The Club Dauphin pool at the Grand-Hotel

In the first of our four part luxury travel views column from our Autumn 2021 issue, LUX Editor-in-Chief Darius Sanai experiences a taste of old world glamour at Four Seasons Grand-Hôtel du Cap-Ferrat

Cicadas trilling down a long avenue lined with high walls, behind which some of the world’s most expensive real estate lurks. Glimpses of the Mediterranean through the hedges. A security-guarded gateway, a short driveway and doormen opening doors on either side at the entrance to a Belle Époque mansion.

Arrival at the Four Seasons Grand-Hôtel du Cap-Ferrat could barely be more grand. You are in an unchanged south of France of 1920s flapper legend. Not here the camper vans, beach-going day-trippers and crowds of normal people that besmirch even the swankiest Monaco boulevard. Cap Ferrat is a place where the rich can be rich, and the Grand is the sea-facing jewel at its tip. High ceilings, light marble, big windows: first impressions are of a Parisian palace hotel transplanted and reworked to suit the setting, rather than anything like a resort. But wait, that comes later.

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Our room was light, a bedroom connecting through sliding doors to a living area with a taupe sofa, white and light grey colourways everywhere. Open the window (there was no balcony) and lavender and thyme and the sound of the cicadas pour in in one sensual flow.

The gardens and Le Cap. Image by Darius Sanai

Down through the palatial lobby, out of the door at the top of the staircase at the back of the building (or is at the front?), and down towards the gardens, it’s as if you are descending through layers of formality into total chillout.

Read more: Art Basel Miami Beach is Back and it’s Buzzing

The terrace of Le Cap restaurant is on the first layer of terrace, shaded by mature trees. Next layer down is a casual dining terrace and the bar where a rather good jazz band played under the canopy of the trees every evening. Carry on walking across the big lawn of the hotel and you can take various paths into a labyrinth of flower beds and trees – quite an indulgence in the place with the highest residential real estate price in the world. The gardens are on a gentle slope down towards the sea, and at night the combination of starlight, the bouquet from the plants and the sound of the jazz is intoxicating, even without a champagne cocktail.

The entrance hall

Directly across a little road from outside the back gate at the bottom of the garden is the entrance to Club Dauphin, the hotel’s beach club (local people can also join as members). You can take a funicular down the steep hillside that descends towards the sea, or walk down along the flower-lined path. You’re then presented with the club restaurant and swimming pool, at the very tip of the Cap. It seems that there is sea for 270 degrees around you, and what isn’t sea is either swimming pool, or a terrace where very expensive people are nibbling tiny amounts of vibrant food and being served out of magnums of Provençal rosé wine.

Here, the palace hotel you are staying in feels a long way away, and you have reached the pinnacle of informal chic as epitomised by somewhere like St Bart’s – or indeed, the Grand-Hôtel du Cap-Ferrat.

Lunch at Club Dauphin and dinner at Le Cap seems to be standard practice at the Grand – preceded in our case by an aperitif next to the jazz band, our bench seat offering a gorgeous view across the lawns and trees to the sea. The food is a kind of ultra-superior Provençal: razor clams and cockles with seaweed and fennel bavaroise; grilled asparagus in thyme jelly; and a particular favourite, grilled red mullet with olive tapenade, tomato hearts and basil, fish and tomato reduction. The only thing that was missing was David Niven chatting to Audrey Hepburn at the next table.

Book your stay: fourseasons.com/capferrat

This article was originally published in the Autumn 2021 issue. 

Chelsea Barracks, with spatial layout and interior design by Elicyon. Photo Michael Sinclair

An architect by training and an interior designer by trade, Charu Gandhi cites her multicultural upbringing as the source of her fascination with people and how they occupy space. To translate her design language to others, she founded design studio Elicyon in 2014, and has since completed super prime luxury residential projects in New York, Dubai, Shanghai, and London – to name just a few. Here, Gandhi speaks to LUX Contributing Editor, Samantha Welsh, about the importance of finding fluidity between disciplines and cultures, and her optimism about the future of women in design

Charu Gandhi

1. What are Elicyon’s chief design principles?

At Elicyon, we are led both by how space is used and a fine attention to detail. We also focus on how those can be executed differently for each project. Often you can walk into a project and know how the home would work best for the client. I have a strong spatial understanding that helps to guide the design scheme. What we aim to do is to make our clients fall in love with design, and embark on the journey of learning about materiality and craftsmanship when they work with us.

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2. What questions do you ask when considering the design brief for a super prime residential scheme?

We have an extensive briefing process that’s about getting to know the client. We ask how each room is used differently by family members and at what times of the day. Designing a home is often about evoking a feeling: I always ask clients to think about a time they really enjoyed themselves – be it an experience in a restaurant or a holiday destination – and what they loved about it. They might remember that they loved the linen on a hotel bed, the details of a ceiling in their favourite restaurant or even the size of the bedside tables in a hotel room.

41-43 Beaufort Gardens, designed by Elicyon. Photo Michael Sinclair

3. How does Elicyon deliver projects globally?

We’ve delivered projects in every continent, and what it really comes down to is great planning. It’s paramount to understand the logistics of a project thoroughly, and often working with a strong local team has proved invaluable. They act as our eyes and ears on the ground. For each new location, we do a recce to understand the particularities, culture and to be familiar with the buildability (seeing what is physically possible to build locally).

Having worked internationally for many years, we have built up a solid black book of partners that we can rely on, from transport companies to logistics managers, the majority of which are based in London but have global reach.

Read more: Molori Designs Founder Kirk Lazarus on Ultra Bespoke Luxury

4. How did this cross-cultural appeal come about?

Having an international client base naturally means we are asked to help on projects in many different continents – we might start with their London home, and end up designing their homes in Dubai, LA and Shanghai too. It’s a reflection of how multicultural London is as a design centre.

Ultimately, however, it comes down to my upbringing. I have travelled extensively since an early age and was educated at an international school, so my school friends live in all parts of the world. I also have an innate interest in people and how they live and occupy spaces.

Chelsea Barracks, with spatial layout and interior design by Elicyon. Photo Michael Sinclair

5. What during your training most inspired your vision as an architect and designer?

My first year at the Architectural Association was my most formative year, led by a brilliant teacher, Julia Wood, who passed away too young some years after. She turned the notion of architecture on its head – and we explored concepts through dance, through sculpture and the human body, and she introduced us to a myriad of conceptual artists of the time. I remember being particularly struck by Rachel Whiteread’s work.

6. What do you think has changed for women in architecture in recent years?

There is no better time to be a woman in architecture: the playing field, from a London-centric view, is full of great women designers, thanks to groundbreakers like Zaha Hadid who cracked the mould. Nevertheless, there are worrying statistics of those who graduate as architects versus those still in the role 10 years on. In my mind, the UK needs to fix its childcare challenges, and only then will the female-led architecture and design ecosystem thrive.

I know the Royal Institute of British Architects (RIBA) and Architects Registration Board (ARB) have task forces working on it, and that I too have a responsibility as a leader to grow and build female teams.  I am proud to say that at Elicyon our senior leadership team is entirely female. As an industry, however, we must endeavour to always do better.

Find out more: Elicyon.com

© The artist, courtesy of the artist and Gagosian. Photo Mike Bruce.

In the mid 1960s, Michael Craig Martin emerged as a key figure in early British conceptual art, later becoming the teacher of many of the YBAs such as Damien Hirst and Sarah Lucas. Today, he is one of the world’s most prominent artists, known for his brightly coloured paintings and sculptures of everyday objects. Millie Walton speaks with him about colour, style and listening to his own advice

1. By focusing on everyday objects, are you searching for a kind of universality?

Everyday objects do seem to me to offer a path to understanding the universal. By making drawings of as many objects as I can, one by one, I have tried to implicitly account for everything. I have discounted all the hierarchies by which we normally categorise things: size, use, materials, social importance, aesthetic quality, monetary value, moral worth, etc. I draw everything the same way, each with equal care and attention – a democracy of images.

2. Do you recreate the objects from memory or are they drawn from life?

I never draw from memory, only from the observation of an individual object.

3. Are the objects you use as subjects artworks in themselves?

With a few exceptions, such as Duchamp’s urinal or Magritte’s pipe, the objects I draw are not artworks. My drawings of them are.

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4. You’ve said before that incorporating colour into your work was a breakthrough moment. How so?

I discovered that I could unsettle the familiarity of the drawing of an object by introducing non-naturalistic, wayward, intense colour. The drawing is logical, general, bland, familiar; the colour instinctive, specific, vivid, unexpected. This confrontation gave my work a new visual impact and emotional intensity.

5. In aiming for what you’ve termed ‘no style’, you have created a style that is now widely recognised as yours. Has this changed your attitude towards what style means?

Yes. I used to look on style as a kind of self-conscious ‘arty’ signature. Now, I see that it can be the manifestation of the essential characteristics of one’s visual language.

6. Did teaching art at Goldsmiths College affect your own practice?

Yes, because, at best, I saw my teaching as virtually an extension of my practice. One thing I discovered was to always listen to the advice I was giving my students, as it was often the advice I wished to hear myself, but couldn’t do so directly.

Michael Craig Martin, Oxford Street Installation. © The artist, courtesy of the artist and Gagosian. Photo Mike Bruce.

7. How do you decide what to create next?

My work is a continuum. I work on many things at the same time. One thing leads to another. Work comes from work.

8. Is it important for you to be surrounded by your own artworks?

It’s not important, but I am happy, these days, to have some works hanging in my own apartment. In general, I quickly lose interest in a work I’ve just completed because I’m working on something else. I don’t like having much finished work in the studio, but I often do. Unexpectedly coming across something you did years ago, and have forgotten, can be very rewarding.

9. Are you interested in exploring more digital tools within your practice?

I have done quite a lot of digital work over the years, the first in 2000, I think. I develop all my work on a computer and what I do is well suited to digital productions. There are things one can do digitally involving change and movement that other mediums don’t allow.

Michael Craig Martin, Bulb (red), 2011 © The artist, courtesy of the artist and Gagosian. Photo Mike Bruce.

10. Do you create commissioned work?

I always consider commissions. Some I accept, some I don’t. It’s interesting to consider something you wouldn’t have thought of yourself.

11. What led you to transform your drawings into transparent sculptures?

Two-dimensional images normally need a material ‘ground’ (paper, canvas, screen and so on) to exist at all. Making my drawings out of steel means they can be self-supporting and therefore dispense with the need for a ‘ground’, thus appearing transparent.

12. Are your works intended to provoke a particular reaction in the viewer?

I try to make work that catches the eye and the imagination of as many viewers as possible. I never seek a particular reaction, but try to provide the provocation for individual, personal speculation.

This article was originally published in the Autumn/Winter 2021 issue.

Galerie Nagel Draxler’s booth at Art Basel Miami Beach

After the scaled-back events of last year, Art Basel is back and it’s bigger than ever with 250 galleries from over 36 countries. Our columnist Sophie Neundorf reports from Miami

Sophie Neuendorf

The vibe was fantastic, full of joie de vivre, as collectors descended on Miami to celebrate the comeback of the Art Basel Miami Beach. On the opening day, there were many joyful reunions between friends, collectors, and gallerists seen and heard around the booths and despite timed entry due to Covid regulations, most of the stellar works sold out instantly.

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According to collectors, advisers and dealers, sales are similarly soaring at neighbouring fairs Nada and Untitled. It’s not so much a case of if to buy, but how to get there first. Who will get take home a much coveted painting by Amoako Boafo? Or the Genesis Tramaine being sold at Almine Rech? Or the Flora Yukhnovich work at Victoria Miro? It’s quite the dilemma for galleries that want to reward loyal clients, place works with museums, and grow new audiences at the same time, all while steering clear of speculators, but c’est la vie!

Saint Laurent Rive Droite’s beachfront gallery features an exhibition of works by an exhibition of works by Japanese artist Sho Shibuya

NFTs are, unsurprisingly, taking centre stage with multiple galleries showcasing digital offerings. Galerie Nagel Draxler is devoting much of its booth to a show-stopping group installation of tokenised multimedia works led by artist and maverick collector Kenny Schachter while a few aisles over, Pace is taking a somewhat softer approach with its presentation of Block Universe (2021), a collaborative work by Drift and D.J./crypto-artist Don Diablo. This year, there’s also a booth and three-day series of live talks dedicated to Tezos, an open-source, energy-efficient blockchain network where scores of recognised media artists have tokenised their works over the years. The centrepiece of the booth is a multiscreen installation that allows visitors to add their algorithmically distorted self-portrait to works by generative artist Mario Klingemann (AKA Quasimondo), then mint the results as NFTs on the Tezos blockchain.

Read more: Pioneering Artist Michael Craig Martin on Colour & Style

Among the many impressive events taking place this weekend, my highlight is Saint Laurent Rive Droite’s ephemeral gallery in the centre of the city (until December 5, 2021). Inside the space—a pink-and-red cube set on the beach, practically glowing against the backdrop of ocean and sky—there’s an exhibition of works by Japanese artist Sho Shibuya, commissioned by Saint Laurent’s visionary Creative Director Anthony Vaccarello. Shibuya has recently gained widespread attention for his series of daily paintings, Sunrise from a Small Window, created in his Brooklyn apartment over the last 22 months. Using the front page of The New York Times as a canvas, the artist has been ritualistically painting over the front-page stories with the hues of each morning’s sunrise, covering the often down-trodden news with an ever-changing symbol of revival and hope. It’s well worth seeing.

Michael Kagan, APOLLO 2021 (2021). Photo courtesy of the artist and Half Gallery.

Meanwhile, one of the stranger sights in Miami this week is an Apollo space capsule floating in Biscayne Bay as if just returned home from a lunar voyage. This isn’t, however, some wormhole into the heyday of the U.S. Space program, but an art project from artist Michael Kagan and New York’s Half Gallery. It’s no coincidence that Yusaku Maezawa, the Japanese billionaire art collector who promised to take a group of artists with him to the moon aboard one of Elon Musk’s SpaceX rockets, is one of the artist’s collectors. Kagan is clearly angling for a seat.

And then, of course, there are the parties. White Cube’s bash at Soho Beach House, which featured a performance from Sister Sledge and a lot of dancing, is the most talked about so far, but with a few days to go, there’s plenty of more time for partying.

To me, it feels very nearly like the good old days, but with the added edge of NFTs and groups of eager millennial collectors (musician Joe Jonas and Bachelor contestant Kit Keenan have been spotted milling around) with a healthy appetite for emerging stars and an even larger one for big name artists and galleries.

Sophie Neuendorf is Vice-President at artnet. Find out more: artnet.com

Todd Gray, Sumptuous Memories of Plundering Kings, 2021. Courtesy the artist and David Lewis.

Magali Arriola

As Art Basel Miami Beach returns for its first in-person iteration since 2019 this week, so does Meridians, the only large-scale project space at the fair. Showcasing 16 larger-than-life works by a roster of international artists which challenge class, race, and power structures, Meridians reimagines the constraints of the traditional art fair format. Ahead of its opening, curator Magalí Arriola (also Director of Museo Tamayo, Mexico City) speaks to LUX about her curation process and how large-scale art is as much a question of temporality as spatiality

1. Tell us about your curation process for Meridians. How did you go about selecting the artists and artworks?

There was a long process of selection behind Meridians. As its curator, I did a lot of reaching out to the galleries and then worked closely with a committee to do the final selection. This year, however, felt a little different from 2019 since, because of the lockdown, many artists didn’t meet the conditions to produce large-scale works.

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2. What new opportunity does Meridians seek to present artists?

Just like the 2019 iteration, this second instalment provides galleries with a unique opportunity to present ambitious art projects that go beyond the limits of the conventional art fair layout.

Jacqueline de Jong, De achterkant van het bestaan (The backside of existence, 1992). Courtesy Pippy Houldsworth Gallery

3. How do you think experiencing art through a large-scale format affects our relationship with the pieces?

I don’t think scale changes the way we experience art, nor the quality of that experience. I’d like to think that what a sector such as Meridians does is allow us to revisit the notion of scale not only in terms of space but, as some of the works we’re presenting are time-based pieces like video and performance, also in terms of time.

Read more: Legendary Designer Christian Louboutin on Passion & Solidarity

4. Meridians combines the work of emerging and established artists. Why is this hybridity important to you?

Forming a dialogue between emerging and established artists is something that has always been important to me, as it demonstrates that many of the challenges we’re facing today are old challenges that we haven’t resolved. This intergenerational crisscrossing points to the different processes and strategies used by artists for an examination of contemporary thought and experience, as they engage many of the concerns that impact our society and undoubtedly contribute to reassess our current realities.

Yinka Shonibare CBE, Moving Up, 2021 © Yinka Shonibare CBE 2021. Courtesy the artist and James Cohan, New York. Photo by Stephen White & Co.

5. Many of the works in Meridians challenge class, race, and power structures. Which single piece challenged you most and why?

Maxwell Alexandre’s work stands out as a piece that reflects on racial representation and social conflict. He is presenting a new painting from ‘Pardo é Papel’, a series that dates back to 2017. It originates from a group of self-portraits that the artist created on brown kraft paper, referencing its early use by Brazil’s administration to generate birth certificates and identity cards for Black people as a way to veil their skin colour. In his practice, Alexandre depicts daily life in Rio de Janeiro’s Rocinha, one of the largest favelas in Brazil, seeking to empower his country’s population and resist discrimination.

6. This December marks the first in-person edition of Art Basel Miami Beach since 2019. In what ways do you expect the fair to have evolved since then?

I don’t expect Art Basel Miami Beach to have evolved; I think it is we, as people, who will hopefully have changed, having had the opportunity these whole two years to reflect on many of the social challenges that the globalised world faced during 2020. This, I hope, might have led us to develop a larger and stronger sense of community.

Find out more: artbasel.com

Legendary shoe designer Christian Louboutin. Copyright and courtesy Christian Louboutin

Superstar shoe designer Christian Louboutin, whose signature red-soled pumps with vertiginous stiletto heels are the de facto shows for glamourwear, has dominated luxury footwear since the nineties. Harriet Quick speaks to him about his long career, his charity work with actor Idris Elba, Kate Moss and sailing down the Nile

Good ideas take time to mature and, when entwined with hope and empathy, they can flourish. Such was the situation when Christian Louboutin picked up the phone to his friend, the actor Idris Elba, after the tragic murder of George Floyd in May 2020. Both were in deep shock, amplified by the isolation of lockdown, and wanted to do something, to take action. Louboutin, remembering his friend enjoyed sketching designs for shoes, proposed a philanthropic venture: Walk a Mile in My Shoes. In essence, a capsule collection of shoes with 100 per cent of the profits going to benefit charities fighting oppression and advancing racial justice, equal rights and access.

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Elba immediately said yes and proposed the idea to his wife Sabrina on her birthday. She was over the moon. “Not to act, to remain silent was not an option – I knew this in my heart,” says Louboutin. “We decided that if there is a message – it has to be optimistic. I don’t want to emphasise the toughness of reality and we picked organisations that are proactive. We want to show that we can all do better and drive optimism,” says Louboutin.

The 1988SL high-top sneaker designed by Idris Elba from the Walk a Mile in My Shoes collection. Copyright and courtesy Christian Louboutin. Image by Julien Vallon

The friends got to work choosing designs for the collection, which was launched in June 2021. It includes the 1988SL sneaker designed by Idris, a suede calfskin pump with the Walk a Mile message embroidered in signature Louboutin red on the upper, and a birds-of-paradise print skate shoe and stiletto. The phrase was chosen by Elba and references Kim Abeles’s 2014 public artwork dedicated to Martin Luther King in Los Angeles. “I wanted to make sure the styles were already in my collection, as this is about giving money to people and not using funds for design and research. Sabrina really drove the charity side, choosing organisations that have a positive impact,” says Louboutin of the beneficiaries, including the Somali Hope Foundation, Purposeful in Sierra Leone, which supports marginalised young women, Gathering for Justice in the US founded by Harry Belafonte, the Be Rose International Foundation’s work in Sierra Leone, and Immediate Theatre in east London.

Read more: Emilie Pastor & Sybille Rochat on Nurturing Artistic Talent

The scale and scope of the initiative is impressive and inspiring. While charitable products often fall short on desirability, here is a collection that one would be proud to wear, as it is infused with the wit, optimism and elegance that is part of Louboutin’s DNA. The French Egyptian designer, now 58, has always been driven by passion coupled with a deep knowledge and expertise in his craft. Louboutin became fascinated with shoes in the mid-seventies. A visit to the Musée national des Arts d’Afrique et d’Oceanie on the Avenue Daumesnil in Paris was a turning point. It was there that he saw a sign from Africa forbidding women wearing stilettoes from entering a building for fear of damage to the wood flooring. Louboutin was enraptured by the poster image of a stiletto and set out to create designs that made women feel empowered and not embarrassed or compromised. “I could not believe the elegance of these shoes and became obsessed with them,” he remembers.

Small tote bag from the Walk a Mile in My Shoes collection. Copyright and courtesy Christian Louboutin.

With no formal training, Louboutin learned by sketching and by studying the craft until he was hired by Charles Jourdan and, later, the highly inventive shoe maestro, Roger Vivier. By 1991, Louboutin had opened his first store in the Galerie Véro-Dodat and went on to sell internationally, building fame and fortune around his bestselling black patent, red-soled stilettoes that rose to 120mm and showed off ‘toe cleavage’. Indeed, it was Louboutin who became one of the first superstar shoe designers building a brand that became associated with fetish and fantasy. He has been to court on numerous occasions to protect the trademark red sole that over the decades has been widely copied. To balance and dance gracefully on these leg-lengthening, needle-thin points was, and still is, considered the quintessence of chic, a triumph of style over the quotidian. Like Manolo Blahnik, Guiseppe Zanotti and Vivier, Louboutin excelled in making the shoe an object of wonder. “My wardrobe is brimming with Louboutins,” Kate Moss told Vogue in 2014. “The classic Pigalle stiletto in patent or matt-black leather is my go-to shoe. I have so many pairs that Christian designed a style with a sharper point and nail-thin heel which he named the So Kate.”

Louboutin’s reworked Double L sandal for the Oiseaux du Paradis capsule collection, launched in September 2021

As we all adopted Birkenstocks and trainers during 2020, it might not have been a great year for heels but it was a significant year for Louboutin. He spent much of it in his home in Portugal, blessed by the fact he could enjoy his garden and the company of his children. “There was a form of solidarity as everyone was in deep shit. Businesses were drowning and it was happening across the board. I understand that I could not get too pissed or angry if I had no control over the situation. Why beat your own head? I was not locked in a small apartment, and I took measure of the levels of comfort and privilege that surrounded me. I took the upside: there was no way to complain about my situation,” says Louboutin, who talks energetically and whose conversation is constantly punctuated with smiles and those inimitable French hand gestures and raised eyebrows. “It slowed my pace and that’s a good thing. I had more time to think and concentrate. I took it as a message, an opportunity to reformulate, and go into ideas, develop creativity. You realise nature is constantly replenishing – after three months the air was cleaner, the waters were clearer in Venice and Paris, and animals returned to the city. If we give nature a chance, it will recover much more quickly. We all experienced that reality,” he says of the learning.

Read more: Prince Robert de Luxembourg on Art & Fine Wine

Out of adversity, there come opportunities. Louboutin also had the chance to weigh up and analyse the future of his business, which encompasses sales through approximately 150 department stores in more than 35 countries, a beauty line that he launched with nail lacquer in 2014 (it is now licensed to Puig), men’s and women’s collections as well as accessories. A promising suitor came in the shape of Exor NV, the luxury group owned by the Agnelli family in Italy. In March, Louboutin sold 25 per cent of the business for €541m, a figure which gives a clear indication of the value and promise of the brand which has seen remarkable success in Greater China where there are six stores. Exor, which is chaired by chief executive John Elkann, also has investments in Ferrari, PartnerRe, Shang Xia and Juventus FC.

The Hot Chick pump and Fun Louis sneaker from the AW21 collection. Copyright and courtesy Christian Louboutin

“The best business partner is one that enhances your way of thinking. We will remain the same and no one wants to interfere with how we do things – we have the same team and now we have solid partners who are great thinkers. The Agnellis are a family of entrepreneurs and I respect that,” says Louboutin, who works alongside his business partner, Bruno Chambelland.

“In the next five years, we will ‘muscle’ digital. We already have a successful e-commerce [side of our business] but digital is a bigger world encompassing operations and logistics. And we will also be looking at sustainability but not as a trend. In these matters, because sustainability is a complex science, you need to practice precaution and responsibility and have the time to take the right measures. It’s not about jumping on the first idea – this is a serious issue, and you have to be accurate,” says Louboutin, taking a balanced approach to fashion’s hot topic.

The Loubishark Flat trainer from the AW20 collection. Copyright and courtesy Christian Louboutin

Louboutin has a fresh outlook. He also sees great potential in the gaming world and has created a dematerialised Loubishark sneaker with a Pop Art graphic shark-tooth-style sole for sites. “Gaming has an interesting aesthetic and there is a distinct visual language which I find so fascinating. Since I was a teenager, I have liked calligraphy and optics and this is like learning a new code,” he says. Take a tour of the brand’s Instagram feed and its website and you can see playful virtual and augmented realities in the LoubiFuture world. The retro-futuristic vibe is playful and dynamic, just like the vibrantly coloured collection. There was also the chance to immerse yourself in Louboutin’s imagination at ‘L’Exhibition(niste)’, a monograph show at the Palais de la Porte Dorée in Paris in 2020 where the designer’s sense of showmanship and theatre were celebrated.

Read more: Molori Designs Founder Kirk Lazarus on Ultra Bespoke Luxury

His own sense of luxury is more shaped by the real world. He owns a 13th-century château in the Vendée and a beautifully restored 100-year-old sailing boat which is moored on the river Nile. When visiting the boat, he says, “by the second night, the stress of the city has evaporated. I’m looking at this beautiful panorama at a pace that is caressed by the wind. There is no motor, so if there is no wind, you stop. I love to sketch on the river with the landscape passing by. Everyone is affected by stress – even if you adore your working life, it’s important to extract yourself,” says Louboutin.

Christian Louboutin in Egypt, 1999. Copyright and courtesy Christian Louboutin

“Luxury – it has to create a form of reverie. Yet, it’s a huge word and belongs to so many territories. My luxury is not to buy expensive things – I see luxury as a door, an exit that allows for the freedom of mind and identity. And to have that escape is necessary for wellbeing,” says Louboutin. Being able to realise his own dreams has also made him something of a role model for a younger generation. If his twenty-year-old self could see his fifty-something self now, what would he see? “I would see a man living through his dreams. I would look at that person and see someone who tried not to live through preconceived ideas and who has a voice and that means someone who also listens,” says Louboutin. “Success is an added value.”

Christian Louboutin on how male/female fluidity is affecting his design thinking

“Something that has affected my design in recent years is the shifting of identities and the fact that I was compartmentalised between men and women before. That has dissolved for me into another way of thinking about male and female identity. Now, I have a freer way of designing. Outside of the traditional stereotypes, there is a bit of the showman in every man, and this is a new discovery.”

Find out more: christianlouboutin.com

This article was originally published in the Autumn/Winter 2021 issue.

Prince Robert de Luxembourg. Courtesy of Domaine Clarence Dillon. F. Poincet @ OccitMedia

Prince Robert de Luxembourg is taking Domaine Clarence Dillon and Château Haut-Brion, one of Bordeaux’s most prestigious wine estates, into the future by creating new winemaking facilities, a fine wine shop and a visitor centre. LUX speaks with him about mixing the worlds of art and fine wine, and growing the family business

Prince Robert de Luxembourg – just plain Robert to his friends and this interviewer – is in a hurry, although you wouldn’t know it. He is about to embark on his first family trip to the US, to visit the American side of his family, since before the pandemic. But if he’s ruffled by having to deal with the stresses of international travel currently, he isn’t showing it. “And how have things been with you?” he asks, listening thoughtfully and diverting briefly into a conversation about how curious the media world is right now.

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Robert is someone who could easily have done very little at all; after becoming involved in the family company a decade earlier, in 2002 he became Managing Director of the family’s holding of Domaine Clarence Dillon, which owns, among others, one of the world’s most celebrated wine estates, Château Haut-Brion. Haut-Brion is what is known by connoisseurs as a ‘First Growth’, standing alongside Châteaux Lafite, Mouton-Rothschild, Latour and Margaux; the China-driven rise in values of these wines in the past 20 years has meant a surge in profit margins for their owners. A case of 12 bottles of 1989 Château Haut-Brion will set you back more than £15,000 (more than US$20,000); in a restaurant, a recent vintage will usually be priced north of £1,000 per bottle.

Haut-Brion also has more heritage than pretty much any other wine: American founding father Thomas Jefferson famously took a case home to Virginia in the 1780s; and, for those who care about these things, it has a distinctive style, often richer and more earthy than its fellow first growths.

The salle des vignes in the 19th-century Pavillon Catelan, at Château Haut-Brion in Bordeaux, which has been converted and extended into a new visitor centre. Courtesy of Domaine Clarence Dillon

Like his wine estate, Robert has strong links to the US: his mother, Joan Dillon, was a stalwart of the US political establishment, who married Prince Charles of Luxembourg, a direct descendant of King Henry IV and Louis XIV, and a member of the Bourbon family. The heritage of the estate and other holdings in Domaine Clarence Dillon comes from his mother’s line: it was his maternal great-grandfather, Clarence Dillon, a Texan financier, who purchased Haut-Brion in 1935.

There’s an element of the Texan in Robert; his warm-hearted greetings, openness to conversation, straightforwardness. His English is somewhere between the private-school British of his upbringing and the East Coast aristo of his US family.

There is another side to him that needs prising out a little: the creative. He started out as a Hollywood screenwriter, one with considerable potential it appears, as one of his screenplays piqued the interest of Stephen Spielberg and was eventually optioned by Colombia Pictures. Although we don’t talk about it much, he plainly enjoys his interactions and ideas with the media and film crews, and there is creativity in both his planning as he expands and recreates his Domaine for the next decades and in the execution of elements such as Le Clarence and Pavillon Catelan.

The former is the restaurant he opened in Paris in 2015, now with two Michelin stars under chef Christophe Pelé, which, though reflecting a decidedly modern version of French cuisine, has been created to feel like dining at a Bordeaux château. The latter is his new creation at Château Haut-Brion and its (almost equally celebrated) neighbour La Mission Haut-Brion, a lavish visitor centre with contemporary-Baroque drawing and private dining rooms. The key message: the visitor experience can now be as lavish as are the wines.

Château Quintus in Saint-Émilion, part of Domaine Clarence Dillon. Courtesy of Domaine Clarence Dillon

LUX: To what extent have you transformed Domaine Clarence Dillon? It’s a broader business now than when you took over.
Robert de Luxembourg: It was a farm when I arrived as a child. We had no offices, it was just one venerable wine estate, Haut-Brion. There was an accountant who would come maybe one or two times a week to my great-grandfather’s apartment in Paris and that was the only ‘office work’ that was undertaken. There was also a gentleman who would organise visits in Bordeaux occasionally. At that time it was a farm and today, we have become a group of companies, the mother company being Domaine Clarence Dillon. This entity oversees five subsidiaries, three vineyards and many more wines. We have grown into a substantial and expanding wine business enjoying a multitude of related activities.

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I believe considered growth is important for a family company in order to survive and flourish. In the short term, you could do very well having one extraordinary trophy, but if you want to keep the family involved and the shareholders happy over the long term, you also have to evolve and grow. That is as important as the element of pride and belonging and being part of an exciting story. The bottom line is making sure that future generations of our family remain committed and invested in the business. So, yes, growth has been a part of my strategy along with enjoying the creativity of developing new lines of business. This company spirit is important to all of our stakeholders – my colleagues, my family and ultimately our customers. Tradition and innovation are an integral part of our DNA. As an entrepreneur, and standard bearer for our family and company, I find this mix both exciting and rewarding! Every time you start something new, it offers you all kinds of other directions in which you can take the business, whether it’s a restaurant, or retail or wholesale. I am very proud to say that we have accomplished this successfully in all of the related lines of business that we have developed. Clarence Dillon and Haut-Brion were my initial inspiration. This has led us to reach a level of excellence in all of our new activities that become references of quality in their own domains in the world of fine wine.

By the way, we have just had one of the most successful en primeur campaigns of all time. Quite unexpected, given the context! This is particularly exciting for Quintus but also for Châteaux Haut-Brion and La Mission. Our campaign lasted two-and-a-half hours during which we sold all the wine that we released on the market. Life slowly seems to be coming back to normal and it is gratifying to see interest and sales returning from hotels, restaurants and the airlines industry, which had remained very quiet over the previous 18 months.

The salon gentilshommes, one of the private dining rooms at Pavillon Catelan. Courtesy of Domaine Clarence Dillon

LUX: You are building a new cellar at Haut-Brion. What prompted this?
Robert de Luxembourg: All big changes at the estate, even dating back to the 17th century, have been driven by newer winemaking practices. Whether it’s the Pontac family producing new French claret or the introduction of adding sulphur and racking and even introducing estate bottling later, these winemaking developments are constantly driving innovation. When we brought in tractors in the 1950s, I think they were the first in Bordeaux and we had to house them somewhere, so we needed a building. When we brought in new vats in 1961, which were the first steel ones to be used in winemaking in Bordeaux, the buildings needed to accommodate them. And then in 1991, 1990 or even 1987, when we were rebuilding the entire chais at La Mission and designing new vats, this informed our advances during the following decades.

Over the past ten years we have been re-thinking our whole way of winemaking. This is driven by a desire to offer the finest winemaking tools in Bordeaux to our colleagues. We also aim to create carbon-neutral buildings that offer the perfect working environment for my colleagues and an exceptional visitor experience that focuses the attention squarely on the world’s most eminent historical winemaking estate, Château Haut-Brion.

None of this is particularly new. We started integrating the first solar panels back in the early 1990s at our estates, and we’ve slowly continued to build these up over the years. Now, with this new project, our intention is to complete this work at Haut-Brion by fashioning a totally carbon-neutral installation. Through our collaboration with the German-American architect Annabelle Selldorf and her team, we are developing the Château Haut-Brion installations of the future, while respecting the past and placing the focus back on this historic estate. This will be the most important undertaking at this estate for the past few centuries. We have been working on it for six years and it will take four more vintages to complete.

The salle des vignes at the Pavillon Catelan. Courtesy of Domaine Clarence Dillon

LUX: Your winemaker and Deputy General Manager Jean-Philippe Delmas must have a big role in this?
Robert de Luxembourg: Absolutely. The technical considerations for this project were front and centre. Jean-Philippe, alongside our Technical Director, Jean-Philippe Masclef, have together been driving this key process. It is interesting to think that Mr Delmas’s family has been overseeing all of these technical revolutions at this estate across three generations, starting with his grandfather, Georges Delmas, in 1923. At the very start of this project, having identified our architect, I told them, “You have carte blanche. What tools do you need in order to make the very finest wine possible?” Then we built a whole concept around what they had come up with. That has to be the starting point because it is ultimately exceptional terroir and wine that have always driven our success. After this came safety, comfort, ESG, sustainability and the visitor experience. Covid-19 provided us with extra time for reflection.

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It has been a wonderful experience working with Annabelle Selldorf. Her firm had no experience in the arena of wine but a deep and very varied experience in other sectors, with a particular focus on museums, galleries and art. They recently worked on the Luma Foundation in Arles in parallel with Frank Gehry. They are just completing the extension of the Frick Collection in New York and refurbishing the Museum of Contemporary Art in San Diego, and she’s done galleries for David Zwirner and Hauser & Wirth over the years, and has recently received an important commission to work on the National Gallery in London. So, it was interesting for me to bring all of that expertise into a technical project to look at how these two worlds could come together.

The main challenge for me was that Haut-Brion has the most extraordinary history of any vineyard in the world. We didn’t want to create a huge architectural statement. If anything, we wanted to put the focus back on the Château and its story. So, we needed something technically perfect, as I’ve described already, but also, from an architectural standpoint, a structure that was rather discreet. That’s why we needed an architect whose design principles and statements wouldn’t overwhelm the history but respect and celebrate it, all the while introducing a very modern concept.

Haut-Brion 1985, a classic vintage of the château. Courtesy of Domaine Clarence Dillon

LUX: What about the design of the new chai, and how will it relate to the Château?
Robert de Luxembourg: As I mentioned, it’s a modern, carbon-neutral construction using all the latest technology, whether geothermal or solar. As far as the design is concerned, it’s purposely discreet in order to focus the eye and mind on the Château, which is one of, if not the earliest château that was built solely to oversee wine production for the Pontac family whose house was not far away in Bordeaux. So the Château has sort of been obscured over the centuries as people have added on bits such as technical buildings and farm buildings. I would love to open up the Château again so that it is the first thing you see when you arrive. This is not the case today. And we’re trying to get away from having cars and tractors and stuff in the courtyards around the Château and just have serene parks and gardens outside. And that’s another concern: how do we monitor how people are going to be coming to us? Will they be coming in self-driving vehicles? Will they be coming in self-flying drones? How do we accommodate the new visitor over the next few decades? It’s not just about what’s going to happen in five years, but the next fifty.

LUX: So what will a visitor see in 2022?
Robert de Luxembourg: Well, in 2022, it’ll be a big hole, so there will be nothing. That’s why we have built our new visitor centre. And La Mission and Quintus will still be available for visits. Also, the shop, La Cave du Château Bordeaux, opened in July.

LUX: What will the private dining experience at the visitor centre be like?
Robert de Luxembourg: The idea is to recreate the atmosphere that we have in Paris [at Le Clarence Restaurant] so that people feel they are surrounded by the vineyards and they can have tailor-made tasting experiences. They can bring their friends and have access to an extraordinary range of vintages they will not have access to elsewhere. And the wine is going to be from our estate only.

The façade of Hôtel Dillon, Paris. Courtesy of Domaine Clarence Dillon

LUX: Will there be a kind of VVIP experience that you can offer with this private dining?Robert de Luxembourg: I think anyone that comes to us should be considered a VVIP. That’s our culture here; we’ve always welcomed all visitors and everyone has been treated as a guest in our home. We’ve never, to date, sold anything. We’ve never had anyone pay for any experience: it has always been free, everyone’s always been given free wine. So, in time, that is going to have to shift, because it’s a huge amount of work to have people serve and run the visits and the rest of it. Today, we receive around 10,000 visitors a year, and pouring 20,000 glasses of La Mission and Haut-Brion for free has an impact on our stocks when we are producing very little anyway. So, I don’t think it can go on forever, but within the new buildings, we will have dedicated spaces for visitors and special dining areas. Access to certain areas, depending on what you’re interested in, will be limited, of course, because we have collections of documents in our library, our collections of cultural tools, etc. Our new facilities will be outside the new visitor experience, but for the next few years – because it’s a three-year process before we even start the other building – we will have people using this space and they’ll be able to have catered lunches or dinners.

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LUX: Is it returning to business as usual at Le Clarence, following the lockdowns?
Robert de Luxembourg: I’ve tried to bother the chef as little as possible because it’s been complex getting up and running again. So far, the feedback that I’ve received from people who are friends of mine who have gone there has been very positive. It’s getting back into training and if you’re playing at the top of the league, you need to build up slowly and so that’s what we’re doing. I anticipate that we will become a little bit more normal in our practices and open up further come September. Our private rooms have had little use – we haven’t felt comfortable doing that – but it’s all now slowly returning to normal. What’s great is that people are so excited to be there with us. People are coming and staying very late. That’s part of the advantage the way the Clarence is conceived: they come and they stay. It can be challenging for our team because we have people still finishing their lunch at 6.30pm just as we have diners arriving, so we need to accommodate that, especially when people have missed this experience so much that they don’t want to depart.

The team of the hotel’s restaurant Le Clarence. Courtesy of Domaine Clarence Dillon

LUX: Can you tell us more about the 2020 vintage and also a bit about Château Quintus?
Robert de Luxembourg: Well, 2020 has been a huge success. Obviously, over the past few years we’ve had Mother Nature on our side. One of the positive aspects of global warming – if you’re looking for them – is that we’ve been making some extraordinary wines with vintages that happen to be in line with some of the finest vintages made over the past century. When you look at vintages such as the ’45s, the ’47s, the ’59s, the ’61s, the ’82s and the ’89s, they tended to be hot, dry vintages but still with enough humidity for the wine not to be stressed. Even 2003, which was the hottest, still has lovely acidity in the reds and the whites didn’t suffer either. The weather conditions have been perfect in order to produce great vintages and obviously the techniques have also improved significantly.

With Quintus, we’ve acquired three sites with different vats, both concrete and steel, so it was also an amazing laboratory for us to work in. Ironically, there was probably more variety to work with here for our winemakers than they had at La Mission or Haut-Brion. It’s taken some time for them to fully come to terms with the terroir, which is normal, but with 2020 we’re now coming up to our tenth vintage.

We’ve grown with the property, we understand it better every year, and I think we’ve made the best wine so far in 2020 and it’s recognised by the market. It’s the first time where, you know, critics are confidently saying, “Yes, this is a truly great wine and terroir”. We have totally changed the winemaking practices here on the right bank. I have never hidden the fact that my motivation is to produce one of the top (if not the finest) right bank and Saint- Émilion wine at this estate. That is why we named the estate Quintus (as the Romans may have named their fifth child). Quintus has the same potential as our first four wines, both red and white, to be one of the very finest wines in the world. I believe that we are up to the task of making this dream a reality!

Robert de Luxembourg’s key milestones

2002: Becomes Managing Director of his family’s Domaine Clarence Dillon, owner of Château Haut-Brion
2005: Launches mid-market wine brand, Clarendelle
2008: Takes over as Chairman
2009: Completes major refurbishment at Château La Mission Haut-Brion and begins the same at Château Haut-Brion
2011: Acquires Château Quintus
2015: Opens Le Clarence restaurant and La Cave du Château wine shop in Paris
2021: Opens the Pavillon Catelan visitor centre and La Cave du Château at Haut-Brion
2025: Château Haut-Brion cellar refurbishment due to be completed

Find out more: domaineclarencedillon.com

James Chen, Chairman, Chen Yet Sen Family Foundation and ‘Vision for a Nation’

‘Moonshot Philanthropist’ James Chen speaks to LUX about the importance of risking capital for a mission that matters

James Chen is on a mission to tackle a major problem that most of humankind doesn’t even realise exists. There are more than two billion people worldwide who suffer from debilitatingly poor vision, with no recourse to help. And yet all it would take to transform their lives is a simple pair of prescription glasses. Poor vision is a life sentence that could easily be lifted, with just a little help. In what he refers to as ‘moonshot philanthropy’, Chen – softly spoken, thoughtful and himself a wearer of prescription glasses – set out to change the world.

During his eighteen-year philanthropic journey, Chen has pioneered developments in optical technology through his company Adlens and overseen its implementation in the developing world through his NGO, Vision For A Nation. In July this year, largely due to pressure from his campaign Clearly, the UN adopted a Vision for Everyone resolution, which was unanimously agreed upon by all 193 member states. By recognising vision as a basic human right, the resolution will kickstart a global effort to help 1.1 billion people with poor vision by 2030. Here, Chen speaks to LUX about his mission.

LUX: You were influenced by your father to become involved in philanthropy. Tell us about that.
James Chen: When my father retired from business, he devoted himself to philanthropy in his hometown. I think a lot of people at that time were very generous, [but] they [only] wrote cheques. The difference with my dad was that he actually went there himself, a few times a year: he made that seven-hour trip [to his hometown], got to know the people and their needs. He set up schools, hospitals, town halls, and everything in between. Later, when he got old and stepped back from it, [I used it as] impetus for setting up the family foundation. Personally it was very gratifying to work with the family, and to build on his legacy, in China. But I wanted do dig into something meaningful globally. I had no idea what it would be.

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LUX: So how did the problem of vision come onto your radar?
Jame Chen: I came across this Oxford professor [Dr. Rob Stevens] who invented adjustable-powered lenses, and it immediately clicked with me. I grew up in Nigeria, where our family business still is, and for most of my career I’ve also been in developing Asia. The thing that struck me was that very few people wore glasses there – either because they don’t need them, or they don’t have access to them. When I met this professor, I could see how I could help solve the problem.

Thanks to Chen’s campaign Clearly, the UN is aiming to help 1.1 billion people with poor vision by 2030. Image by Sarah Day

LUX: Adlens is the vehicle you created to tackle this. What was that journey like?
James Chen: I formed Adlens with [Dr. Stevens]. We wanted to develop the technology and apply it commercially in the developed world, and socially in the developing world. My team spent two years knocking on the door of the World Bank, which ultimately rejected us. The industry and professionals said that it couldn’t be solved, but their model of delivery of glasses is to high resource environments: that model falls over in the developing world. That’s why we set up Vision For A Nation, an NGO, to test our model in a low-resource environment. We picked Rwanda, and developed a protocol to train nurses in three days to do a good enough eye test, and to dispense glasses. In five years, we screened 2.5 million of the 12 million population in Rwanda and dispensed 300,000 pairs of glasses. We left at the end of 2017, [having] done the thing that the policymakers said couldn’t be done.

LUX:  How did you scale that model?
James Chen: Instead of replicating the program one country at a time, I knew that this was a global problem: we had to think differently. That’s where I applied my risk capital to start the Clearly Campaign. Our target was to get policymakers to understand what we called ‘the problem that the world forgot’. We said, ‘if you have uncorrected poor vision, how are you going to achieve your sustainable development goals?’. For someone who has poor vision, it’s probably going to affect their educational outcome, their productivity; even gender equality is affected by poor vision. That’s the crux of our campaign.

LUX:  This concept of philanthropy and vision, had anyone done that before you?
James Chen: No one [has] thought of it in terms of a bigger scale. That’s why I had a brick wall when I first started looking into this. People do these programs [where they] go to a village and take glasses, but that doesn’t, to me, solve the problem. Poor vision is always put into the health silo: in the priorities of what governments have to tackle in developing countries, there’s a whole list of things that are perceived as higher priority than blurry vision. But there are 2.2 billion people in the world who have poor vision, of which, for at least 1 billion people, all they need is a pair of glasses to correct it.

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LUX: Why do you think it took a philanthropist with no prior knowledge of the sector, instead of scientists and governments, to solve the issue?
James Chen: A key problem in the world of aid is there is very little risk capital available. As a philanthropist, I am in the privileged position of being able to take risk with my capital. If it’s successful, it’s hugely impactful. If it fails, I can absorb that loss. It’s now my prime mission [to incentivise] the high net-worth community to do the same. I coined this phrase ‘Moonshot Philanthropy’, and I came up with a tagline: ‘privatise failure, socialise success’.

Chen delivering a speech at a Sightgeist event in London

LUX: What would you say to people to encourage them to do ‘Moonshot Philanthropy’?
James Chen: Recognise the superpower that we have as ultra-high net worth individuals: we can deploy our own capital, and we can take as much risk as we want. Most of the high net-worth community do not deploy that superpower.

LUX: Do you think there is enough dialogue between philanthropists?
James Chen: No. There’s still a lot of scope [for that]. There’s all this noise around impact, investing, and social enterprise, and lots of donors have become confused. Most people who call themselves philanthropists are really doing charity or patronage. With the ‘Moonshot Philanthropy’ idea I want to plant that seed so that there is a model for people to use. I think I’m in a unique position to reframe this, to help people to grasp it. That’s the good thing about philanthropy: it’s different from business. In business you’ve got a great idea and then you try to maximise the value. In philanthropy, if you think you have a great idea, share it, and let people run with it. That’s the best way to scale it.

LUX: What’s next?
James Chen: I’m very focused on proving the link between vision correction and its impact on things like productivity and education outcome. We need to provide the evidence base so that governments will invest. It’s not just helping me by doing all this; I’m bringing more awareness, and capital, and support to the whole sector.

Find out more: jameschen.vision

Harnessing renewable energy from sources like hydro electric power is essential for investing in the future

Jessica Hodges

From renewable energy to alternative food products, biotech to healthcare, ESG is helping to bring impact to the forefront of investment portfolios. As a partner at Deloitte, Jessica Hodges is responsible for helping private clients build responsible investments into their portfolios. She speaks to LUX about the increasing centrality of ESG to business strategy and why family offices need to be ahead of the curve. By Samantha Welsh, Philanthropy Editor.

LUX: What drove your own interest in ESG?
Jessica Hodges: I was interested in ESG issues from a young age – albeit the acronym didn’t exist yet – and was always keen to get involved in projects that had a social or environmental angle. My job means I come into contact with a large number of families, and I’m keen to ensure that we, and they, make an impact through the work we do. Considering environmental, social and governance (ESG) risks is becoming increasingly central to business strategy.

LUX: What trends are you currently noticing among family offices?
Jessica Hodges: Family offices are all unique, but generally we are seeing more of an interest from the next generation in issues that have a positive impact on the environment and on society. Younger generations are becoming increasingly involved in managing their family’s wealth and demanding investments that align with their values. They are particularly focused on how they measure ESG impact, considering on a case by case basis the impact companies are having and how they may change to align to ESG values, as well as using data to understand it.

Many next gen clients feel a real sense of obligation – particularly if the source of their wealth may not have been considered to have positive impacts in the past. Often in a family with multiple siblings, you might see one sibling managing the family business, one running the family office and one leading the philanthropic side of things.

LUX: Which sectors are next gen investors most interested in?
Jessica Hodges: Areas of focus include renewable energy infrastructure projects; alternative food products; agricultural technology and alternative farming; healthcare and biotech. What is so interesting is how ESG is bringing that ‘impact’ element into the broader investment portfolio – an area I think family offices are ahead of the curve on.

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LUX: What makes family offices potentially well suited to ESG investing?
Jessica Hodges: Family offices typically have more control over deciding and managing their priorities than public funds as they are private. They do not have to respond to shareholder demand in the same way, and have flexibility over how they use their large pools of capital. Their investment horizons are also often long term: instead of looking to make a quick return, they invest over five year periods or more, and do not have the same financial return requirements that larger venture capital firms have.

Being smaller, and typically more flexible and agile, makes it easier to introduce policy change and implement if they have the skillset to do so. Additionally, there are some family offices that are heavily focused on supporting their local community, helping to make more noticeable and measurable change locally rather than on a macro level.

Jessica Hodges delivering a speech at the Deloitte Family Office Conference

LUX: What basic interventions can a family make to incorporate ESG targets into an investment model which has been in place for generations?
Jessica Hodges: Due diligence of sustainability practices is key. This is an area that family offices will need to consider planning for, as a resource for sufficient oversight of external managers could be an issue for smaller organisations. It’s also key to have effective controls in place to measure and monitor fund managers, and ensure strategic objectives set by the family office are met.

ESG-proof due diligence and investment processes are also extremely important. This can include fully understanding the investment philosophy of any external managers (without any complicated jargon), obtaining evidence of shareholder engagement, and verifying performance data. The easiest intervention to make is often an exclusionary policy: the family picks a few areas they are not willing to invest in, such as organisations that negatively impact the environment or public health.

Read more: Professor Peter Newell on why the wealthy need to act on climate change

LUX: The ESG sector is unregulated and family offices value authenticity and trust: how do managers evaluate risks such as data validation, fraud, and greenwashing?
Jessica Hodges: It’s key that family offices have independently verified credentials. Besides checking a firm’s governance mechanisms, internal systems and controls, assurance would focus on whether there is a positive risk or ESG culture and a good level of awareness. In the same way that auditors come in to very financial data, providers will come to verify non-financial data over ESG metrics.

LUX: How is the ESG industry model disrupting traditional investing models?
Jessica Hodges: Firms are trying to determine which of their investments have both positive and negative social or environmental impacts and want to be clear on the implications of these with their public disclosures. They are also figuring out factors that will resonate most with their clients. If product governance is not thought through properly then there could well be negative consequences. My expectation is that there will be increased monitoring requirements with regards to asset portfolios, leading to additional costs – although proponents of this would argue that it is money well spent.

The sales part of the investment cycle is more complex since investors in ESG are not seeking to solely meet financial return objectives: at what point do you determine your exit? Historically, family offices – along with private equity – might have been looking to exit at the point when they could maximise their financial profits. Now, family offices will need to consider whether the targets outlined have been achieved, along with the broader impact on society or environment.

LUX: What makes a successful family office?
Jessica Hodges: The most important thing for a ‘successful’ family office is alignment of goals, and understanding what the family hopes to achieve. It is only by knowing where you want to get to that you can understand if you have really got there and measure how you performed!

Landscape photography by Isabella Sanai

Jessica Hodges is an Investment Management Audit and Assurance Partner at Deloitte