s Leader and Philanthropist Editor, Samantha Welsh, about buying and selling art on the blockchain and the effect it will have on the next generation of art collectors

LUX: How has your experience as an artist and art historian shaped your values?
Bernadine Bröcker Wieder: I am always thinking about the future and often thinking with artists in mind, as I originally trained as a classical artist, before managing an Impressionist and Modern gallery in London. I love exceptions to the rules and creativity. When you are building technology but thinking about how it might be used in the future, the tech has to be capable of being customised, upgraded and scalable. You cannot employ a one size fits all approach to anything in life yet technology is about binaries.

Given my background working with museums with my first venture, Vastari, I learned about ethics. Museums built international standards throughout the world to attempt to uphold a neutrality to preserve our culture and knowledge. This is so difficult to do, and there has been heated debate about what ethical behaviour looks like this century, taking into account our evolving thinking around sustainability and inclusion.

Additionally, I believe in the importance of giving back. I am excited to see how Arcual develops its next features with museums and other non-profit organisations in mind. For example, can we facilitate resale royalties receivable for those non-profit institutions that commission artworks from artists so as to help ongoing funding of those institutions?

Athene Galiciadis, Empty Sculptures, 2023, courtesy of von Bartha Gallery Copenhagen

LUX: How did your understanding of sales dynamics inspire you to test a new approach to managing exhibitions?
BBW: People often go into the world of art and tech because they identify problems that can be solved. I noticed that museum exhibitions often showed the same works over and over again from the same group of lenders, and excluded privately owned works, so with my first venture, I built a matchmaking service for collectors and museums. Having a museum show can greatly impact the perceived value of a work of art, so opening-up that value creation to a greater pool of lenders seemed sensible.

As Vastari grew, we received feedback from the museums that they also wanted matchmaking services for touring exhibitions so we evolved to include this in our offering. So much of the sales process is about listening to what the customer really needs and how to solve for that.

At Arcual, I know that our offering will continue to change and evolve based on the feedback we receive, and that’s what is beautiful about technology – it is iterative.

Detail from Nocturne by Phoebe Cummings, 2016

LUX: How did this change definitions of art and art communities?
BBW: At Vastari, I learned the benefits of involving various different stakeholders in the art ecosystem, and the importance of being involved with associations. We became a member of the International Council of Museums, the American Alliance of Museums, and the Association of Academic Museums and Galleries. These associations were instrumental to our technological innovation becoming aligned and involved with, rather than trying to go against, the status quo.

I am personally a member of many communities, from AWITA and PAIAM to The Worshipful Company of Arts Scholars and Sandbox. These communities shape the way I see the world and connect to it, and help me interact with others with different opinions or viewpoints to my own.

Bon appétit IV, 2022. Courtesy of the artist and Sabrina Amrani

LUX: New technologies are often seen as ‘taking out the middleman’ and an opportunity for direct engagement between artists and collectors. What do you think will be the impact of blockchain on art world infrastructures and relationships?
BBW: Technology can certainly be considered as a disintermediation tool, but you are still using a technology platform to connect. That can be Facebook, Youtube, TikTok, Docusign or OpenSea. We are trusting new technology-based middlemen to transact even if these platforms are perceived to be neutral.

So it’s about looking deeper at the new middleman, and whether you trust them. With blockchain you can at least make sure that your data is not held hostage by one organisation. At Arcual, we are founded by a collaboration between the LUMA Foundation, MCH Group (the parent company of Art Basel) and BCG X.

So, going back to the idea of taking-out the middleman in the art world, many think the future is about artists selling directly to collectors. I believe that there is a reason why the gallery or dealer historically played an important role in that relationship. So our system is about collaboration, as opposed to competing and ‘cutting-out’; more about reinforcing why that relationship exists in the first place. For example, Arcual generates digital certificates of authenticity for artworks with dual signatories, signed by both the artist and the gallery for added trust, before an artwork’s provenance is logged into the blockchain.

Fiona Rae, Faerie gives delight and hurts not, 2017. Image courtesy of the artist and Galerie Nathalie Obadia Paris Brussels

In the coming months, we will also launch an expanded digital Certificate of Authenticity feature, which can contain attachments, be personalised and much more. The expanded CoA enables artists and galleries to build out and affirm the authenticity of an artwork, acting as a kind of digital dossier, which strengthens the connection and makes it more valuable for a collector.

As a technology provider, Arcual aims to bring value with the features we build and also uphold the existing value that different parties bring to the ecosystem.

LUX: What does the Arcual team look like and how do you all bring your strengths?
BBW: Arcual has developed a unified team with such a strong sense of purpose since I joined as CEO, just over a year ago. With 34 talents across 17 different nationalities and growing, based in Zurich, London and Berlin, we work collaboratively towards one mission, that of empowering the art ecosystem to embrace innovation, for a more equal future.

LUX: How is blockchain disrupting how the art market functions?
BBW: Blockchain engenders trust through its checks and balances, ensuring that information is encrypted, secured, and timestamped. The fact that it processes automatically according to the terms of an agreement can ensure that all parties in a transaction are protected.

Phoebe Cummings (clay) detail (2)

Arcual’s blockchain aims to work with and for, as opposed to against, existing art world structures. Later this year our whitepaper outlines our approach to privacy and governance, that we maintain rights of privacy but the transparency of the transaction can offer parties confidence.

Our backers stand for quality, and for championing sustainable growth in the future of the art market. We are one company, but our shareholders form a decentralised governance, and there will be a gradual process of decentralisation of the technology and governance in line with blockchain principles.

LUX: Why is this significant for next gen emerging artists?
BBW: Arcual has been purpose-built to offer artists greater participation in their own careers. Our agreements, certificates and smart contract terms are approved by artists. This is significant because it gives artists an opportunity to codify their preferences for the future conservation, care and installation of their work. For gallerists, the 2023 Art Market Report (AMR) showed that finding and engaging new artists is a key priority, particularly for primary market art dealers. In 2022, sales from the single highest-selling artist accounted for an average of 31% of sales for galleries, while their top three artists accounted for just over half of sales.

Galleries that use Arcual’s blockchain technology are committed to empowering artists from the very beginning of their careers. This is an important message and attractive offer for engaging the next generation of artists.

Lea Porsager, Mandorla breaks Open, 2023

LUX: How will these changes affect collectors?
BBW: As Arcual helps engage new artists, it also engages new collectors. The AMR also flagged that ‘blockchain is helping to lower barriers to entry into the market, enabling new collectors to enter [which is] essential to its long-term health”. With the failure of some internet-based businesses, the uncertainty of social media pages’ longevity, potential internet disruption, and with the inherent risks associated with only having paper certificates, it is the availability and security of information stored on the blockchain which is attracting younger generations and new collectors.

LUX: Please sketch how ledger principles apply to art transacting and smart contracts?
BBW: Ledgers basically help everyone to understand what has been agreed and that these terms have not been changed until that is added to the ledger. Arcual’s smart contract terms and ownership agreements offer a chain of ownership and digital certificate of authenticity that is protected on the blockchain and can be harnessed for future secondary market sales and acquisitions.

LUX: What is next for Arcual and how can the community get involved?
BBW: In June, Arcual will be an official partner for Zurich Art Weekend, hosting a panel discussion with some exciting speakers around how technology is impacting power dynamics in the art world.

During Art Basel in Basel, I’m thrilled that Arcual will have a booth in the Collectors Lounge for which we have commissioned a unique sculptural artwork by British artist Phoebe Cummings to spark conversations around our new Digital Dossier feature. We will also take part in events and talks around the fair, including the Conversations series panel around blockchain, ownership and copyright.

Find out more: www.arcual.art

Shezad Dawood, Night in the Garden of Love, 2023. VR environment, duration variable, produced by UBIK Productions, co-commissioned by WIELS, Brussels and Aga Khan Museum, Toronto. Courtesy of UBIK Productions

British artist Shezad Dawood is presenting his latest exhibition ‘Night in the Garden of Love’ at WIELS in Brussels this May. Commissioned by WIELS and the Aga Khan Museum, this exhibition marks Dawood’s largest presentation of new work since 2019 and his first solo exhibition in Belgium

Shezad Dawood is known for his experimentation across numerous different disciplines and exploration of different cultures. Inspired by the works of musician Yusef Lateef, ‘Night in the Garden of Love’ showcases a captivating blend of music, drawings, virtual reality experiences, painted textiles, algorithmic plants, costume-sculptures, and live choreography.

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He first came across Lateef’s music in his youth, and later became fascinated by his abstract drawings which often feature dreamlike landscapes and strange but beautiful life forms inspired by music pieces. Dawood’s latest exhibition, however, is based on Lateef’s novella, from which it takes its title.

Shezad Dawood, Night in the Garden of Love, 2023. Performance rehearsal, Choreographer and Dancer, Wan-Lun Yu. Costume by Ahluwalia. Image by Miranda Sharp. Courtesy of UBIK Productions

Lateef pioneered a methodology he called Autophysiopsychic music, which he defined as “music from one’s physical, mental and spiritual self”. Like Dawood, he integrated cultures and traditions from across the world into his artwork and experimented across many different mediums. The exhibition serves as a dialogue between Dawood’s practice and Lateef’s, and through it, Dawood aims to create a metaphysical and virtual space, leveraging technology to imagine new forms of togetherness while also addressing the climate crisis.

Installation view ‘Shezad Dawood, Night in the Garden of Love’, WIELS, Brussels, 2023 © We Document Art

On wide variety of mediums featured in the show, Dawood told LUX: “It took me almost 8 years to bring this project to fruition, and one of the key aspects for me was the set of correspondences and echoes between Lateef’s music, his drawings and his writing practices, which I began to see as one expansive score.

Installation view ‘Shezad Dawood, Night in the Garden of Love’, WIELS, Brussels, 2023 © We Document Art

This allowed me to build the show as an iterative score, where each element leads to the next and informs and amplifies it, like stars in a constellation.

Read more: Vik Muniz’s Mixed-Media Reflection on Perception and Materiality

When I paint I often think of colour in terms of a palette of sound and music, and then elements from my paintings informed the digital seedbanks, as I derived the base designs for each algorithmically generated plant from my paintings, that were in turn responding to Lateef’s original drawings, which also feature in the show.”

‘Night in the Garden of Love’ is running until Sunday 13th August at WEILS in Belgium

Fishes, 24 March 2019, Teahupoo, Tahiti, French Polynesia. © Ben Thouard

Markus Müller discusses how the ocean, biodiversity, the global economy and the world of finance are inextricably linked – and proposes what should be done now to make business fit for a nature-compliant future

Markus Müller

Economics is deeply bound to nature. Portfolio managers in finance often think they invented the idea of diversification. I hate to disappoint them, but it was created by nature first. Nature, like economics, invented diversification for risk protection and to provide the breeding ground for development. If everything stayed the same, there would be no development – this is true for nature and true for economics.

According to some estimates, half of global GDP is directly attributable to nature. Some industries, such as construction, agriculture and manufacturing, use nature’s output to create economic output, and are therefore heavily nature-dependent. The biodiversity of nature is also essential to economics, because the wide assortment of living things provides crucial ecosystem services to the economy. These services range from providing fresh air and clean water to producing food. Nature provides everything that humans consume.

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The ocean plays a big part in biodiversity, as two-thirds of our planet is covered with water and more than 95 per cent of that is ocean. If we allow our ocean ecosystems to be depleted, we create risks for nature, for humanity, for the economy and for social stability. Human life is heavily dependent on ocean ecosystems and, if we let them deteriorate, the services we need to live and thrive will not be there. We would lose the critical services the ocean provides, such as the natural governance of carbon sequestration and temperature regulation. It is all one connected chain.

There are a myriad of links between nature and economics. The ocean is a great example of this, and an example of how we undervalue nature in our economic thinking. For instance, do we really understand the financial impact of having 40 per cent of the global population living near the coast with the threat of rising sea levels? Have we really taken into account how vital water is for our livelihoods and do we have an economic model that accounts for this?

Although our understanding of ocean economics has developed, there is still a long way to go. However, we do know enough to start taking action. Some may ask, why is it important to finance the blue economy? The real question is, how do we use finance to transform our current non-sustainable and non-equitable blue economy into a sustainable and equitable one? First, we have to be clear about the goal: to have a sustainable and equitable blue economy and a nature-compliant economic model. Creating such a model is the equivalent of the economics behind building and operating a railway infrastructure. To build a functioning train network first requires a railway system, which is too expensive for private markets to install and is the kind of cost that only a government can afford – but the trains can be provided and financed by private companies.

We need to enable the ocean to deliver its ecosystem services. Many ocean assets need to be protected in Marine Protected Areas (MPAs) and they are unlikely to generate an investment return. This means assets in MPAs are not suitable for a market system; rather, it becomes a governmental and societal responsibility to protect them and ensure they are not being depleted or overused. Governance is key for this to be successful.

Finance can be a tool that then helps achieve the goal for a sustainable and equitable blue economy. Global financial markets can play a role by providing a premium to companies that operate in the blue economy. In time, these companies that account for the impact that the ocean has on their economic activity can become more profitable and have more stable profit generation than other businesses. Those businesses that do not account for the ocean may find they are at risk: a reputational risk, a physical risk, even a liability risk. Financial markets can also provide indirect support to sustainable companies that understand how their value chains are impacted by the ocean. This is also part of ocean finance.

In this new economic model, firms link self-interest to the health of the natural machine. CEOs understand their dependency on the ocean and are therefore aligned for protection. This happens through transparency, disclosure and data flow. Regulation provides a framework, which can be supplemented by the private sector if needed, as regulators can’t do everything. The risk to watch out for is using key performance indicators (KPIs) that are not globally or locally accepted in financial markets. Here again, regulation is an enabler.

Companies that are directly involved in the blue economy should employ local people and redistribute the accrued margin to the local communities, based on the understanding that nature needs time to recover. This would be both sustainable and equitable. Self-interests will drive this and it will happen at the local level, bottom up, before eventually forming global coalitions. An economy, or society, works from an agreement of self-understanding. Thus, if humankind can reach an agreement that fossil fuels are not the way forward, then society will find a way to abandon fossil fuels. However, if there is not such an agreement, then global treaties will not be signed.

Read more: 3Sun Gigafactory’s Eliano Russo On The Clean Energy Transition

Literacy in the systemic value of natural capital is incomplete, especially in financial markets. It follows a similar path to the understanding of climate change from the past 40 years. But it is growing. We must now act on propositions such as those outlined here to build the nature-compliant economy of our future.

Markus Müller is Environmental, Social and Governance (ESG) Chief Investment Officer at Deutsche Bank’s Private Bank

Find out more: deutschewealth.com/esg

This article was first published in the Deustche Bank Supplement in the Spring/Summer 2023 issue of LUX

Fausto Puglisi, Creative Director of Roberto Cavalli

Fausto Puglisi, Creative Director of Roberto Cavalli, has revitalised the Italian fashion house, which found high-octane fame in the 2000s, turning it into a hot-ticket brand for Gen-Z. Puglisi talks to LUX about glamour, passion and reimagining Cavalli for a more inclusive age

LUX: You have always had strong links to the Roberto Cavalli brand. What made you join it fully in 2020?
Fausto Puglisi: Roberto Cavalli is a brand I am totally comfortable with. It has always been a brand linked to women’s freedom, to seduction. The seduction that Roberto Cavalli represents today for women is not to please anyone but herself. It is, above all, linked to freedom, empowerment and dynamism. The Cavalli woman is sexy and glamorous- she owns her own body. I love seeing my Cavalli far away from any ideas of misogyny, closure and armouring. These do not reflect my woman, who is free and always advocates for freedom.

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LUX: Roberto Cavalli has a particular place in fashion history in dressing music stars. Is this a legacy you with to continue?
FP: Everything began with music in my career. My biggest supporters have always been music stars and I will continue to support them with Roberto Cavalli. The brand represents a continuous bond with music and so it will remain in the future. It comes to me spontaneously and naturally.

Sketch for a custom-made pieces by Roberto Cavalli, with Puglisi’s comments for Jennifer Lopez in 2022

LUX: How is Cavalli best worn- as a prize piece or as a full outfit?
FP: Cavalli can be both a full outfit and a prize piece. I think of different women and aesthetics when I imagine the pieces I develop for my collections. I am thinking of women who could wear a Cavalli total look, but also of those who could be defined as “not for Cavalli”, but who would be able to wear a beautiful pair of Roberto Cavalli trousers – perhaps combined with vintage knitwear pieces for their parents, or even a Cavalli biker jacket with a splendid skirt by another famous brand.

LUX: What are your favourite pieces from the SS23 collection>?
FP: I love all of them. In particular, the slip dresses in the Wild Leda print, which I wanted to name in honour of Cavalli’s wild heritage. Also from the new collection I love all the flat folds on the clothes that recall old Hollywood, a sort of Babylon in Puglisi Sauce.

LUX: Any print you are particularly fond of?
FP: I love the Wild Leda print. Roberto Cavalli started out as a painter, and, as he transitioned into fashion, he continued to design his prints by looking at art and historical paintings, and interpreting them in his own way. Wild Leda is a celebration of beauty as a female superpower. It is a celebration of spontaneous sensuality, of pleasure in nature, à la Cavalli.

An image from the Roberto Cavalli SS23 campaign

LUX: Who are the ultimate Cavalli women to you today?
FP: For sure, I would say J.LO, Miley Cyrus and Taylor Swift.

LUX: Do you feel that the Y2K trend has been good for the brand?
FP: Absolutely. The kids who grew up with Roberto Cavalli are now about 25 years old and experience the brand as a beautiful memory linked to Britney Spears, Destiny’s Child, Beyoncé of the early 2000s and Jennifer Lopez. There is certainly a very strong bond between the new generations and that of Roberto Cavalli in the early 2000s.

LUX: How do you feel about revisiting iconic eras, such as the 2000s, through clothes?
FP: I love it. I was living in the US in the early 2000s when Roberto Cavalli was the big superbrand. First I live in NY, then I moved to LA. Roberto Cavalli was Hollywood, the maximum glamour possible. It was blaring music, a supercar that races tirelessly.

Sketch for a custom-made pieces by Roberto Cavalli, with Puglisi’s comments for Taylor Swift in 2023

LUX: What are your thoughts on consumerism in fashion?
FP: I believe in everything that is done with the heart and with passion. Therefore, I do not believe in unbridled consumerism for its own sake.

Read more: Donatella Versace Interview: Doing It Her Way

LUX: Do you like the idea of passing clothes down from generation to generation?
FP: I believe in quality and emotion. Fashion must convey an emotion, so it is right that if a garment is beautiful, well made and able to excite and last over time, it can be worn through various generations. Our latest collection has an example of this in the kaftan, which recalls the famous ones worn by Marta Marzotto. The piece was reworked and adapted to modern times. It represents an ideal, inclusive piece that can be worn by one woman, and then reworn by her daughter or granddaughter who uses it to go dancing in Ibiza. The cuts and shapes of the dress change slightly with the times, but the attitude is the same.

Find out more: robertocavalli.com

This article was first published in the Spring/Summer 2023 issue of LUX

Vik Muniz, Woman of Algiers, after Pablo Picasso (Surfaces), 2022

Brazilian artist and photographer Vik Muniz’s most recent series Surfaces is currently on display in the FOTOCUBISMO exhibition at Ben Brown Fine Arts in Mayfair, London until 26th May.

Born in Sao Paulo Vik Muniz’s abstract studies of shape and form recall the Cubism of Pablo Picasso and Fernand Léger, but he also integrates his own personal style and techniques. Speaking to LUX, he described Cubism as: “…a response by artists to the hegemonic influence of photography on the way we see the world. They saw something in the world that was more complex, more human, and more multifaceted, and to go back after such a long time and use the same medium, the medium of photography, to reinsert this power of questioning to Cubistic images seemed like a challenge but also it just became an extension of what I was doing earlier.”

Vik Muniz, Still Life 2, after Giorgio Morandi (Surfaces), 2022

In this series, Muniz uses a hybrid approach, photographing his own paintings and collages which are often inspired by iconic images from art history, from Otto Freundlich’s works to those of Burle Marx. The resulting photograph is then edited and reassembled to create the final piece, one of many layers and textures, which mixes the mediums of photography and painting and calls the viewer to question the nature of their own perception. In this way, Muniz presents a study on ways of looking and seeing, while also exploring the reality that lies beneath the surface.

Vik Muniz, Dora Maar with Cat (Surfaces), 2022

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On his Surfaces series, Muniz told LUX: “The idea is that the pictures are filled with layers of meaning that shift the pictorial plane and the objective is to cause a lot of ambiguity. So whatever you see as a piece of paper may just be a picture of a piece of paper. I hope to create a lot of confusion in the gaze of the viewers, and that it becomes not only entertaining but also revealing of what they are hoping to see in a picture.”

Vik Muniz, Guernica, after Pablo Picasso 2 (Surfaces), 2022

Muniz has gained international recognition for his distinctive approach of creating compositions using unconventional materials such as chocolate, sugar, garbage, diamonds, caviar, toys, junk, scrap metal, dry pigment, vintage postcards and even dust. His work often blurs the line between reality and representation, compelling viewers to question what they see. With numerous accolades and exhibitions in prestigious galleries and museums worldwide, Muniz continues to push boundaries, challenging conventional notions of materiality and visual representation. His work is included in major collections such as the Museum of Modern Art, New York; Solomon R. Guggenheim Museum, New York; Metropolitan Museum of Art, New York; Museum of Fine Arts, Boston; Art Institute of Chicago; Museum of Contemporary Art, Tokyo; Victoria and Albert Museum, London; and Tate, London.

Vik Muniz, Nude Descending Staircase, after Marcel Duchamp 2 (Surfaces), 2021

Read more: 6 Questions: Valentina Volchkova, Head of Pace Gallery, Geneva 

Vik Muniz: FOTOCUBISMO is the fourth solo exhibition presented at the Ben Brown Fine Arts gallery. The gallery opened in 2004 in the heart of Mayfair and positioned itself on the contemporary art scene, as well as becoming known for its exhibitions of 20th century artists. In 2009, they opened up a second gallery space in Hong Kong, with another in Palm Beach launching in 2021.

Vik Muniz: FOTOCUBISMO is on display until 26th May, 2023

Dinner at the ceremony for the Richard Mille Art Prize, against the spectacular backdrop of
Louvre Abu Dhabi

One of the art world’s most prestigious awards, the Richard Mille Art Prize in partnership with Louvre Abu Dhabi, was this year awarded to a female artist in the Gulf. Darius Sanai visited Louvre Abu Dhabi for the big event

Under a starlit sky by the edge of the Gulf, two celebrated dancers are performing classical ballet to Beethoven‘s Moonlight Sonata. Two long tables of guests-art collectors, government officials, artists and watch collectors- look on, mesmerised.

The performance is choreographed and led by Benjamin Millepied, the renowned director, dancer, and choreographer (including of the film, Black Swan), and husband of film star Natalie Portman. His accompanying danseuse is Caroline Osmont, of the Paris Opera Ballet. The dance is short, but beautiful. When I ask Millepied afterwards how it is to create and then perform a routine to the Moonlight, which was not written to be danced to, he simply smiles, and says, “I liked it!”

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Memorable as it was, the dance at the gala outdoor dinner was just a warm-up for the main act: the announcement of the winner of one of the most significant art prize in the world-and quite possibly the most financially rewarding: the Richard Mille, art prize in partnership with Louvre Abu Dhabi. Worth $60,000 to the winning artist, the Prize, awarded by the uber-luxury, high-tech watch brand, also sees it ten shortlisted regional candidates display that works at Louvre Abu Dhabi, the local iteration of the fabled, Paris museum, whose collection sweeps from ancient Persia to Cy Twombly.

Louvre Abu Dhabi, designed by Jean Nouvel

Louvre Abu Dhabi is the cornerstone of an impressive, new cultural district in the Emirate, which will soon house further significant museums, including a Guggenheim, and which is already home to the astonishing Abrahamic Family House, an interfaith complex, comprising a mosque, cathedral and synagogue (plus an education centre), devoted to the three major Abrahamic faiths and nurturing mutual understanding.

Earlier that day, we’d had a private tour of the new Louvre (which was closed to the public, as it is every Monday). The “Art Here, 2022” exhibition, housing, the shortlisted works, had pride of place in the museums Forum. The theme in this, the Prize’s second year, was “Icon. Iconic.“, a suitably art-world-gnomic concept allowing artists to exercise their full creative imaginations. Eight of the ten artists on the shortlist were female, and encouraging affirmation for women in these times.

Between Desert Seas, 2021, by Ayman Zedani

The first work is so complex it required several minutes to negotiate and understand. Ayman Zedani’s Between Desert Seas approaches you visually as white salt on an internal roof; and then aurally, as a soundtrack that you quickly realise, is about the plight of the Arabian Sea humpback whale. Listening for a couple of minutes, between whalesong, you learn that these non-migratory whales are a unique species, derived from a pod that became separated from the rest of whalekind around 70,000 years ago. They have developed the own song and culture – and they are under existential threat. Global warming has acidified and poison to the sea, and the removal of water for desalination has made it more toxic.

Wall House, 2022, by Vikram Divecha

Wall House, by Vikram Divecha, is a proposal by the artist to remove and retain the walls of hundreds of houses in the region that are slated for demolition, and preserve them to show a portrait of our times has created by the houses’ inhabitants. The idea is illustrated by a 1:100-scale maquette, showing what is a large scale installation of this project could look like.

There was Sidelines, a work by Saudi artist Manal AlDowayan, celebrating the intricate heritage of weaving in Saudi history, lost when oil money started flowing in the 20th century.

Sidelines, 2016, by Manal AlDowayan

Afra Al Dhaheri, an artist from Abu Dhabi, showed Weighing The Line, a striking workers, consisting of hanging ropes, pulled down by ropes on the ground-symbolising, in the artists’ words, social conditioning and constructs.

I was particularly struck by Xylophone, a work on pyro-engraved scrap wood by Elizabeth Dorazio, a Brazilian artist, now resident in Dubai. The artist said she wanted to make a statement that wood is a “vestige of excess extractavism”- and the work is quite beautiful and engaging.

UAE-born artist and academic Shaukha Al Mazrou created A Still Life of an Ever-Changing Crop Field, in glazing ceramic, inspired by crop circles, and “natures place in the world, invaded by human imprint”, one of the several environmentally inspired, works and beautiful as an installation.

Camouflage: The Fourth Pillar, 2022, by Zeinab Alhashemi

Perhaps the most visually arresting work, Break of the Atom and Vegetal Life (after Zeid), is by Abu Dhabi-based artist, Simrin Mehra-Agarwal. It is a complex work that appears on first sight to be a tapestry. It is, in fact, made of graphite, charcoal, ink, primer, plaster, gypsum powder, stucco, acrylic, gesso, glue, sand, fibreglass, vellum, Mylar and paper on wooden panels. The artist says it “questions nature and its various states of bloom and decay within the context of the histories of war or neglect, as well as the contemporary issue of climate change”. Powerful, complex, at first sight, it looked like a maelstrom of clouds viewed from a satellite.

Peter Harrison, CEO of Richard Mille EMEA,
and Manuel Rabaté, Director of Louvre
Abu Dhabi, present the 2022 Richard Mille Art Prize in partnership with Louvre Abu Dhabi to Rand Abdul Jabbar

Zeinab Alhashemi, an artist, based in Dubai, submitted the fourth pillar, from her camouflage series that featured at the celebrated DesertX AlUla. The pillar mimics the pillars at the gallery and, made of camel hides over metal rods, tones with the surrounding desert.

Standing by the ruins, the work of mosaic clay tiles by Dana Awartani, an artist based in Jeddah with Saudi and Palestinian roots, was visually striking on the lower floor. Awartani says she deliberately did not use the straw traditionally utilise in the region is tiles, thus allowing them to crack naturally overtime.

Installation view of Standing By the Ruins, 2022, by Dana Awartani

Next to this work was a long plinth on which was displayed 100 of exquisite, intricate little glazed stoneware figures. In a panoply of colours and sizes, earthly wonders, celestial beings, featured, plays, on jugs, cups, human, and natural figures, that related directly as a modern take on Mesopotamian stoneware, including some in the new recollection. The artist, Iraqi-born Rand Abdul Jabbar, is based in Abu Dhabi.

Dinner in stunning surroundings

One of the most valuable art prizes in the world (if not the most back valuable); eight out of ten artist, shortlisted female; powerful themes of environmental loss; significant pedigree from all the artists and support and an exhibition at a Louvre. Why isn’t the Richard Mille Prize even better known, I pondered, while on my way to the prize giving event that evening?

The ceremony, Benjamin Millepied and Caroline Osmont perform a
ballet choreographed by Millepied to Beethoven’s Moonlight Sonata

Perhaps because the Middle East and Gulf region is relatively new to the contemporary art scene (they’re not the ancient art scene, in which it predates the West by millennia); or perhaps, because the Western eye does not yet quite respect this part of the East and its culture as it should. In any case, credit to the powerful French brand, the Louvre and iconic Swiss brand Richard Mille for making it happen.

The evening after the dance and a performance by Dutch singer, Davina Michelle, the winner was announced: Rand Abdul Jabbar is Earthly Wonders, Celestial Beings. The artist was presented with the award and generous check.

Earthly Wonders, Celestial Beings, 2019-ongoing, by Rand Abdul Jabbar

“Rand Abdul Jabbar delivered outstanding works at push the boundaries of contemporary creativity,” said Peter Harrison, CEO of Richard Mille EMEA. “This is a celebration of our tenure partnership with Louvre, Abu Dhabi, and 10 incredible artist from the region, whose work was inspired by their cultural roots.”

Read more: Deutsche Bank: The Art Collection You Didn’t Know About

The originality, power and scope of a generation of artist, based in the Gulf that had been made clear. This is a region that is artistically, on fire.

Find out more: richardmille.com/louvre-abu-dhabi

This article was first published in the Spring/Summer 2023 issue of LUX

The Four Seasons, 2021, by Idris Khan, in the lobby of the Deutsche Bank Center, New York

With Preview Day of Frieze New York underway, Will Fenstermaker discovers a stunning and carefully curated selection of artworks, in a spectacular skyscraper in midtown Manhattan, courtesy of Deutsche Bank

On a warm Manhattan afternoon, the sun is shining in a way that it only shines in cities and canyons. For a moment, light reaches the lobby of the Deutsche Bank Center, two 55-storey skyscrapers occupying the entire west side of Columbus Circle in New York City. Inside, four coloured paintings seemed to come alive. They comprise a work called The Four Seasons by the London-based artist Idris Khan.

A landscaped terrace at the Deutsche Bank Center

Unbeknown to many, the Deutsche Bank Center is home to one of the world’s most substantial collections of contemporary photographs and works on paper. Deutsche Bank began collecting art in the late 1970s with a small idea, one that would prove radical in the context of corporate collections: works on paper could be made viewable to all, not siloed away in storage or senior executives’ offices. In 1978, the bank arranged its first display in its New York offices, and in 1986 it opened its new global headquarters in Frankfurt’s Twin Towers with each of the buildings’ 60 floors dedicated to a single artist.

Ten Portraits of Jews of the Twentieth Century by Andy Warhol at the Deutsche Bank Centre in New York

At the time, the collection consisted mostly of work made by German artists (Deutsche Bank owns a particularly significant watercolour from Sigmar Polke’s early Capitalist Realism period, for example, and a vibrant pencil drawing made by AR Penck while the artist was living in the German Democratic Republic). Today, Deutsche Bank’s collection consists of tens of thousands of works of art, representing cultures from around the world, and displayed across 900 offices. “Portrait of a Collection”, in Deutsche Bank’s Columbus Circle building, charts the evolution and expansion of the New York collection. “Diversity is a truly important topic at Deutsche Bank,” says Britta Färber, Global Head of Art. Färber says works in the collection by Abstract Expressionist artists Eva Hesse, Lee Krasner and Joan Mitchell are “as groundbreaking as those of their male counterparts.” They underscore the impact of women artists on the movement.

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While Deutsche Bank has no special remit to collect work by women artists, its attention to them over the decades is impressive. Wangechi Mutu, the subject of a recent retrospective at the New Museum and a 2019 façade commission at The Metropolitan Museum of Art, earned early support as a Deutsche Bank Artist of the Year in 2010. Alongside the major works by female Abstract Expressionists, the bank’s US collection contains major works by influential photographers such as Candida Höfer and Carrie Mae Weems, and contemporary artists such as Amy Sillman and Betty Woodman. In fact, Färber says that 80 per cent of recent acquisitions are works by women artists.

Works by Imi Knoebel (left) and Fei Lai Feng by Thomas Struth (right) in the collection at the Deutsche Bank Center, New York

For the prestigious Deutsche Bank Artists of the Year programme, a team of external art experts, including renowned curators Hou Hanru, Udo Kittelmann and Victoria Noorthoorn, propose key artists to a senior committee within the bank. It leads to an appreciation for art and community that is threaded throughout the organisation. More recent acquisitions include a triptych by John Akomfrah, a British artist of Ghanian descent and the son of anticolonial activists, and a group of works by Paris-based Canadian artist Kapwani Kiwanga, whose work explores the impact of colonialism on Canada’s First Nations. Both artists will represent their home countries at the 2024 Venice Biennale.

Four Panels from Untitled 1972, by Jasper Johns at the Deutsche Bank Centre in New York

“It is an honour to have work in a collection as expertly curated, well regarded and diligently cared for as the Deutsche Bank collection,” says artist Erin O’Keefe. In 2022, the bank commissioned O’Keefe as its Lounge Artist at Frieze New York – a fair it has supported international presence is a real benefit,” O’Keefe continues. “It allows the work to be introduced to audiences beyond the regional art worlds.” In New York, works by Kandis Williams, Haegue Yang, Moshekwa Langa, Jose Dávila and ruby onyinyechi amanze provide a refreshingly global outlook on contemporary artistic production. “Because I developed a personal relationship with many of Deutsche Bank’s representatives, it didn’t feel like I was joining a significant corporate collection,” says amanze, who is happy to see her work contextualised in the company of such significant works on paper.

Works including ruby onyinyechi amanze’s Without a care in the galaxy, we danced on galaxies (or red sand with that different kind of sky) with ghosts of your fatherland keeping watch (left)

An immense composite photograph of the Shilin Night Market in Taiwan by photographer Jeff Chien-Hsing Liao belongs to a series “exploring the complex cultural conditions of countries that are heavily influenced by modern colonisation and the ongoing impact of globalised immigrant labour,” says the artist. Some might find it surprising that work so critical of capital is in the collection of a global corporation, but Deutsche Bank believes that its collection strengthens the firm’s commitment to funding positive impact.

The Oratory Command: X Carmichael King Hampton by Kandis Williams (left) and Untitled 2015 by Kay Hassan (right) at the Deutsche Bank Centre, New York

Read more: Sophie Neuendorf’s Guide to Starting an Art Collection

Back downstairs, art including The Four Seasons is an expression of Deutsche Bank’s broader ambition to support sustainable initiatives. “The art in the lobby ties the since it was founded in London 20 years ago, including through its annual Los Angeles Film Award and Emerging Curators Fellowship. “The fact that the collection has an Deutsche Bank Center to the original design approach for our space,” says James Dyson, Director of Global Real Estate for the Americas.

Faces of Infinity (Unfinished) by Charles Avery in the collection at the Deutsche Bank Centre, New York

When Deutsche Bank began planning the project, it hired Gensler to design the workspace. In June 2022, the project achieved LEED Gold certification, marking a significant advancement in Deutsche Bank’s goal of reaching net zero by 2050.

Jewel Glow – Trustworthy #248 by Haegue Yang in the collection at the Deutsche Bank Center, New York

Deutsche Bank’s space consumes half the energy of its previous headquarters and 100% of its CO2 emissions are compensated via renewable sources. That sits well alongside the energy of its art.

Find out more: art.db.com

This article was first published in the Spring/Summer 2023 issue of LUX

The Dorchester London’s iconic Promenade’s revamp

Christopher Cowdray is the Company President of the Dorchester Collection. Here he speaks to Darius Sanai about the iconic London hotel’s latest renovations and maintaining brand identity in the process of modernisation

Christopher Cowdray

LUX: Can you tell us about the renovations over the last 18 months at the Dorchester London?
Christopher Cowdray: The Dorchester last had a major re-fit in 1989. It gets to a point where you really need to go behind all the walls and change all the pipes and make sure it’s ready for purpose. That’s what we’ve been doing: we remodelled the ground floors, the bar and the promenade, the Vesper Bar, and all the front entrance, while always ensuring we retain the hotel’s identity. What happens a lot in luxury hotels is that people will come in and rip everything out and modernise it without keeping the essence of what the hotels are.

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We are also redoing all the guest rooms. At the moment, the first and the second floor are about to be finished and will be ready for bookings in the next two or three weeks. They have been designed by Rochon from Paris who has done the ground floor as well. Martin Brudnizki did the Vesper Bar and will continue designing more in the upper part of the hotel. The final renovation will be the rooftop where we are going to create a new restaurant. During the pandemic when we weren’t allowed to entertain inside the outdoor seating area upstairs became so popular and got such great feedback, so we are creating a permanent fixture there and then extending the top floor. We are really restoring the Dorchester back to its rightful place as one of London’s leading, if not leading Hotel.

The Liberace piano in the Promenade

LUX: Are you worried by new competition in the market, for instance, Peninsula and the Rosewood coming soon?
CC: With any competition coming in, it actually ends up bringing more business into the city. It’s the same with Rome; there’s a lot of competition coming into Rome, and what it does is bring a lot more awareness to the city. One has to be aware of competition, of course, and when you are at the top of the market you want to make sure you are doing everything to remain there. A lot of this comes down to service levels. I think what the Dorchester has to its advantage is incredible service, location, and history. It has a significant history in the city, and we have an amazing staff. It takes time to build your staff and your reputation.

LUX: You mentioned you didn’t rip everything out and make it completely different. Is that decision dictated by the nature of the property? For example, would you avoid doing that at the Plaza Athénée, but consider creating super modern interiors in new builds?
CC: Yes, in a new build it’s different, but it has to be authentic to the area that we are in. For example, in Dubai we have a Norman Foster building. It has a lot of glass with light coming in, overlooking a beautiful marine area. It was trying to decide what the right interior for that would be, and Dubai today is a very vibrant progressive modern society. So how do we create a luxury and comfortable interior in this modern building? It’s not minimalistic but it is light, and it has modern undertones to it.

La Cour Jardin at Hotel Plaza Athénée

LUX: If somebody had been a guest of Le Meurice and they walked into The Lana without knowing it was part of the collection, is the intention that they would realise it is a Dorchester Hotel, or is it more subliminal?
CC: It’s subliminal. They will know from a marketing point of view that it is, and they will receive the top quality welcome and service, but the interiors are very much about the building and the relevance to that building.

The latest hotel in the Dorchester Collection is The Lana which will be unveiled in 2023 in Dubai

LUX: Is there a tension now between the young generation of the very wealthy who have very eclectic tastes, and an older, more conservative generation?
CC: We are finding that the younger generation like more traditional interiors as well as more modern ones. A good example is probably Le Meurice in Paris. It’s a younger generation going there at the moment, with the Belle Etoile nearby. At the Plaza Athénée you’ve got a bit of Art Deco and you’ve also got tradition, so there are people who love Art Deco and people who love tradition, but they still love the Plaza overall. Some people have certain tastes and I think as we go forward it’s about how to make sure that there’s room for everyone to be comfortable and to appeal to a wider audience.

LUX: What does a luxury group like yours need to do now that it didn’t have to do ten or fifteen years ago in terms of its experience and offering?
CC: The experience side of it is important and, I suppose, more relevant to some travellers, but the underlying essence of ultra-luxury comes down to the investment that you put into the property. The sub-furnishings and the whole design must be of high integrity. Then it’s about the service, it’s about the recognition, it’s about the efficiency of the service, it’s about the atmosphere and the friendliness, and so a lot of it revolves around the people.

Coworth Park in Ascot

In other cases, it’s location. I see hotels being built today, even in cities like London, with the intention that they will become wonderful luxurious hotels and attract the luxury traveller. But that doesn’t end up being the case because your luxury traveller wants to be at the heart of where things are happening. They don’t want to be 5 or 10 minutes away; they want to be able to go down to the shops or the cinema right away.

LUX: You have celebrated restaurants in your hotels with many Michelin stars. Is it all about getting the Alain Ducasse and the 3 stars, or is this changing?
CC: The dining experience is very important. It’s about creating excitement for the hotel. It’s not only about appealing to the international traveller, but also very much about how you appeal to the local community. You want the hotel to be a part of that local community, you want them to come in and experience it and then talk about it, so the food and beverage and the restaurant are very important. We are very fortunate here to have Alain Ducasse – he’s been here since 2005 when we opened and has been very successful. He used to be at the Plaza Athénée, but then we brought in Jean-Philippe Blondet, a young chef.

Hotel Eden’s Il Giardino Ristorante in Rome

With food and beverage, we did well with Alain, but there wasn’t always that excitement there. Today, food and beverage and the restaurants are doing exceptionally well because there’s just so much excitement around the energy that Jean has brought to the hotel. There are the people who really love to go to your fine, gourmet, 3-star Michelin restaurants, but there’s also a lot of people who just love food and want to try upcoming chefs and different cuisines. That’s no longer about French cuisine, it’s about the influences of Asia, influences from the Middle East, influences from anywhere. Food is so important today and people just love trying different experiences.

The Eiffel’s Suite signature dinner at Hotel Plaza Athénée

LUX: And what about the more casual F&B type of experience?
CC: Bars are doing very well on the promenade, and we’ve introduced a lighter menu there. Afternoon tea is always going to be incredibly popular for us; it’s not about heavy meals. There is definitely an emergence of clubs, and I’m not too sure where that’s going to go at the moment because there are so many clubs opening up, particularly in London. People are paying for a membership to be part of it, but at the end of the day it’s just another restaurant and you are really paying for a formal degree of recognition.

The Dorchester London’s new Artists Bar

LUX: How do art and artists come into the renovated Dorchester?
CC: At the Dorchester specifically, we’ve got the artists’ bar which is new. The Vesper Bar is completely new and very popular so I think you will start to see more and more happening there.
45 Park Lane has a very strong following from the art community. They have an artist circle there which was started when we opened in 2011. Different artists did different floors: Peter Blake did the penthouse and Damien Hirst did the ground floor, and they always retain their connection. Of course, we have all the exhibitions there, so it’s been very successful, and it continues to be. With the renovation we spent a lot of time selecting the right art to be featured. It’s about what art is relevant.

Art is becoming very important to us. We’ve had some great exhibitions in Los Angeles – the Warhol was phenomenally successful. In Paris, there’s the association with Museums and tours going on, and we are doing a lot of work there at the Plaza Athénée.

The Dorchester London’s Vesper Bar

LUX: The Dorchester collection has not expanded at the pace of some of the Luxury groups. Is that deliberate on your side?
CC: Very much so. Any hotel we add to the company has to be relevant. For a lot of hotel groups, expansion is just about putting their name on something. But we value our reputation, how we can retain our reputation and deliver on our promises. There’s not a need for us to expand at a tremendous rate. We want to expand, but it’s much more about finding the right hotels to complement the existing brand.

For instance, Dubai is at the heart of what is going on in the Middle East. We found a wonderful property there, not on the beach, but on the Marina, and it’s going to very much appeal to our travellers from around the world. In Tokyo we have the Torch Tower, which is under construction at the moment, but is going to sit at the top of the tallest building in Japan. This will be a great compliment to the company because the Japanese market is very important to us, and the American market going there is important.

Foster and Partners were challenged to create a building for the Lana that would stand out in a city known for it’s skyline

LUX: Are there any cities where you wish you had a property?
CC: We would love to be in Hong Kong, Singapore, Beijing, Shanghai, Sydney and New York. We used to have a property in New York, the New York Palace, but we sold that because it was a 900-room hotel and although it had a wonderful location, we just felt it wasn’t relevant enough to the company. It came into the company by default, and we thought it was too big and in need of phenomenal renovation. We haven’t found what we want in New York yet. It’s a very challenging market, but we’re getting there.

LUX: How has your guest profile changed over the years in terms of age and demographics?
CC: Guests are definitely getting younger. They used to always be in their fifties and sixties, but now we are certainly seeing very young people in their thirties and younger. We see people from the technology world in particular, who are usually young people who can afford to travel and want to experience the finest.

In terms of origin, America is very important to us, as is the Middle East and Europe, so we are not reliant on one market. Asia is only just recovering so the vulnerable pandemic. Asia was a growing market for us, but then completely dried up over the pandemic. Now it’s coming back slowly. I think it will take a little while to recover.

The Penthouse terrace at 45 Park Lane

LUX: You’ve been here since 2004 at this property as CEO, and have just been appointed Company President. It’s been an evolution rather than a revolution. Have you ever felt like you want to experiment and go wild and create something, do something completely different?
CC: No, I’ve never wanted to do that. We had a very clear vision from the outset, and we knew that we were never going to grow fast, but that we had to stay relevant. It’s been an incredibly busy 15 years, with the hotels going from five to where we are now, because during that period of time we not only added hotels but have also done very significant renovations in all of them. It’s a fascinating and exciting part of my job, but it’s also very time-consuming.

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LUX: There are a number of luxury hotel brands that have become very big on branded residences, which you are doing in Dubai. Is this a main pillar of your plan?
CC: It’s not a main pillar, but it is a positive edition to the brand. Mayfair Park residences, which is attached to 45 Park Lane, has brought a new facility and a new market to the hotel. People who stay there also want to use the facilities and go to the restaurants. Then in Dubai, the Lana residences will open at the end of this year, and we’ve got various other ones coming up. The individuals who are buying these apartments are also becoming guests in the hotel, so it is creating a very strong market for us. The service that they are receiving is of a standard that meets and exceeds their expectations, and therefore they now feel that they are part of the Dorchester “club” – though it’s not a club, as such.

Find out more more: www.dorchestercollection.com