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New Breed
Natalia Peña
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CONTENTS
My friends say it’s due to our age that we want to be more conscious of the products we use. But honestly, it’s probably the time we live in. Millennials are so conscious of what they consume—for instance, the ingredients in their beauty products—and they’re more active in programs that look after the environment. Say what you want about them but really, they are just more aware and are trying their best to save what we and our parents have broken. This month, we have Natalia Peña on the cover. When I first met this stunner, I was even more impressed by her intellect. She made me hopeful and excited to see how my kids will be when they grow up. I met her through Zumba—something she does with her mom whenever she’s here in the country on break. How refreshing it is to be with millennials. At least, the ones like her. Cheers to our future… Actually, cheers to theirs!
ACQUIRED 4
Illustrated design books for staying in and the latest Hermès footwear for days out
DEVOURED 6
Discover the world’s top hidden watering holes
ATTIRED 8
Stunningly textured runway looks in primary colors
SQUARED 12
Gallerist Jay Amante unveils his record-breaking vinyl collection
ADMIRED16
Globetrotting optimist and changemaker Natalia Peña on coming home
@riarecommends
EXPLORED 21
Iceland faces a boom in tourism, thanks to the film industry
BUSINESS 24
Reliable investment options for your extra income
FASHION 26
Labels look to an “off ” aesthetic for inspiration On the cover: Batik pants, Fini, Byfini.com; top, Filip + Inna, Filipinna.com; earrings, Ken Samudio, Ken-samudio.com. Photography Patrick Diokno Styling Ria Prieto Makeup Cats del Rosario of At East Hair Nikko I. Bruel of Lourd’s High Chair
@riarecommends: #manilahouse #interiordesign #nofilter
Group Publisher Bea J. Ledesma Editor in Chief Ria Prieto Creative Director Nimu Muallam Associate Editor Alyosha J. Robillos Copy Editor September Grace Mahino Editorial Assistants Tisha Ramirez and Belle O. Mapa Staff Photographer Patrick Segovia Account Executive Liza Jison
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Contributing Writers Bambina Olivares Wise,
Olivia Sylvia Estrada, Doris Dumlao-Abadilla, Antoine Froidefond/AFP, Fiachra Gibbons/AFP, and Jérémie Richard/AFP Contributing Photographers Patrick Diokno, Patrick Kovarika/AFP, and Loic Venanc/AFP
Board Chairperson Alexandra Prieto-Romualdez SVP and Group Sales Head, Inquirer Group of Companies Pepito Olarte AVP, Sales Ma. Katrina Mae Garcia-Dalusong Head of Operations and Business Development Lurisa Villanueva Business and Distribution Manager Rina Lareza Sales Inquiries Email: sales@hip.ph Telephone No: +63 (2) 403 8825 local 239
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Inquirer RED Magazine is a monthly luxury magazine published by Hinge Inquirer Publications. RED is available at Fully Booked for free. For subscription inquiries, please contact 0917-5854870 or visit go.hip.ph/subscribe.
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EDITOR’S NOTE
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ACQUIRED
Breadth and Depth Lavishly illustrated design books for your perusal or heavy reading WORDS BELLE O. MAPA
Tara Bernerd: Place Tara Bernerd Rizzoli New York Rizzoli New York’s latest tome is a visual journey through elegance and utility. Londonbased designer Tara Bernerd is known for her intuitive approach to interior design: by adding temperament to it, she frees a place from its ever competitor, time. The book captures not only Bernerd’s attention to detail, but also the inimitable and handsome characters that inhabit the places she transforms. Available at National Bookstore
4 Rei Kawakubo/Comme des Garçons: Art of the In-Between Andrew Bolton Met Publications Comme des Garçons founder Rei Kawakubo is widely celebrated as one of the most influential designers of the contemporary age, with her avant-garde designs blurring the dichotomies between form and function, art and fashion, statement and interpretation. With never-before-seen photographs and witty quotes from the elusive Japanese designer, this splendid catalogue surpasses even the limitations of the exhibition it celebrates. Available on Amazon
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Parisian Chic Lookbook: What Should I Wear Today? Ines de la Fressange and Sophie Gachet Groupe Flammarion New York Times bestselling French author, model, and archetypal Parisienne Ines de la Fressange is back with a new installment to her well-beloved series. The lookbook illustrates her iconic style: that simple yet sophisticated je ne sais quoi many yearn to emulate. More than a fashion bible, Parisian Chic Lookbook becomes a looking glass through which we can glimpse the effortless glam that French women celebrate every day. Available at Fully Booked
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Iconic Detail The classics get a contemporary upgrade with Hermès’ latest shoe collection WORDS TISHA RAMIREZ
The spring/summer 2017 collection of Hermès embodies elegance with a twist, with creative director Pierre Hardy describing the array of footwear as “a very feminine collection to dance, jump, and walk [with].” From boots to sandals, the brand uses different materials and techniques to create pieces we haven’t seen before without sacrificing iconic details. Braiding is seen in the Octobre and Oxyene models, which uses braided textile and silk scarves respectively. Metallic studs embellish the Obsession while a Kelly buckle adds an accent to the Oz flat mule. The “H” cut treatment is also featured in three new styles, all with a multicolor identity. One of them, named Oracle, has a new square heel for better stability and height. In terms of stitching, the saddle stitch pattern also comes into play. The inspiration for these footwear styles comes from the classic Hermès leather goods, a nod to the label’s artisans. The only brogue in the collection, the Othello, features this stitching and comes in crisp white leather.
Hermès, Greenbelt 3, Ayala Center, Makati City. 757-8910.
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DEVOURED
Drinking Discretion A bucket list of speakeasies from around the globe WORDS ALYOSHA J. ROBILLOS
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Blind pig, blind tiger, hidden bar. Known by many names, the speakeasy has come a long way since its inception in the ’20s when the United States entered its infamous Prohibition Era. From 1920 to 1933, the trade of spirits was declared illegal across the US, triggering an unquenchable thirst for moonshine and “bathtub” gin that were usually served in watering holes kept secret with passwords and nondescript—if not misleading—entrances. Although the idea of concealment still remains, today’s speakeasies take on a more cosmopolitan appeal, adding to the mix chic interiors, a wide array of designer drinks, and, in some cases, an online presence that is as vague as it is intriguing. One thing hasn’t changed though: In these haunts, guests can sit back, enjoy a few drinks, and, well, speak easy.
PDT, New York Please Don’t Tell, more commonly known as PDT, topped Drinks International’s World’s Best 50 Bars list in 2011. A vintage phone booth inside the East Village hotdog joint Crif Dogs serves as the low-key bar’s entry point. 113 St. Marks, New York, NY 10009.
28 HongKong Street, Singapore 28 HongKong Street is perhaps Singapore’s most popular speakeasy. Crowned the best bar in Asia by Drinks International, the New York-esque establishment masquerades as an old shop house. 28 Hong Kong St., Singapore 059667.
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Floreria Atlantico
The Butcher, Amsterdam The Butcher is actually a gourmet burger bar in the popular Albert Cuyp Market. A back door leads to an inner sanctum that serves creative cocktails such as The Butcher’s Nana and the Spicy Crusta. Reservations are recommended to get in. Albert Cuypstraat 129, 1072 CS Amsterdam, The Netherlands.
Evans and Peel Detective Agency, London, United Kingdom Evans and Peel Detective Agency is one speakeasy that takes its cover seriously. Reservations are made by submitting a case to the agency, which a “detective” will look into upon the guest’s arrival. Once the interrogation ends, the real fun begins. 310c Earls Ct Rd, Earls Court, London SW5 9BA, UK.
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PHOTO FROM FLORERIAATLANTICO.COM.AR
Ounce, Taipei, Taiwan Ounce definitely ticks off the checklist for a blind pig: hidden behind a secret door, laid-back, and overflowing with great cocktails. It’s located inside a no-frills coffee shop and is known as one of Taiwan’s best bars. No. 40, Lane 63, Section 2, Dunhua South Road, Da'an District, Taipei City, Taiwan 106.
The Jerry Thomas Project, Rome, Italy They say getting into the Jerry Thomas Project isn’t easy. Only those who are able to supply the password gain entry, and the only way to know the magic word—or words—is by making a reservation. Once in, patrons find it difficult to leave thanks to the bar’s signature drinks. Try the El Cocuy Ancestral, which has coconut yogurt, or the Absinthe Frappé. Bicolor Cellini, 30, 00186 Rome, Italy.
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Floreria Atlantico, Buenos Aires, Argentina Having made it on the World’s 50 Best Bars list twice, Floreria Atlantico is the only “flower shop” that tends to customers until the wee hours of the morning. A must-try is owner Renato “Tato” Giovannoni’s homemade gin, which is distilled with maté yerba and eucalyptus. Arroyo 872, C1011 CABA, Argentina.
The Barber Shop, Sydney, Australia With its steady clientele, solid concept, and English-inspired drinks menu, The Barber Shop rightfully earned its spot at the 2014 Australian Liquor Industry Awards. The bar is located behind an unmarked doorway inside an authentic barber shop, where expert barbers offer their services. 89 York St., Sydney NSW 2000, Australia.
Moonshiner, Paris, France In true speakeasy fashion, Moonshiner is hidden behind the metal door of a walk-in fridge found in the restaurant Pizza Da Vito. Once inside, a cozy drinking den reveals itself, complete with an elegant fumoir or smoking room. 5 Rue Sedaine, 75011 Paris, France.
Foxglove, Hong Kong Foxglove, according to CNN, is the “world’s best bar to find yourself in during a rainstorm.” Conceptualized by NC Design and Architecture, the space is tucked away behind an umbrella shop on Ice House Street. G/F 18 Ice House St. / 2/F Printing House, 6 Duddell St., Central, Hong Kong.
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Ralph Lauren F/W 2017-18
Delpozo F/W 2017
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CĂŠline F/W 2017-18
Hat, skirt, and sandals, all Dior, Farfetch.com; earrings, white button-down, and blazer, all Delpozo, Farfetch.com; coat, black top, trousers, pants, and shoes, all Michael Kors, Net-a-porter.com.
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Gucci F/W 2017 ATTIRED
Primary Focus Runway statements in fundamental colors
Salvatore Ferragamo F/W 2017
Top, Delpozo, Farfetch.com; hoodie, coat, trousers, and shoes, all Balenciaga, Net-a-porter.com; skirt, Dior, Farfetch.com; satchel, Thom Browne, Farfetch.com.
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Fendi F/W 2017
Salvatore Ferragamo F/W 2017 Valentino F/W 2017
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Lace dress, Fendi, Farfetch.com; blue dress, Salvatore Ferragamo, Farfetch.com; top, blazer, coat, and gray skirt, all Valentino, Farfetch.com; boots, Balenciaga, Net-a-porter.com.
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Gucci F/W 2017
Calvin Klein F/W 2017
Fendi F/W 2017
Burberry F/W 2017
Shirt and green trousers, both Gucci, Farfetch.com; blue trousers, Calvin Klein, Farfetch.com; shirt, hoodie, and pants, all Vetements, Net-a-porter.com; bag, Bottega Veneta, Net-a-porter.com; striped trousers and shoes, both Burberry, Farfetch.com.
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SQUARED
For the Record
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A look into Jay Amante’s melodic sanctum WORDS BELLE O. MAPA PHOTOGRAPHY PATRICK DIOKNO
Jay Amante has been making waves not only in the contemporary art scene but also in the revival of record collecting in the metro. A little drive down from his gallery, Blanc, and across the street from his own record shop, The Grey Market, is a clandestine bar called 78-53-86. The name honors his family’s old telephone number. The space calls out to lovers of smooth whiskey and even smoother acoustics. Push the inconspicuous wooden door aside and enter a sanctuary where the warmth of jazz reverberates against polished wood and concrete. It’s a gratifying respite from the racket outside. Hanging Edison bulbs wash the narrow space a cozy yellow. To the right, a growing collection of over 9,000 vinyl records lie, waiting for their turn to bring the place to life. The downward slope of the ceiling then guides your gaze-if you can take it away from the sight of the records-towards two handsome speakers. Between them hangs a painting by artist MM Yu, alluring in its abstract silence.
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Welcome to 78-53-86, home to Jay Amante’s mighty record collection. What are your favorite items in your collection? I am not sure if I have favorites, but I enjoy the physical medium. I love records, art, photographs, furniture-anything I can get my hands on, literally. How long have you been collecting records? Do you remember the first one you ever bought? I have been obsessively collecting records for more than a decade. The first record I had was Styx’s “Mr. Roboto” when I was five, but the first record I bought was either Steely Dan’s “Gaucho” or Weather Report’s “Heavy Weather.” Did you oversee the design of 78-53-86? And how does the overall layout of the bar affect the acoustics? Yes, I designed it. I was also in charge of
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A space to ruminate over a well-fashioned drink and vintage music. Opposite page from top: A wide selection of whiskey and gin complements the jazzy music; MM Yu’s abstract painting hangs between vintage Altec speakers.
overseeing construction and woodwork. The slant in the ceiling came with the space, but I really like the slanted ceiling so I kept it as is. The idea was to transfer something that would work [in the] outdoors indoor. The space came first so I needed to work around the given constraints of the space to get the best possible sounding audio system. Can you also tell us more about the audio system? How did you come up with the setup? The source is comprised of two turntables; both are Garrard 301. I wanted the quiet time when I transfer to another record as quick as
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possible, thus the two turntables. The speakers are vintage Altec 511 horns, driven by Altec 806 drivers. The woofers are Altec 515b. The speakers are custom-made by our very own Joey Abad Santos of Harana Audio, while the amplifier is a Dynaco ST70 tweaked by audiophile and violinist Joseph Esmilla. At [the age of ] 14, [Esmilla] studied at The Juilliard School of music, but that’s another story. My cousin and I have been organizing the Annual November HiFi show for more than a decade, and that’s how I met those guys. The love for music and records somewhat made the friendship click.
What makes listening to records, as opposed to contemporary digital music consumption, more enriched or special? I would rather listen to music in any form (live, digital media, CDs, tapes, or records) rather than not have music at all. I think it’s the process of playing a record and the sound that follows that make the experience of listening to records very special. It just feels different—it’s hard to put into words—but a record collector would know exactly what I’m talking about. • 78-53-86, 2nd level, West, 42 Katipunan Ave., Quezon City. Open 3:30 p.m.-12:30 a.m.
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The Gift of Glory WORDS ANTOINE FROIDEFOND AND FIACHRA GIBBONS/AFP PHOTOGRAPHY PATRICK KOVARIK/AFP
New museum boosts Paris’ claim to be a modern art capital
ART
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One of the world’s biggest art collectors unveiled last month his plans for a spectacular new museum in Paris, cementing the city’s claim to be a modern art capital. French billionaire François Pinault will show his $1.4 billion (€1.25 billion) collection of modern masters in the domed Bourse de Commerce, within a stone’s throw of the Louvre, long the world’s most visited museum. The new gallery, which he said would open in early 2019, is also within sight of the Pompidou Centre, which houses Europe’s largest modern art collection. Paris Mayor Anne Hidalgo called the museum “an immense gift” to the French capital and told reporters that it would help put the city back at the top of the modern art tree. Pinault, 80, holds an enormous trove of abstract and contemporary masterpieces in a 3,500-piece collection that goes from Mark Rothko to Damien Hirst. He owns the auction house Christie’s, built a fashion empire that contains labels like Gucci, Saint Laurent, and Balenciaga, and already has his own private museum in Venice. But he has been trying for decades to find a home for his collection in Paris. That desire sharpened when his great business rival Bernard Arnault, who controls the LVMH luxury goods conglomerate, opened the Frank Gehry-designed Louis Vuitton Foundation for his art collection in 2014. Pinault has commissioned another Pritzker-winning architect, the Japanese master Tadao Ando, to convert the magnificent 19th-century Bourse de Commerce, which sits on the edge of Paris’ former central market district. “Epicenter” of world culture Ando compared the circular building to the ancient Pantheon in Rome. He said the concrete cylinder he plans for the inside of the building would be “the cultural epicenter of Paris which, in turn, is the epicenter of culture in the world.” He said he would create three floors of galleries under the building’s dome, whose spectacular frescos representing trade with the five continents are also being restored. The former corn exchange is a part of a one-billion-euro urban renewal project to give what Hidalgo calls a “new beating heart” to the city’s Les Halles district. Paris’ beautiful central market was bulldozed in the ’70s to make way for an airless underground shopping complex and transport hub, which many Parisians loathe. But a vast new steel-and-glass canopy unveiled last year to put a lid on the problem has also been derided, with one critic branding it a “custard-colored flop.” Asked earlier if he was going to expand his collection to fill the new space, Pinault said, “When you see a new work, you have to know when to jump on it. The big public institutions cannot do that. “We are a museum in movement and (will be) very complementary to the existing institutions,” he added. In 2001, Pinault handed the reins of his empire to his son François-Henri, who is married to Hollywood star Salma Hayek. Since then, the man once described as “the most powerful in the art world” has mostly dedicated himself to his art collection, installing it in the Palazzo Grassi in Venice and two other historic buildings there. The Venice venues will work in tandem with the new Paris gallery, sources close to the collector said. • From top: French businessman Francois Pinault; a model of the project of the future museum; the former stock exchange building during the presentation of the project.
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ADMIRED
The Longest Journey Home 16
After circling the globe, Natalia Peña is now ready to invest everything she’s learned into her home country WORDS OLIVIA SYLVIA ESTRADA PHOTOGRAPHY PATRICK DIOKNO
“I met Hillary Clinton once at a farmer’s market. I accidentally hit her with a baguette.” RED JULY.indd 16
Natalia Peña believes in the kind of optimism found distinctly among millennials. Despite all the dire headlines, she refuses to throw her hands up in defeat and give up. “[Throughout] history, things change,” she says. She should know, as she just finished her history and government course in Georgetown University with a minor in justice and peace studies. She’s one of those people you turn to when you need a reminder that there is still hope. “Bubbly” is a word that comes to mind, but it doesn’t quite fit. Peña isn’t positive for merely superficial reasons. She knows that its price comes from constantly moving forward, even when things are no longer Instagram-worthy. Peña was in Capitol Hill when Donald Trump won the presidency. “I saw a country in mourning,” she recalls. “Our classes were suspended
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Vest and shorts, both Pio Pio, piopio.ph; button-down shirt, Joey Samson, 0918-9592541.
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The perspective her experiences gave her leads her to believe that her generation should stop overthinking the unnecessary stuff. Instead of the constant need for social media likes and in the face of information overload, Peña proposes a different filter: “It’s not enough to rely on Facebook. We should read the news sites. It’s more important to be self-aware rather than be caught up in other things.” She cites as an example the bigger coverage on Trump’s “covfefe” Tweet versus the fact that he took away government-sponsored healthcare on the same day. To the possibility that her optimism might eventually diminish given she just graduated this May—a reasonable source of happiness and goodwill—Peña solidly believes in her positive worldview. “I have friends who already have their own NGOs or who have been granted scholarships by Barack Obama personally. They have already made changes as individuals, so I have seen how people can instigate innovation out of their own volition. The people around me inspire me.” She knows she has a lot of work to do, and she’s excited to get it all done. Everything she has been through has led her to this point: going back home. “Anything I want to do, I want to do here,” Peña affirms. She plans to take over the family shipping business as soon as she finishes her next internship in the States. She’d like to learn more about logistics and operations to help “with the legacy that [her] father has built.” At a time when it can be so difficult to love the Philippines, Peña says, “[That’s] hard [to do for] any other country. There are ups and downs.” For her, it’s not just about choosing the obvious. It’s also about taking responsibility. “I want to take what I have learned and use it to help back here. You can’t expect to change things when you are somewhere else. If you keep complaining about how things are here, it’s all the more important to stay here and change it. “I love my country,” she continues. “It’s both a blessing and a curse to have Filipino pride, but why not use everything I’ve learned right here at home?” •
“I have friends who already have their own NGOs or who have been granted scholarships by Barack Obama personally. They have already made changes as individuals, so I have seen how people can instigate innovation out of their own volition.”
CREATIVE DIRECTION NIMU MUALLAM STYLING RIA PRIETO MAKEUP CATS DEL ROSARIO OF AT EAST HAIR NIKKO BRUEL OF LOURD’S HIGH CHAIR
and we had a prayer vigil.” She was responsible for bringing Anwar Ibrahim to the United States to talk about his struggles before he was imprisoned. She worked for the Malaysian Prime Minister as an intern, focusing on reports that tackled media freedom and suppression in the Philippines, Malaysia, and Singapore. She also worked as an intern for US Congressman Donald Payne, helping him during Congress sessions on anti-gun violence. “I met Hillary Clinton once at a farmer’s market,” she adds. “I accidentally hit her with a baguette.” Another powerful woman she has rubbed elbows with is Madeline Albright, her one-time professor. “She has so much buelo,” Peña says of the revered former US Secretary of State. The same could be said of her, likewise a force with so much momentum. In sharing anecdotes about her life abroad, Peña reveals herself to be not only an inspired agent of change but also someone equipped with the knowledge of how to make it happen. Her optimism is coupled with both energy and a sense of purpose. She has had this drive for a while now. “I wanted to expose myself to different cultures and to be able to get a sense of how it is to live in a different country, to really learn about it,” she says of her choice to go to Georgetown University for college. Peña figured that going to school there would be the best way to achieve her dream, and once there, she got the chance to travel even more. The world became her classroom. On top of nabbing fascinating internships, she spent a semester at the University of Edinburgh. Naturally, she went around Europe as well. And just last week, Peña was in Siem Reap, Cambodia, with a historical fiction novel on the origins of the Angkor Wat as her reading companion. “I think Asia is where the future is. It’s where the most booming economies are and where countries are developing faster.” For her, immersing herself in as many experiences, stories, and places as she can is vital to her own development. “What’s the point of it all if I can’t use it in [my] own life?” Some of her other travels didn’t require plane tickets. Take her immersion in the Muslim community in Georgetown for example. “I believe in having interfaith dialogue,” she says. “From that experience, I learned that there are no actual walls between countries, between people. In the end, we are all the same.”
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Earrings and shorts, both Pio Pio, piopio.ph; vest, Joey Samson, 0918-9592541.
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WATCHES
Captured Time A New York exhibit uncovers the world of Patek Philippe WORDS BELLE O. MAPA
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Counter-clockwise from top: Cipriani Ballroom 42nd Street, New York; Henry Graves Supercomplication gold pocket watch; Her Majesty Queen Elizabeth II wearing her Patek Philippe Golden Ellipse wristwatch.
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Swiss watch-making company Patek Philippe presents a monumental showcase this July in the heart of Manhattan. “The Art of Watches Grand Exhibition 2017” is set at Cipriani on 42nd Street. The last of the Swiss family-owned watch companies aims to expose the world of watchmaking to enthusiasts and strangers alike. More than an expression of unparalleled craftsmanship, “The Art of Watches” chronicles the history of time. At the Grand Exhibition, visitors get to view a 400-lot collection of Patek timepieces, including a piece dating back to 1530. Other highlights include the infamous watch now known as the Henry Graves Supercomplication. The gold pocket watch features 24 different functions and was auctioned at Sotheby’s for an unprecedented $24 million. Its story began in the roaring ’20s when Henry Graves Jr. embarked on an unofficial race against fellow tycoon James Ward Packard to commission and own the most complex timepiece of their age. Packard’s Astronomical Pocket Watch, from the collection that had incurred Graves’ fascination, is also on display at Cipriani. Aside from the collections of American moguls, the exhibit also displays timepieces that were handcrafted exclusively for 19th-century monarchs. It was Queen Victoria of England’s pocket watches, two of which are on display, that sealed the allegiance between Patek and the royal families of the world. For the first time, Cipriani has erected a magnificent two-story structure to house an exhibition of this scale and magnitude. The exhibition space totals over 13,000 square feet. Ten uniquely styled and handsomely furnished rooms within this pop-up museum also take visitors back in time to discover the Patek Philippe story. Just around the corner of Grand Central Station, the Italian Renaissance building housing the exhibition is a prime location that is also historical and monumental in its own right. “New York was a logical choice for the US Grand Exhibition,” said Larry Pettinelli, president of Patek Philippe USA. “This was one of the first landing spots for Patek and Philippe in the 1800s when they began to explore the new world.” •
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EXPLORED
Into The Cinematic Wild Iceland, an open air Hollywood studio
WORDS JÉRÉMIE RICHARD/AFP PHOTOGRAPHY LOIC VENANCE/AFP
Crystal clear ice caves, glacial lakes, spewing volcanoes, and crashing waterfalls framed by dark lava columnsIceland’s breathtaking landscapes have become a magnet for Hollywood moviemakers looking to conjure up otherworldly scenery. In southern Iceland, the massive Almannagja gorge stretches as far as the eye can see. Its spectacular setting was chosen as the location for an epic battle scene in Game of Thrones between the characters Brienne of Tarth and the Hound. “The diversity is so big that you can create almost any kind of landscape,” says Leifur Dagfinnsson, president of the Icelandic production company Truenorth, which holds 90 percent of the market. “You can shoot Iceland for Iceland or you can have Iceland double for other places like the Himalayas, the Mongolian tundra, Siberia, or Greenland,” he says.
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Located in the North Atlantic, Iceland’s moonlike landscape has served as a filmset for many science fiction films portraying other planets, Dagfinnsson, says. From TV series such as Black Mirror to blockbusters including Interstellar, Lara Croft: Tomb Raider, Star Wars, James Bond movies, and Fast and Furious, the list of films shot in Iceland in recent years is long. “Surreal landscapes” The country’s uninhabited landscapes offer moviemakers the opportunity to film everything from dramatic action-filled scenes to apocalyptic scenery and futuristic worlds. Filmmaker Darren Aronofsky chose Iceland as a film location for his biblical blockbuster movie Noah in 2014, starring Russell Crowe. “The landscapes are surreal—practically of another world,” Aronofsky’s producing partner Scott Franklin told the Los Angeles Times at the time. The sky can look as though it’s on fire in the middle of winter, or teeming with roaring clouds trailed by black smoke. These aren’t caused by a volcanic eruption or a storm, but pyrotechnic explosions and swarms of helicopters from the movie sets. And at the foot of a waterfall or on a beach of silvery pebbles, one might even encounter a strange sword-carrying soldier on horseback returning from battle. Post-financial crisis Iceland’s economic collapse in 2008 has made it an inexpensive country in which to work and it boasts strong infrastructure with easy access to shooting locations, according to Kristinn Thordarson, president of the Association of Icelandic Film Producers (SIK). The economy is once again growing, thanks to a booming tourism industry and a thriving fishing sector, but a dark cloud looms over its rising currency, the krona, which the heavily export-reliant country has repeatedly tried to tame. As an incentive to film in Iceland, a tax rebate was increased this year from 20 to 25 percent of the overall budget of producing a movie in the country, and Thordarson said he hopes it will be boosted to 30 percent within four years, just behind Ireland’s 32 percent. In the land of ice and fire, 2016 was a peak year for television and movie productions, with turnover for local companies of 20 billion kronur (€173
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million, $189 million). But Thordarson wants to take it even further. “If we build a studio here and if the filmmakers use the studio... [then] they would do more in Iceland than just film locations,” he said. Filming is strictly regulated, especially in the country’s more than 100 protected areas, from nature reserves to national parks, where a license from the Icelandic Environment Agency is required. Shooting permits have been rising sharply since 2013 and “the conditions for obtaining [them] remain very strict,” says Adalbjorg Guttormsdottir, who leads a team that manages license applications. Disrupting the country’s flora and fauna is strictly forbidden, and even turning over a stone without putting it back in place is out of the question. Cinema tourism The Almannagja fault is now a popular destination for tourists and Game of Thrones fans. Eddy Marks made a one-day return trip to follow a tour of the HBO hit series, after visiting other sets in Croatia’s Dubrovnik and Malta. “It’s nice to see... something on TV and then you come to see it in real life. It’s a different experience,” says the Californian after taking a selfie in front of the Langjokull glacier framed by snow. Here, the Eurasian and North American tectonic plates divide, creating a deep canyon. And it is at this spot, in the heart of the Thingvellir national park, now listed as a UNESCO World Heritage Site, that the world’s oldest parliament was created, in 930. Marks is among 20 other tourists who came to the national park to see a territory in Game of Thrones called Beyond the Wall. “The weather was different in some of the TV scenes,” Glenn McGregor, a Canadian retiree, says with a chuckle, as heavy rain falls. Iceland’s unpredictable weather is known for tormenting film crews. “Many days were lost because of this,” recalls Theodore Hansson, 35, a long-haired, bearded Game of Thrones tour guide. A medieval history student at the University of Reykjavik, he also appeared as an extra in seasons two, three, and four of Game of Thrones as well as the most recent seventh season. But the bad weather also has its advantages. “[It] creates an even more realistic and more beautiful scenario,” says Leifur Dagfinnsson. “Sometimes it is a plus.” •
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BUSINESS
Invested Interests
Breaking down the available options for investing your extra cash WORDS DORIS DUMLAO-ABADILLA ART NIMU MUALLAM
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It’s the best of times, it’s the worst of times, to borrow that classic line. The rise of populist leaders advocating isolationism and protectionism has shocked the free world. Our own country is reeling from drug war-related killings and the armed conflict in Mindanao. Yet there’s still a lot of money chasing yields among local investors. Despite a slower-than-expected 6.4 percent gross domestic product (GDP) growth in the first quarter, the Philippines is still one of the fastest growing regions in the world. One major source of optimism is the Philippine House of Representatives’
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passing of the first phase of the tax reform package certified by President Duterte as an urgent piece of legislation. This package simplifies and lowers personal income tax rates while broadening value added tax coverage, rationalizing estate and donor’s tax, and adjusting oil and automobile excise taxes. It will put more money in the pockets of consumers and fund the government’s build-build-build infrastructure program. With the House version meeting the minimum reforms sought by the Department of Finance, all eyes are now on how the Senate version shapes up. Given the current environment, we look at the potential implication on
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different asset classes by asking investment experts. It’s not one-size-fits-all, and this is certainly not a recommendation to take on greater risks, but an attempt to explore some of the options out there in the market. Fixed income Debt securities are typically for conservative investors who are willing to accept a fixed return. Bonds issued by investment-grade sovereigns (such as the Philippine government) as well as those issued by top-tier corporations carry less default risks but also offer lower interest rates. On the other hand, lowerrated borrowers have to pay more to raise money. For existing bondholders, a downtrend in interest rates boosts the capital values of their bonds. But how about when the global trend is for interest rates to bottom out from record lows, like what is happening now? In this environment, some investment experts say that while short-term rates have risen, there’s still an opportunity to make money out of longerdated instruments. “It depends on the curve; the more promising [period] is on the further end of the curve,” says ATR Asset Management head of research Jomar Lacson. One can invest in fixed income by buying these debt securities or by participating in pooled funds (mutual funds or unit investment trust funds) that invest primarily in fixed income. Equities When one buys company stocks, that person bets on that company’s prospects. The shareholder makes money if the price of stocks rises or if the company declares dividends. When the stock market is on a bull run, it doesn’t take a genius to make money as the tide typically lifts all boats. But when the market is toppish, selective stock picking is the name of the game. In the case of the Philippine stock market, a lot of hope has been built into the passage of the tax reform program, which, in turn, is key to attaining the promise of a golden age of infrastructure. The good news is that many investment houses believe there’s room for the main-share Philippine Stock Exchange index to test new highs. COL Financial sees the index reaching 8,700 by this yearend while UBS expects the index to hit 8,800 through 2018. The stock market is influenced by a lot of things: macroeconomic trajectory, corporate earnings, flow/rotation of funds between developed and emerging markets, even politics. It’s not an asset class for everyone. It’s suitable for people with a higher appetite for risks and excess funds they can invest for the long haul. Young people or parents setting up trust funds for their kids may opt to set aside a portion of their portfolio for stocks to benefit from long-term upside. Stock investing can be addicting for some people who really monitor the market in real-time and act swiftly on potential catalysts on a day-to-day basis, but not everyone has the time or expertise to manage a portfolio. One option is to invest in equity-laced funds, thereby leaving your money to the hands of a professional manager. For newbies, one common strategy is pesocost averaging or buying one stock regularly over a long period of time. For people who are not sure what to buy, stock expert Mike Oyson says to just choose either Ayala Corp. or SM Investments Corp., noting that both of these conglomerates mimic the behavior of the PSEi. It’s just like choosing between business tycoons Jaime Zobel de Ayala and Teresita Sy-Coson: Whom would you trust to manage your money?
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Real estate A banker once told me that you can’t go wrong with investing in real estate— and that if you do get it wrong, time can correct it. For many, an ideal way to build passive income is to have a portfolio of property assets, especially residential units, to lease out. The conventional wisdom is that there’s no way for property prices to go but up, especially in a growing economy. But the rate of increase in capital values can be faster or slower depending on the macro environment and the location of the property. When there’s too much supply of real estate for sale or rent, it’s more difficult to strike a deal. And of course, real estate, unlike stocks or bonds, is not a liquid asset class. Plus, it ties up capital. But for people with lots of excess cash who don’t know what to do with it, investing in real estate is an attractive proposition. For those really looking for greater upside, ATRAM’s Lacson says the key is to buy property in areas in the early stages of development, like the Bay area or Arca South.
“Despite a slower-than-expected gross domestic product (GDP) growth in the first quarter, the Philippines is still one of the fastest growing regions in the world.”
Art Art is for the more discerning investor seeking diversification or wealth creation or both. The investor must have the time, passion, and discipline to hunt for pieces that will likely be more valuable in the future. But because art is in the eye of the beholder, pricing art isn’t as simple as counting the passing of time. Like real estate, art isn’t a liquid investment either so the investor must have a long-term horizon. Authentication is also crucial when investing in art, especially if the artist has been dead for a long time. For contemporary art, some collectors just opt to buy directly from artists to make sure the pieces are authentic and so they don’t have to pay the middleman. Malaysian Valentine Willie, one of Southeast Asia’s most-sought art dealers before retiring in 2012, offers three tips:
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Don’t lose sleep over your art purchase. Don’t borrow for it or spend your savings on it. Ask advice from reputable dealers or do your own research to find overlooked corners or periods of art history. Buy what you want to hang in your home. You may find that your investment could enrich you beyond your bank account. •
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FASHION
French actors Marion Cotillard and Mathieu Amalric
Is Ugly Really the New Beautiful?
How the fashion industry is embracing reversed beauty standards
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There is a French term, jolielaide, which, when translated, means “ugly-beautiful” and which, when uttered, is actually a compliment rather than an insult. Jolie-laide has been used to describe an atypical beauty, notable for the asymmetry of features, and therefore striking and unforgettable, as opposed to the blandness of the merely pretty. As F. Scott Fitzgerald once wrote, “After a certain degree of prettiness, one pretty girl is as pretty as another.” Such women have been celebrated rather than shunned, mainly by those with European sensibilities, and even immortalized on film or on the catwalk: Rossy de Palma, Charlotte Gainsbourg, Sofia Coppola, Alek Wek, Kristin Scott-Thomas, Sarah Jessica Parker, and even Cher. While such jarring features-a prominent hooked nose, a too-square chin, too widely-set eyes, a masculine jaw-may startle at first, one eventually gleans the beauty inherent in the oddness. But can the same yardstick be applied to fashion? There is a thread of ugly stitched into fashion of late, and apparently it’s cool. From Vetements, Balenciaga, and Dries Van Noten, to Gucci, Gosha Rubchinskiy, and Virgil Abloh’s Off-White, there’s an aggressive ugliness to the
fashions being purveyed at the moment. As a recent article in Quartz pointed out, “Right now, ugliness is having a moment. The labels getting the most attention make clothes that are often deliberately gawky and ungainly, in a clamor of lurid or mismatched colors that knock about glaringly in an outfit.” Beauty, in other words, has become so basic and boring and banal that it offers nothing new or exciting in terms of fashion. The point, it seems, is not to create something beautiful or sublime that ticks all the boxes according to the conventional norms of what is beautiful in fashion, but rather to challenge, shock, and
upend those norms and force the eye to see differently. Or so they say. They, including Dries Van Noten, who said in a 2012 interview at the Alliance Française in New York, “I’m more inspired by things which I don’t like ...nothing is so boring as something beautiful. I prefer ugly things, I prefer things which are surprising...You force yourself to ask yourself questions. Quite often I make a collection and I say, ‘Here’s a color I really don’t like.’...My assistants will say ‘Okay, you don’t like lilac,’ [that means] this season will be lilac. It’s like you see a color, and you think, ‘Why don’t I like this color?’ Maybe the composition is wrong, maybe the lighting is wrong—it would be beautiful in silk, but not the synthetic fabric...That for me is the fun, to play with all the [fabrics].” There is indeed a deliberateness to the addition of “off ” elements in clothing today. Demna Gvasalia, who designs for both Balenciaga and Vetements, throws in-not casually, but with calculated nonchalance— these elements: downmarket fabrics, awkward proportions, clashing prints. They do not border subversion but embrace it. At a price, of course, to the consumer. •
ILLUSTRATION “THE EMPEROR'S NEW CLOTHES” BY ANGELA RIZZA FROM ANGELARIZZA.DEVIANTART.COM
WORDS BAMBINA OLIVARES WISE
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