| member copy |
Kate the great
inve sting in the moss fac tor
investment
The thrill of equine investment, and how to make a first-class profit from stamps
insiDeRs
David Yeo, Matt Hermer, Johnny Zhang and more talk us through their average days
insPiRAtiOn
This summer’s ultimate consumables, along with high fashion and the high life
Genting, Malaysia
Manila, Philippines
Sentosa, Singapore
Beach Villas™ Ocean Suites™, Resorts World™ Sentosa
Malaysia – Genting, Langkawi, Terengganu Philippines – Manila Singapore – Sentosa USA – New York City, Miami (opening Fall 2014), Las Vegas (opening 2016) UK – Birmingham (opening early 2014)
Live the high life.
Contents 12 14 17
First Word Contributors Invitations The latest member events.
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Investment Kate the Great Gert Elfering on photography investment, focusing on The Kate Moss Collection.
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42 Horse Play Racehorses for investment. 48 F ields of Gold Farmland as an income generator? 50 What Women Want Positive changes are on the horizon for women in the workplace. 54 Mail Attention The humble postage stamp as an investment asset. 58 Swiss Twist Introducing the Chedi Andermatt.
Insiders 66
en Minutes with...Kenneth Cheng Hong Kong’s T young equestrian star. The Family Jewels Afternoon tea with the head of David Morris. Metal Detector Discovering a world-class copper mine in Chile. Day in the Life Six business leaders talk us through an average day.
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ert Stern The renowned photographer B on Marilyn Monroe.
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ary Ellen Mark An exclusive with the American M photographer.
Inspiration 107 114 118 124
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144 The Hot Ten This season’s most covetable
consumables. 156 W eekender Time out at Galaxy Macau. 160 Grieb & Benzinger Truly unique watches.
End Note 136 Last Word Ethan K on his exotic handbags.
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Reserve Me We’ve tried them, now you should. Spider Man The new McLaren Spider. Art House The hotels giving galleries a run for their money. The Source Buy your Chateau Lafite at source in Bordeaux. Boy’s Night Out An evening on the Star Pisces. Brighter Shade of Pale Fashion shoot at the Asia Society. Stitch in Time La Perla through the ages.
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The Reserve is a VIP club exclusively for Asia’s business elite. Produced in Hong Kong and China by INFO/NATION Managing Director
Roger Searl roger@infonation-asia.com
Membership Services
Carrie Wan carrie@infonation-asia.com
Marketing Manager
Zoe Belhomme zoe@infonation-asia.com
Events Director
Sonya Yeung events@infonation-asia.com
Editor-in-chief
Dominique Afacan dominique@infonation-asia.com
Art Director
Helen Griffiths helen@infonation-asia.com
Senior Designers
Lianja Salgado lianja@infonation-asia.com Gigi Lee gigi@infonation-asia.com
ADVERTISING AND SPONSORSHIP sales@infonation-asia.com +852 3620 3157 Partnerships Directors
Katie Vajda katie@infonation-asia.com Elizabeth Leung elizabeth@infonation-asia.com Musetta Lam musetta@infonation-asia.com Lawrence Lee lawrence@infonation-asia.com Jadie Rees jadie@infonation-asia.com
The Reserve Hong Kong is published under license from INFO/NATION. All rights reserved. Title and trademark registered. No part of this publication may be reproduced in any form without the written consent of the publisher. The views and opinions expresed or implied in The Reserve are those of contributors and advertisers and do not neccessarily reflect those of the publisher.
www.thereserve-asia.com
First Word Rebranding our VIP club should have been simple, right? Wrong. Since deciding to give ourselves a fresh new look and feel, the team has had ten thousand brainstorming meetings and ten million arguments. Ultimately, it was a wine-related serving of serendipity (okay, and the engagement of one of Hong Kong’s leading branding agencies) that lead us to hit upon The Reserve and then everything started to come together. There’s a moral in there somewhere. And a hangover. Anyway here it is –The Reserve, everything it ever was but more. Literally more, in that we’ve got more content – but also more in terms of quality. Our creative team earned their (red) stripes with the redesign and our digital team earned theirs with the bright and breezy new website. Have a look, it’s at www.thereserve-asia.com. If there’s anything you’d like to see more of, drop me a mail – we’re exclusively tailored to the tastes of you – Hong Kong’s elite.
Dominique Afacan - Editor-in-chief dominique@infonation-asia.com
IF YOU DON’T READ ANYTHING ELSE, READ... 43 Kate Moss - I absolutely loved interviewing Gert for this piece – a great character and a very informative collector
50 Horse Play - Football hero Michael Owen on his new love; equine investment
87 Day in the Life - Finding out what all my business heroes do on an average day, can’t go wrong! Make sure you ‘like’ us on facebook to keep up with all the latest member news facebook.com/reserveasia
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Contributors
Liz Thomas
Nata Ngai
Nathan King
A veteran arts journalist for the UK’s Daily Mail, economics graduate Liz Thomas is now writing about business, culture, art and travel in Asia. In this issue she looks at the challenges facing women in Hong Kong’s premier corporations.
Nata Ngai is a freelance stylist currently based in Berlin. Her styling has been featured in Esquire, City and SCMP Style. While on a recent return visit to Hong Kong, she took time out to style this issue’s fashion editorial.
Originally from South Africa, Nathan graduated from Rhodes University. He has shot international campaigns with various advertising agencies and fashion labels, and for this issue headed to the rooftop of the Asia Society for our fashion shoot, Brighter Shade of Pale.
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Abid Rahman After a year spent immersing himself in the creativity of Berlin, Abid eschewed a life of spreadsheets and revenue forecasts for a career writing about his real loves: culture, fashion and horology. Abid is a fashion and watch columnist for the SCMP and this issue penned our piece on La Perla through the ages.
Jonathan Powell Jonathan started his career at the Blood-Horse racing magazine in Kentucky. He has since worked at the SCMP and led news teams at the 2010 Guangzhou Asian Games. He returned to the UK to work with the 2012 London Olympics press team. Read his feature on equine investment on page 42.
...for those who know
asia@grieb-benzinger.com | www.grieb-benzinger.com
Invitations LATEST EVENTS FOR MEMBERS OF THE RESERVE
It’s been a lively few months for The Reserve. From our fireside chat with Gert Elfering to the BMW Hong Kong Derby, member diaries have been packed. See the highlights on the following pages. To make sure we carry on inviting you to all the right events, please fill out the Reserve Me form enclosed!
INVITATIONS Hamilton grand
great scot Hamilton Grand Residences, Angel’s Share, February 26 This intimate evening with a decidedly Scottish theme was created in the name of Hamilton Grand, a collection of luxury residences set right on the18th fairway of The Old Course, St Andrews, in Edinburgh. The development, comprising 26 beautiful apartments with a very rich history, was a huge hit with The Reserve’s golfing fans. R
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INVITATIONS Fijian Private Island
Castaway Club Fijian Private Island, Ritz-Carlton, Shenzhen, February 28 Owning a private island proved a popular prospect with 20 of our members from Hong Kong and Guangdong, who were invited to Shenzhen to learn more about an untouched Fijian island, exclusively for sale. The island had been granted permission to develop a 500-room luxury resort, making it a potentially lucrative investment opportunity for the right buyer. R THE
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INVITATIONS bMW hK Derby
the bet set BMW Hong Kong Derby, Sha Tin, March 17 The BMW Hong Kong Derby is one of the most lucrative events in the SAR’s horse-racing season, with a prize pot of HK$16m, outstripping the Epsom Derby and the Kentucky Derby. This year selected members of The Reserve were invited to enjoy the day alongside the title sponsor, BMW. With a prime position to watch all the action from, overlooking the final furlong, adrenaline was soaring all day long. R
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BEING UNIqUE Is AN ArT.
Every Benetti mega yacht interprets its Owner’s desires and reflects their personality to perfection. It represents Italian excellence in terms of quality and maniacal care over every detail. Behind it there are 140 years of history, the experience of more than 300 yachts built and the leadership and financial solidity of Azimut Benetti Group. This is our uniqueness, this is our art. since 1873. benettihk.com
Be ne t t i Custom : sT E E l AN d A l U M I N I U M YAch T s Ov E r 4 7 M ETrE s . Be ne t t i Cl a ss R a n g e : cO M p O sI T E YAch Ts F rO M 9 3 TO 1 4 5 FEET.
A brand of AZIMUT BENETTI Group
For more information please contact g.pellacani@benettihk.com
INVITATIONS aqua by Yoo
starck night Aqua by Yoo, Azure, April 11 Members with a penchant for luxury property were invited to Azure in Hotel LKF by Rhombus to find out about the new beachside development Aqua by Yoo in Boracay. Yoo was co-founded by Philippe Starck and international property developer John Hitchcox. Real-estate agent Claire Brown introduced the property, explaining how the market in the Philippines has evolved dramatically. R
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INVITATIONS Investment Summit
table talk Investment Summit, Renaissance Harbour View Hotel, April 17 The Reserve members were out in force for our latest Investment Summit, where they had the chance to listen to speakers from a selection of lucrative investment industries over a four-course dinner. Topics included classic art, rare collectables, clean technology for developing countries, and the future of space transportation. R
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INVITATIONS Gert elfering
the moss factor Gert Elfering Fireside Chat, Upper House, May 21 Art collector and billionaire entrepreneur Gert Elfering introduced his extensive collection of Kate Mossinspired art to a select group of The Reserve members the same week as Hong Kong hit its cultural climax with Art Basel. Gert was interviewed by our editor, Dominique Afacan, during a casual fireside chat, and spoke about the many myths behind photographic art for investment. R
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INVITATIONS Capital Alternatives
fields of gold Capital Alternatives Dinner, Kee Club, June 11 Members seeking alternative investment options hopefully found what they were after at this private seminar last month. Hosted by Capital Alternatives, the focus was on Australian farmland and African palm oil. Guests stuck around after the presentation for a delicious meal, and to catch up with the company’s representatives over drinks. R
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INVITATIONS Chedi andermatt
valley high Chedi Andermatt Preview, Mandarin Oriental, June 13 The Chedi Andermatt is an exclusive 5-star contemporary hotel and residences development nestled in the Urseren Valley in the heart of the Swiss Alps. Getting a foot on the Swiss property ladder has long been almost impossible, so members were very excited to hear about this rare opportunity. Finessa also offered guests a selection of fine Swiss wines. R THE
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Meet with us in Hong Kong +852-2824-8163
rsvp@manhattanmiami.com
Insights The talk of the town
Prepare for some luxurious liners as Hong Kong’s new Norman Foster-designed cruise terminal opens on the former site of Kai Tak airport. Over HK$8b has been spent, with more being splurged developing the surrounding “Kai Tak Strip,” which will feature huge landscaped gardens and residential developments, bound to get investors talking. Waterfront Air, a seaplane service between Shenzhen and Macau, is soon expected to get the green light. Part-owned by Australian entrepreneur Peter de Kantzow, son of Cathay Pacific co-founder Sydney de Kantzow, each trip would take just 15 minutes and would be much quieter than travelling by helicopter. We like the (barely audible) sound of that.
Chief Executive Leung Chun-ying’s optimistic view of lunch breaks of the future, by Victoria Harbour.
MeMber Poll Are you in favour of Hong Kong’s new electric taxis? 82% yes 18% no Despite carmaker ByD suffering tumbling shares after one of its chargers malfunctioned, the city is still behind the cleaner, greener taxis.
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“The kind of picture I have in my mind shows a young mother pushing a pram with a lovely baby sitting inside it, a balloon floating above it, and a father changing into his swimsuit, having a sandwich with the wife and the baby, and jumping into the sea.”
INSIGHTS
the talk of the town
Education Despite Hong Kong’s local schools coming out top in countless educational surveys, it seems that we can’t get enough of satellite British schools. Here’s our pick of the best.
Harrow School
Widely regarded as one of the UK’s best schools, there are now satellites operating in Bangkok, Beijing and Hong Kong. Founded in 1572, famous alumni include Winston Churchill, Byron, Alain de Botton and Bo Guagua.
Marlborough College
The UK school, founded in1843, is set on the outskirts on Wiltshire, with a satellite outpost now in Malaysia. Who’s passed through the original establishment? Kate Middleton, Sir John Betjeman and Chris de Burgh, among others.
Wellington College
Sebastian Faulks and George Orwell both went here, and now the lucky few can attend the Shanghai satellite, when it opens next year. The UK school opened in 1859 and stands on a beautiful, 400-acre estate in Berkshire.
Dulwich College
This South London school was founded in 1619 and is one of the largest independent schools in the UK. There are satellite schools in China, Korea and Singapore, opening 2014. The school also runs sponsored A-level programmes for Chinese students in Zhuhai in Guangdong province, and at the elite Suzhou High School in Jiangsu province. Alumni include PG Wodehouse, Sir Ernest Shackleton and Raymond Chandler.
REtail Paul Smith enters China British fashion giant Paul Smith has opened its first flagship store in Beijing, and has plans to open 25 more in Tianjin, Beijing, Shanghai and Chengdu over the next five years. After a failed entry to the market in 2002, the brand hopes that China’s customers have become more discreet and understated rather than choosing brands that show off wealth. Time will tell.
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toy story “My sculptures cause uproar, astonishment, and put a smile on your face. They give people a break from their daily routine.” So says Florentijn Hofman, the man behind the enormous rubber duck that’s thankfully now departed our harbour and set its sights on Pittsburgh. On further inspection, we discovered the Dutch artist has created equally bizarre sculptures all over the world. Our favourites? Fat Monkey – a huge monkey lying in a park in São Paulo, made entirely from flip-flops. Big Yellow Rabbit – an enlarged cuddly toy in the Swedish city of Örebro, created out of locally made products. Kobe Frog – a 10-metre high inflatable on the roof of Kobe’s Museum of Art.
Age is but A number Retirement? Pah! With K Wah Group chairman Lui Che Woo still going strong at 84, and Henderson Land’s Lee Shau-kee nowhere near throwing in the towel at 85, it comes as little surprise that Hong Kong racing icon Albert Poon will drive in the Macau Grand Prix in November, aged 77. As Mark Twain once said, “Age is an issue of mind over matter. If you don’t mind … it doesn’t matter.” Hear hear!
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“I’d like to have a flagship in Beijing and a flagship in Shanghai. If we can find 2,000 to 3,000 square metres, we’d like to have a Topman as well. If we can find two locations, off we go.” Retail tycoon Philip Green’s sights are set on China, following a successful launch of Brit fashion label Topshop in Hong Kong.
Investment How best to invest
Holiday homes in the Swiss Alps are among the most sought after by Asia’s elite Swiss Twist, p. 58
INVESTMENT Kate Moss Art
Arthur Elgort
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Gert Elfering
The Moss FacTor Gert Elfering on The Kate Moss Collection – which will be auctioned at Christie’s in September
Gert Elfering is a German entrepreneur and an avid art collector. Over the years he’s introduced and nurtured many artists and photographers who are now household names. His exhibition The Kate Moss Collection includes works by the likes of Nick Knight, Jake and Dinos Chapman, and Mert and Marcus. Dominique Afacan caught up with him to find out more.
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INVESTMENT Kate Moss Art
Arthur Elgort
What makes a good photographic art piece? That’s a big question. What makes one thing good and the other bad? Well, if you have trained eyes, you can see the difference. But one thing to consider is that even a great photographer doesn’t take a perfect photo every time. Being a good collector is about recognising the best works of an artist rather than buying anything because it’s by a famous name.
Why are you selling such an incredible collection instead of keeping it for yourself? I always keep a few pictures for myself – but I don’t want to be a museum director. Collecting is an interesting process in itself. For me, putting this together almost as a new work of art and showing it in a new context is wonderful. I source the artists and help organise them too – so sometimes it’s more of a creative process than just buying art. If I’d never sold anything, I’d have about 5,000 pictures in storage. I always have enough for my walls, but I like buying new stuff.
Who are you favourite photographers? I would credit Allen Jones and Nick Knight. The likes of Irving Penn, Helmut Newton and Richard Avedon too – but all these guys are already dead. For me, Nick is the new master in photography and will follow someone like Irving Penn. He’s not just a photographer; he’s a broader artist. Allen Jones too – he might be 75 and one of the big pop-art artists, but he’s totally undervalued. His work is exceptional and just picked up a bit on the market. Kate loves him too, so I was really pleased that they did something together for this.
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Why Kate? Kate is special. She’s the only model you could do this kind of collection with. Most models are just that, models, whereas Kate is more like a muse, a woman who inspires many different kinds of artists. She has a different mentality. I always say she’s more like a silent-movie star. She’s very interested in art and is very selective with the people she works with. Her pictures have a different kind of depth.
David Sims
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The ReseRve
MeMbeR News
Arthur Elgort
What are your favourite pieces from the collection? The gold sculptures from Nick are very special. I also like the photography that Allen Jones did with her. Mert and Marcus too – they’re good friends with Kate, so the photos feel very intimate. But not everybody has to share my taste. There are beautiful pictures from Arthur Elgort, whose photos are not usually something I’d collect, but he did these beautiful pictures with Kate, and I love the emotion behind them. What makes a good art investor? The advantage of being an art collector or investor is that you also become an interior decorator.You get to live with the investment. If it increases in value, that’s great. Photography is a great investment; sculpture and painting are on a level where you can no longer afford to buy masterpieces. Why buy second-class pieces when you can still buy the best photography for relatively little money?
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On September 25, 2013, The Kate Moss Collection will go under the hammer at Christie’s, London. On May 21, Gert Elfering came to Hong Kong, where members of The Reserve were invited to meet with him and preview the collection before anyone else.
But aren’t there multiple prints of most photographic pieces? The big misunderstanding in photography is that there are unlimited editions of each image. That’s not true. Photography – especially older works – is very limited, as artists then didn’t make too many copies. Also, museums never had photo collections, and today are having to build their collections. This means existing works are being snapped up in a short space of time. Photography is one of the most underrated subjects in the art world. Are there any Chinese artists you have your eye on? Zhan Wang. I bought a huge painting from him a few years ago. I was not in a shopping mood but it was so beautiful that it caught my heart; it was the right connection. That’s the best way to buy art. Of course, I do my homework first and make sure I’m paying the right price. R
INVESTMENT Kate Moss Art
David Sims
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INVESTMENT OPL Racing
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Horse Racehorse ownership is being offered to potential alternative investors in Asia, by a man who knows all about the thrills of top-level competition.
Words by Jonathan PoWell
F
ootball fans will recall Michael Owen’s crucial goals that won the 2001 FA Cup Final for Liverpool, and that legendary, virtuoso effort for England against Argentina in the 1998 World Cup. Owen’s retirement from football is imminent, and now a glittering career looks set to transfer smoothly into an equally stellar adventure in racehorse ownership. Only this time, he’s inviting new friends along for the ride. In response to demand from prospective mainlandChinese investors for new alternatives in sport and leisure, and the expected development of the horse-breeding and -racing industry in China, Owen and his team at Manor House Stables in north-west England have put forward a unique club-membership package that will especially appeal to sports enthusiasts. Under the banner of OPL Racing and in tandem with Belgravia Alternative Investments in Hong Kong, the packages on offer would secure a thoroughbred horse with a proven track record, and give members and their guests exclusive access to the most prestigious global sporting events, with Michael Owen as host. The 33-year-old father of four says, “This is about
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member news the Reserve will be hosting Michael owen in hong Kong and china later this year. he will be happy to meet any members interested in talking to him about equine investment. email us at reserveme@thereserve-asia.com to find out more.
Race calendaR
Five of the best global race meets MaRch – hong Kong deRby With hK$16 million in prize money, this race is one of the world’s richest derbies.
May – KentucKy deRby the “Run for the Roses” is by far the most iconic horse race in the united States. Prime box seats are referred to as “Millionaire Row.”
June – Royal aScot Probably the world’s most famous race meeting, held at the ascot racecourse in berkshire, with 300,000 guests over
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five days. a strict dress code of top hat and tails is still rigidly enforced.
octobeR – PRix de l’aRc de tRioMPhe Recent sponsorship has pushed the purse for this event in Paris up to euR4m (hK$40.6m).
noveMbeR – the MelbouRne cuP this race, with a purse of over au$6m (hK$42.9m), is one of the most prestigious and sought-after titles in the world.
INVESTMENT OPL Racing
“It’s about owning horses on the grandest stage, going to the big events and matches in the best stadiums” including at Royal Ascot, and is respected as an upcoming force in British racing. With influential backers like Owen and co-investor Andrew Black, the founder of the bookmaker Betfair, the ambition is to compete for the sport’s biggest prizes. OPL Racing’s Steve Wood said members would be encouraged to build a bond with their racehorse through a new iPad application being developed by Owen’s team, which would include weekly photos and video footage of their horse in training, as well as reports from Dascombe and the jockey, and access to bookmaking facilities. As well as witnessing their horses competing for major prizes at renowned British horse-racing meets such as Royal Ascot, Goodwood, Newmarket,York and Epsom, members would also be invited to join Michael Owen at The Masters or British Open golf tournaments, Wimbledon Championships, the Formula 1 Monaco Grand Prix, or the FA Cup Final at Wembley. Introductions to leading sports icons would potentially be in the offing. “This isn’t being pitched as a typical investment; it’s more an opportunity to experience once-in-a lifetime moments that wealth on its own may not bring to you,” says Owen. “We’re building friendships, and seeking to share the enjoyable experience of horse ownership and the added value that I can bring with exclusive access to people and major sports events.” OPL Racing is represented all across the APAC region by Belgravia Alternative Investments Ltd. To find out more, contact oplracing@belgravia-alternative.com
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owning horses on the grandest stage, going to the big events and matches in the best stadiums, and meeting the players afterwards. It’s about contacts and exclusive access, sharing what we’re passionate about, and hopefully going for the big prizes in horse racing. We’ll start with a core set of ideas, but there’s scope for more and to expand [the offering] in the future.” Investing in racehorses is highly speculative, and returns certainly cannot be guaranteed. The hope is to purchase a horse that competes at the very top level and that offers a unique involvement in what truly is an exciting industry. There’s one way of limiting your risk, however – and that is to invest in the more expensive, elite pedigrees. Potentially, a horse with a strong bloodline, which has some success on the track, could be sold on for a profit. If they’re not gelded, the most successful male horses, or colts, with good pedigrees, can be incredibly lucrative when they retire to stud. Champion horse Frankel is expected to make US$18m (HK$140m) in his first year as a stallion, and US$150m (HK$1.2b) long term. Some owners have also had success breeding from their mares after their race careers. OPL Racing estimates that candidates for a big race in the UK could be acquired for a six-figure sum. Members would choose the colours the horse will race in, and have the option of Michael Owen being named as a joint owner. The horses would be trained and stabled at Manor House, Owen’s state-of-the-art facility among the rolling hills of Cheshire. Led by award-winning trainer Tom Dascombe, the stable had 81 winners last season,
INVESTMENT OPL Racing
great feeling. Some of the wealthiest people in the world have tried to find an exceptional horse that can win on the biggest stage. If you’re the one who can do it, it’s not only lucrative, but the adrenaline rush is something else.You have no control once the horse is down at the start: it’s just a dot in the distance.You’re just hoping and praying. That’s when I get most nervous.
How did the idea to set up the OPL Racing Club emerge? We were approached by Belgravia Alternative Investments after learning that there’s a real demand for this specific kind of alternative investment. People in China and across Asia generally are interested in and excited about getting involved in buying racehorses and being a part of the exclusive experiences that we can offer. Now I’ve retired from football, I have more time to work on these exciting ideas and to develop new relationships with people who share my love of horse racing and other sports. I really look forward to the prospect of bringing new owners and investors to Manor House Stables, getting them involved, and sharing our passion for this wonderful sport. How does it feel being an owner and witnessing your horse compete in a big race? You really feel an attachment to your horse.You get wrapped up in the emotion of everything at the track, the people cheering; and to see your horse win, go past the line first, is special. I’ve been used to having destiny in my own hands with football. I don’t get nervous playing; I feel in control and have self-belief. In racing, it’s a different type of adrenaline that emerges – a strange but
What excites you most about this new venture? I’ve been fortunate to be successful [in my career] – and racing is my passion. I built Manor House by following my passion.You need investors to go for the big prizes, and that is the motivation and where the excitement is. This isn’t about making big profits; we want to get the maximum enjoyment we can. We want to get the best horses, and train the best horses. Together with our partners, we want to win some of the world’s biggest races, and have fun doing it. R Belgravia Alternative Investments Ltd Two International Finance Centre Level 19, Hong Kong. 2251 8862 owenpromotions@belgravia-alternative.com www.belgravia-alternative.com
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Michael Owen
How can you increase a horse’s chances of competing in the biggest races? Just having a good horse or training facility doesn’t mean you’re going to win, but every element helps. Buying good stock, and removing as many imponderables as you can, gives the best chance of winning. At Manor House we’ve got a fantastic trainer – Tom Dascombe – and we’re supported by people who know the industry inside out. The facility is second to none. There are no excuses. We can get the horse fit, and mentally and physically right for the starting gate. Tick all the boxes; it’s all you can do. Still, things can go wrong. But we know we can do it now, and how to stay on the path to the big races. We’ve done it before. So we know we can do it again.
INVESTMENT Capital Alternatives
Fields oF Gold Finding reliable income generators in a world of shrinking yields has become a top priority for money managers and investors. Farmland might just be the answer.
Words by ben robertson
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e all know the story: A global population of 7 billion and rising, a growing demand for wheat, dairy and meat-based food products in emerging markets, and limited access to sources of
new arable land. The trend points to rising food prices and food scarcity. While the long-term trend for higher prices seems clear, it need not be the apocalyptic scenario some have suggested. Contrary to popular imagination there are still large areas of undeveloped fertile land available in South America, Africa, Eastern Europe and Russia, and Australia. Africa alone has over 600 million hectares of uncultivated arable land, according to research and advisory firm, Mckinsey & Co. Adopting a market-based approach, many of these governments are becoming increasingly willing to open up undeveloped tracts of land for agricultural use. It brings in investment, jobs and helps support local land prices. In the long run, it will also boost food supply. As a consequence of this, the past few years have seen a large number of headline land acquisition deals done by pension funds, ultra high net worth investors, and multinational and state owned firms operating outside
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of their home countries. In a report issued last year, the charity Oxfam estimated that over a ten-year period, 106 million hectares of developing world land had been sold to foreign investors. Oxfam highlighted that one-sided deals sometimes came at the expense of indigenous landholders. Legendary commodity investor Jim Rogers has even suggested that farmers are ‘on the money’ and will be among the new super rich of the 21st century. But how can the average investor gain direct exposure to agricultural land? Agricultural commodities and themed equity funds provide only limited correlation and lack the tangibility that many investors seek from physical real estate. “More and more people since the crash of 2008 are looking for tangible investment alternatives to put their money into. They are looking for a more stable income environment,” believes Lewis Philips, a senior broker at alternative asset specialist, Capital Alternatives Limited. Working with agricultural investment specialist Agri Firma, Mr. Philip’s firm is launching a farmland investment project in Western Australia. The project is situated in the Shire of Chapman Valley, around 500 kilometres north of Perth, and involves turning 2500 hectares of fertile agricultural land into high yield
has one of the tightest and strongest land ownership regulations in the world,” confirms Mr. Philips. The goal is to generate a steady cash return from annual harvests plus a capital gain through land value appreciation. Targeting a minimum investment timeline of five years, Agri Firma aims to boost the average crop yield and land value and then find a single buyer for the site. According to a 2012 report by Savills on the agricultural market, the price of Australian farmland has increased by 200-300% over the past eleven years. Part of the return will be linked to an expected gain in wheat prices based on growing global demand. Over the past five years the strain of hard red winter wheat grown in Chapman Valley has traded above US$150 per metric ton while in the proceeding five-year period it traded in the US$115–150 per metric ton range. Industry estimates based on projected increases in demand suggest medium term prices will move to the US$250-300 per metric ton range. With the medium to long-term outlook for agricultural looking bountiful it may be time to sow for the harvest. R For more information: www.premieralternatives.com +61 1800 060 014
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wheat producing farmland. The project is targeted at individual investors with a minimum investment commitment of 3 hectares. Close to the west coast shoreline, Chapman Valley has a suitable microclimate and a strong local history of wheat production. Australia is already one of the world’s largest producers of grain and is currently the fourth largest exporter of wheat to Mainland China – the world’s largest consumer of wheat products. “The relationship between China and Australia is allowing wheat production to happen on such a massive and growing scale,” says Mr. Philips. Wheat is a key ingredient for both human and animal based food products. Already, 50% of America’s wheat production goes into animal feed to support the growing global demand for meat. Agri Firma’s target lands border with existing farmland and would be farmed and managed by Agri Investment Services Ltd, one of Australia’s largest agricultural services groups (no relation to Agri Firma). Investors would get a share of leasehold with the holding registered with a government agency called Landgate. The choice of Australia as an investment location, over more exotic locales, was driven by the perceived stability of the economy and the attractive land prices. “Australia
INVESTMENT What Women Want
What
WOMEN
want Facebook COO Sheryl Sandberg’s recent book Lean In has got Hong Kong back on the topic of women in the workplace. WORDS BY LIZ THOMAS
Overall, women account for 30 per cent of seniormanagement roles, compared with an international average of 24 per cent. It’s mainland China though that’s setting the global benchmark, with 51 per cent. Making the leap into Hong Kong’s corporate boardrooms, and the C-suite, is what’s been proving most difficult. As Su-Mei Thompson, CEO of advocacy group The Women’s Foundation, explains, “A lot of capable senior women are ‘stuck’ in legal, marketing and HR functions, and aren’t being given the exposure or front-line experience to prepare them for top business roles.” Entrenched gender bias and vestiges of male favouritism, rooted in historic cultural practices, arguably continue to prevent women from assuming senior roles. This is particularly a problem in family businesses. HSBC Private Bank’s recent study Women in Asian Family Enterprises found that the roles females play in such firms are often undervalued and untitled. It also found that traditional inheritance practices through
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magine strolling on various days through the markets of Mong Kok, or hopping on the MTR, and realising that four times out of 10, you haven’t seen a single woman. It sounds implausible – dystopian even – but it’s the reality of what’s happening at the highest levels of Hong Kong business right now. Women may account for around half the population, but 40 per cent of the city’s listed firms have no women at the top table, 37 per cent have just one, and only 4 per cent have a female chief executive. A little over 10 per cent of board positions are held by women – this compared with 15.6 per cent in the UK, 16.6 per cent in the US, 21 per cent in China, 37 per cent in Russia, 7 per cent in Japan, and a global average of 19 per cent, according to Grant Thornton International’s Business Report 2013. The figures for Hong Kong are far from glorious, and there has been nominal change in the past five years – but there are some positive signs.
INVESTMENT What Women Want
the male line often ignore the important contributions daughters make. The study’s authors note: “Advisors may caution that new economic realities are making it costly for families to ignore the female half of their human resources or to shut daughters out of succession plans.” Despite Hong Kong’s culture of domestic help, many mothers still feel they need to choose between a highflying career and family life. One solution for the future is increased flexible working – a Regus study found that 75 per cent of Hong Kong firms that allowed the practice saw an increase in productivity. Others see the solution in the attitude to the work/ home balance. Facebook COO Sheryl Sandberg’s recent book Lean In suggests that women should better utilise the years before motherhood, so that they’re higher up the corporate ladder and can set their own childcare terms. Another problem has been a lack of transparency around the board-appointment process: many women simply don’t know or cannot see how to reach the upper echelons of business, and some men don’t want to show them. As Stratford Finance CEO Angelina Kwan explains, “Things are getting better, but it’s one step forward and two steps back sometimes. There’s still a ‘jobs for the boys’ culture in some sectors. Many just don’t look beyond the men they’ve worked with and those they play golf or drink with.” From September 1 this year, things will have to change, as the Hong Kong Exchanges and Clearing has issued a new code provision to boost diversity. The provision requires all listed companies to report on their diversity policies and explain them. Notes Thompson, “Hong Kong has an abundant supply of highly qualified and experienced women, so it isn’t a question of supply but of visibility. “Businesses need to look outside their existing networks, ensure women are included on short lists of board candidates, and transparently advertise appointments.” A recent study by the Credit Suisse Research Institute found that from 2005 to 2011, share-price performance was 26 per cent better in companies with some female board representation compared to those with none.
In McKinsey & Company’s Women Matter report, analysis of firms across Europe, Brazil, Russia, India and China between 2007 and 2009 revealed companies with the highest share of women in their seniormanagement teams outperformed those with male-only top tiers by 41 per cent in terms of return on equity, and 56 per cent in terms of operating results. That’s not to say that there’s a causal link between gender diversity and improved financial performance – there’s no definitive proof that bringing in more women will guarantee a better a bottom line – but simply expanding the accessible talent pool can only be a healthy business approach. HSBC Hong Kong chief executive Anita Fung explains, “Companies that want to compete need to function as a talent incubator and as a meritocracy, because the pressure of finding and retaining good people is increasing, especially in mainland China. “Organisations that discriminate against women are forced to select employees from a smaller field, reducing their ability to find top performers.” To its credit, the Hong Kong business community has already started to take action, implementing a voluntary code of conduct for search agencies looking to fill board places and board-director training programmes. The 30% Club was launched in the city in March, with more than 40 founder members – chairs of leading firms publicly committed to encouraging increased gender balance on boards. Thompson, who helped set up the organisation, insists that working within the industry to drive change and keep the topic on agendas makes more sense than to picket from the outside or enforce arbitrary quotas. Earlier this year,Virgin chief executive Richard Branson controversially suggested laws should be changed to “force” equality in the C-suite. He said, “I’d encourage companies to work really hard towards getting a 50/50 split of women on their board – even to the extent of encouraging politicians to actually change laws to force a situation to where there’s 50 per cent women on boards.” Norway and Sweden have already imposed similar legislation, requiring that boards of directors be at least 40 per cent female, and Branson argues that businesses there are better for it.
4%
The percentage of Hong Kong businesses with a female CEO
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Case study Susan Yuen Hong Kong CEO, ANZ Why did you choose a career in finance? I was educated in the UK and upon graduating, I returned to Malaysia and started a job at Maybank at a time when very few women were present. I was attracted to the financialservice industry because I wanted a career that would provide me with the opportunity to make a difference. Did you experience any discouragement to your progression in your early career? What was the biggest hurdle you faced? Banking is a male-dominated industry. In most banks, depending on the leadership, a female is probably less favoured than a male, and while this was a hurdle, I wouldn’t say that it discouraged me. I took it as an encouragement to perform better and establish a consistent track record. Have you experienced any discrimination in your career? I did feel that my opportunities in Malaysia were limited, for various reasons. If I had ambitions to progress further, I had to take risks and find opportunities outside of Malaysia. When ANZ offered me an opportunity, I took it. That move meant that I had to change organisations, leaving behind a track record I’d spent years building; I had to change the role that I was doing, from managing director for global banking to chief of staff for the CEO of Asia-Pacific; and I had to uproot myself and move to Australia.
What advice would you give senior business figures about the importance of women at the top of the workforce? Organisations need to be bold to give women opportunities. Women bring a different perspective that can be very refreshing and beneficial to businesses. As a woman, I believe I use more empathy to lead the team. I listen to my people, and we have regular dialogues. My leadership team complements me. It’s by nurturing this team effort and team work that we make our business successful. A class-A team should have diversity, a variety and cross section of talent from all walks of life to bring in different perspectives and connectivity. This is because our customers are also diverse.
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France has given its firms until 2020 to meet the same legal threshold, while in the UK, FTSE 100 companies have been given a target of 25-percent female directors by 2015, though this is a voluntary process at present. Enforced quotas represent an unlikely future for Hong Kong, as many senior business figures feel it could lead to tokenism. Nicholas Sallnow-Smith, chairman of The Link Management Ltd, said he would be concerned about external interference on the rights of the shareholders of the company. Speaking at the Asian Investment Conference, he added that the issue went beyond gender diversity: “What we’re trying to get to is better board effectiveness. You need to have a board that’s more reflective of the community in which it does business.” R
What advice would you give young women coming into your profession today? Women can be as ambitious as men. The great change in recent years is that women now have similar access to higher education. My advice to young women today is to be who they are, and maintain their values and integrity. This is something I learnt very early on from my mother, and it has helped me throughout my career. Women do not need to replicate the behaviour of men to be successful.
INVESTMENT Stamps
Attention The humble postage stamp may not seem the archetypal investable asset but a growing number of collectors and investors are saying otherwise. words by ben robertson
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t was June 2007 and bond fund legend Bill Gross had just auctioned off his collection of rare British stamps. Bought by Gross over several years for a total of USD$2.5m the collection’s final sale price topped USD$10m. “It’s beyond my expectations. It is four times profit. It is better than the stock market,” a jubilant Gross told the media. It is a story that has become legend in the growing world of stamp investments. Once easily dismissed as a whimsical pastime, stamps are now accepted as a viable member of the alternative asset class club. The move towards tangible assets, such as art, wine, and vintage cars, with a track record of inflation beating performance has been a common investment theme in recent years. All once enigmatic and impenetrable realms of the investment universe, the expansion of professional money managers and advisory firms into this space has been the key to creating products and services accessible to a wider market.
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Trading in collectable stamps since 1856, Stanley Gibbons is the only firm to actively advise on investment in rare stamps. Awarded the Royal Warrant for services to philately in 1914 by King George V and creator of the “bible for stamp collectors”, the annual Stanley Gibbons stamp catalogue, they last year opened an office in Hong Kong to service growing international interest, including an estimated 18 million Chinese philatelists. There is now a huge world of stamps available since the first stamp was issued by Great Britain back in 1840 – the iconic Penny Black bearing a side portraiture of a young Queen Victoria. However, like fine wine or art, only a very small percentage of stamps on the market are classified as investment grade. Choosing the right ones are where the experts come in. “Stanley Gibbons has over three million stamps in its stock. At any given point in time. Only around 500 of them would be investment grade,” says Marco Kaster,
A QUICK GUIDE TO STAMP INVESTING 1. RARITY Invest where there is a small number of surviving examples or they are unique.
2. CONDITION Invest in the best quality examples. Many factors influence the condition of a stamp, from the margins around it to the gum on the back.
3. AUTHENTICITY Ensure authenticity can be proven. Seek items with documented history and provenance.
4. LIQUIDITY Invest in areas where there are a healthy number of collectors.
5. PRICE Seek to buy at below fair value.
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the investment director for Stanley Gibbons in Hong Kong. Factors that determine the investment potential of a stamp include rarity, condition, market demand, and liquidity. “When selecting stamps for investment the first thing to do is look at these criteria,” says Mr. Kaster. Most rare investment grade stamps are in perfect unused condition with the margins around the stamp (early stamps were cut by postmasters and had no perforations), freshness of colour, perforations for later stamps, and gum on the back all immaculate. “Stamps will be graded according to their condition and there is a considerable difference in value between stamps in fine condition and those that are classified as superb,” says Mr. Kaster. This is not to say that used stamps have no value, but there are significantly less used stamps that are rare and that can appeal to collectors and investors. To find out more about the market, interested buyers can first peruse the various investment indices tracking stamp prices. The Bloomberg listed GB30 Rarities Index, which tracks the thirty most expensive rare British stamps available on the open market, grew by 68% in the last 5 years and has shown an average compound annual growth rate of 10.8% for the last 40 years. The more recently published GB250 index, which is also listed on Bloomberg and which tracks prices of all British stamps with individual values of GBP10,000 or more, has shown an average annual compound increase of 13.4% for the last 10 years. Compared against other asset classes, academic research by Elroy Dimson & Spaenjers in 2009 and released under, ‘The Investment Performance of Collectible Stamps (1900-2008)’ found that stamps had, “an annualized return of 7.0% in nominal terms, or 2.9% in real terms…
INVESTMENT Stamps
Stamps are now accepted as a viable member of the alternative asset class higher than those on bonds but below those on equities.” It concluded that stamps do offer a partial hedge against inflation and could rival equities in terms of realised performance. This is the totality of GB stamps though, not investment grade stamps, which have performed considerably better as demonstrated by the performance of both the GB30 and GB250 stamp indices. As if to prove the point, during the recent market crash of 2008, when the value of most traditional asset classes plummeted, the GB30 Rarities Index increased in value by 38.6% year-on-year with the GB250 index not far behind at 32.7%. The principle focus for investors remains British stamps. They make up approximately 80% of investment grade stamps traded by Stanley Gibbons, with stamps from the Commonwealth, USA and China making up the remaining 20%. Particular favourites are those from the reigns of Queen Victoria, George V, and Edward VIII. It is also important to pay attention to potential short-
term fads such as a recent surge of interest in stamps from the People’s Republic of China. A particular case in the point is the 1980 PRC Year of the Monkey stamp. Now selling for GBP1,600 it was trading for GBP275 as little as five years ago. However, with over eight million in circulation it is not rare enough to be considered an investment item. Stamps though are fragile things and it is vital that they are stored in an appropriate and secure environment. The ambient humidity and temperature of Hong Kong and South East Asia is a stamp’s worst enemy. Without due care, the stamp will curl and the gum will erode. A humidor at home may help but it is best to leave them with the professionals. Stanley Gibbons store at the Hong Kong airport and in the UK and provide this service including insurance at market values free of charge to investors who buy through them. Otherwise, a badly looked after stamp will simply become a very expensive dinner party joke. R
a quick guide to stanley gibbons discretionary managed portfolios
capItal gRowth plan
Investment mInImum tRansactIon Fees teRm Investment
stoRage, InsuRance and annual valuatIon Fees
Fixed 5 or 10 Yr plan
none
FlexIBle no Fixed term tRadIng poRtFolIo
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gBp10,000
- 0% if sold through auction - or - 20% of profit if sold by stanley gibbons on behalf of the investor - or - 25% of value if sold back to stanley gibbons
gBp10,000
- 0% if sold through auction none (provided portfolio is held for at least 5 years) - or - if sold by stanley gibbons on behalf of the investor within year 1: 70% of profit within years 1–3: 50% of profit within years 3–5: 30% of profit after year 5: 20% of profit - or - 25% of value if sold back to stanley gibbons
INVESTMENT Chedi Andermatt
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Swiss The new Chedi Andermatt offers a rare opportunity to invest in a second home in Switzerland. Words by liz thomas
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t’s traditionally been regarded as a financial safe haven in times of economic turmoil. But while foreign investors have long been able to make use of Switzerland’s impressive business centres, stable currency and robust economy, getting a grip on the country’s property ladder has proven more difficult. Holiday homes in the Swiss Alps are among the most sought after by Asia’s elite, but current laws severely limit the number of buyers from outside the country. Now, a rare opportunity to invest in a second home in one of Europe’s most exclusive locations is available to readers of The Reserve. The Chedi Andermatt is an exclusive, five-star, contemporary hotel-and-residence development nestled in the Urseren Valley in the heart of the Swiss Alps. Buyers will be able to choose from a diverse portfolio including hotel residences, apartments, and lavish penthouses boasting indoor-outdoor fireplaces and spectacular views. Proprietors and guests will be able to enjoy two gourmet restaurants, lounges and bars, as well as a stateof-the-art spa and health club. Olivier Croonenberghs, partner at Swiss Finance & Property AG, explains: “Switzerland is a well-run and efficient country with a high GDP per capita, high quality of life, low unemployment rate, and one of the lowest debt ratios per GDP among European countries. “Its banking sector is well developed, offering firstclass wealth-management services, and it has a strong legal framework. Its currency, the Swiss franc, has steadily appreciated versus the US dollar in the last 10 years. It’s also a strikingly beautiful and very safe country.” Opening in December 2013, The Chedi Andermatt
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Twist
will be the centrepiece of the new CHF1b Andermatt Swiss Alps Village development situated in the Gotthard region. At 1444m above sea level, Andermatt is known for its rugged high peaks, deep canyons, wild waterfalls and quiet mountain lakes. Four major rivers originate in the region – the Rhine, Rhone, Reuss and Ticino – and the area enjoys some of the finest air and water quality in the world. It has a rich heritage and has received high-profile visitors for centuries, including Charles Dickens, Queen Victoria, Richard Wagner and Elvis Presley. But while many have fallen for the region’s idyllic charm on holiday, few have been able to own property there. Restrictions due to the 1983 Lex Koller Act mean that foreign buyers have typically needed a permit to purchase property in Switzerland. Acquiring a permit is a lengthy, expensive and uncertain process, requiring the agreement of local and divisional authorities. In addition, the Swiss government recently passed a law stating that only 20 per cent of any town’s properties can be second homes. As a result of this new legislation, Croonenberghs believes, “The Chedi represents one of the last possible opportunities to purchase a holiday home in a resort area in Switzerland.”
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The hotel and residences were granted an exemption, lasting until 2030, to the permit requirement because the developer has committed to building up the Andermatt Swiss Alps Village. This means foreign investors will have the same protection as Swiss buyers, and can buy and sell these properties with no restrictions. Over the next decade the village will be built up to eventually comprise six four- and five-star hotels with 850 rooms, 42 buildings with 500 apartments, and 25 exclusive luxury villas. Switzerland has escaped most of the economic problems and debt crisis experienced by its neighbours in the volatile eurozone. Inflation has fallen to its lowest level in 50 years, interest rates are low, and demand for housing continues to increase. Swiss real-estate prices have shown a positive trend for several years, appreciating at an average annual rate of 3-5 per cent in the last 10 years. An independent report by UBS into the Swiss property market said that “investments in real estate will only pay off if prices continue rising and long-term interest rates remain low.” Croonenberghs says there’s no reason why the current upward trend shouldn’t persist. “Continued low interest rates, a positive net immigration, low unemployment rate and a moderate growth in real income constitute the
in the area that can be conquered – while novices can spend time training at the ski school, which has Englishspeaking instructors. The new Andermatt village will feature an 18-hole championship golf course, a convention centre and a cultural centre. There will be a substantial investment of approximately CHF135m to upgrade current ski facilities and improve connections between towns to create the fourth-largest ski domain in Switzerland, totalling 130 kilometres of ski pistes. Transport connections to Europe are excellent – Zurich is just 90 minutes away, while Milan is two hours by car. The private airfield in Buochs is 45 minutes away. The world-famous Glacier Express railway passes through Andermatt, connecting the city to both Zermatt and St Moritz. While around half of those currently buying up space at The Chedi are Swiss, the resort is already proving popular with global investors, with interest from Europe, the Middle East and Asia. Adds Croonenberghs, “This is an unprecedented opportunity for international buyers to purchase an extraordinary five-star Swiss property with no restrictions.” R www.thechedi-andermatt.com
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main positive value drivers,” he notes. “Since there are no signs of a change in the current fundamentals, we expect price increases to continue.” Those purchasing apartments could opt to add them to the hotel’s rental programme run by GHM, the hotel operator. As The Chedi is a branded resort, it could appreciate in value more rapidly, as it offers buyers “name recognition and availability of five-star hotel facilities, including 24-hour concierge and room service.” But Croonenberghs insists that purchasing a second home in Switzerland will be more than a simple addition to a property portfolio. “This will attract Asian investors increasingly looking for lifestyle experiences as opposed to pure investment plays,” he says. “The Chedi Andermatt stands for luxury, quality and outstanding personalised service. It will be one of the most luxurious five-star hotel-residence projects in Switzerland, offering a lifestyle experience not yet seen in the country. “The hotel features 24-hour room service, 24-hour concierge service, valet parking, free transport to the ski slopes and the village, an in-house ski centre, and dedicated ski butlers.” The more adventurous will be able to explore the ice glaciers and hike incredible Alpine passes – there are seven
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Insiders INTERVIEWS AND PROFILES
“I always loved photography. From the moment I started I knew it was what I wanted to do.” Mary Ellen Mark, p. 98
Ten minutes with... Kenneth Cheng
Star of the HK Jockey Club Equestrian Team interview by meral shannon Kenneth Cheng has already represented Hong Kong at the 2008 Beijing Olympics and the 2010 Asian Games. More recently he participated in the inaugural edition of the Longines HK Masters. Riding his new horse Jockey Club Caballo, he won the crowds over with his cool, calm demeanour – and The Reserve was waiting in the wings to find out more. Describe a typical day. I have a real routine. I’m at the stables from 7.30am. I work three or four horses from morning until midday, when they get their lunch. I give them an hour or so to digest their food, then I ride another two or three horses in the afternoon. After that I do exercises at home to build up my core muscles. Why did you choose to go into show jumping? Both my parents are riders, so it runs in the family. I’ve been around horses from a young age. I’m quite easy-going and just don’t get stressed, which are huge benefits in this sport.
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How many horses do you have? At the moment I have seven horses and two more arriving next week. Jockey Club Can Do has been my longest partnership, and with me since the Olympics. I keep a better eye on him as he helps to keep me at a high level on the circuit. What is the prime age for a show-jumping horse? Horses can jump until they’re about 18 years old – although high standards at that age are rare. Normally they start to go downhill around the age of 13, 14 or 15. The prime ages are 10, 11 and 12. What do you look for in a horse? I look into the horse’s character – they have to be cool in the head, willing to work well with the rider and be hard-working.
Of course I also watch their technique: the particular way they jump is very important. Why is show jumping so little known in Hong Kong? It takes a long time for a sport like this to grow. Hong Kong doesn’t have a great equestrian background apart from in racing. We also don’t have enough shows or circuits to keep interest levels up. I started my career in Hong Kong but was forced to go to Europe to increase my standards. We need more shows like the Longines Masters. Is show jumping a sport exclusively for the wealthy? It depends how you see it. In Hong Kong you can have a riding lesson for HK$350/hr – the same as tennis. If you want to step up to international level, then, as in every sport, you have to pay out. Who are your sporting heroes? In show jumping I look up to Marcus Ehning. Elsewhere it’s Tiger Woods. At least it used to be! Also Roger Federer. I appreciate athletes who work hard and have strong discipline. Where do you see yourself next? I hope to be in the top 50 in the world. For now, just developing a good string of horses is the most important thing. R
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What do you like most about it? Unlike in any other sport, horses give you something back.You can’t get that connection from a basketball or a tennis racket! This is also one of the few sports in which men and women compete equally. Everyone is equal here, even the horses – there are both great stallions and great mares! Also, perhaps because the sport is still small, there’s no bitterness. When you’re in the ring, it’s competitive, but off the ring, you’re just happy for each other.
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David Morris
Jewellers Jeremy and Erin Morris explain why buyers should choose pieces with their hearts rather than for investment potential. WORDS BY LIZ THOMAS
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t is a golden period for luxury jewellery – sapphires, rubies, diamonds and pearls have all skyrocketed in value. This boom in commodity prices during the economic downturn has prompted many to invest in precious gems. In November at Bonhams in Hong Kong a 43.16-carat Ceylon sapphire ring sold for more than HK$12m, while Christie’s sold an Archduke Joseph diamond for close to HK$167m. But leading jewellers Jeremy and Erin Morris, of British boutique David Morris, say that while savvy investors here can make great returns, they should look beyond the stones and see luxury jewellery as “wearable art.” “There’s an underlying strength in the market for high-net-worth individuals who want to put their faith into something tangible,” notes Jeremy. “But shoppers in Hong Kong pay more attention to the stones and less to the styling. My challenge is to get people to buy great jewellery rather than just great stones.” Wife and business partner Erin adds that some purchases should be governed as much by your heart as the return on investment. “When you’re buying jewellery, it should have an emotional pull at your heart,” she says. “Is it to celebrate an occasion? Or is it just because it’s the most beautiful piece you’ve ever seen and you can’t stop thinking about it?” It’s more than 50 years since Jeremy’s father, David Morris, first established the firm in London’s jewellery mecca of Hatton Garden, after honing his craft from the age of 15. He worked alongside wife Suzette Morris to build up the company.The designs quickly attracted the attention of Hollywood stars, royalty, and even heads of state.
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The Family Jewels
INSIDERS
INSIdERS David Morris
“The fact that we’re a family firm is pivotal to our success” Elizabeth Taylor, Queen Noor of Jordan, Catherine Deneuve, Pakistan’s late Prime Minister Benazir Bhutto, and the Prince of Wales were among his clients. Jeremy, who took over as managing director and principal designer 10 years ago, has built on these starry relationships – creating pieces for leading figures in film, music and fashion such as Gianni Versace,Victoria Beckham, Barbra Streisand and Madonna. This is a company that is steeped in family history and traditional values, but also understands the importance of remaining relevant and connected to wider culture. The flagship store is now based in New Bond Street, a must-visit strip of luxury retailers and high-end fashion in the UK. Erin, a trained gemmologist, instigated David Morris fashion collaborations with British designers Julien MacDonald, Jonathan Kelsey and Giles Deacon. David Morris jewels have featured in a number of James Bond films. These connections have helped this small family business make some noise in a market dominated by big brands such as Cartier and Van Cleef & Arpels. Jeremy says that being a family firm is what sets David Morris apart and enables the brand to deliver more to the customer. As he explains, “The fact we’re a family firm is pivotal to our success.There are very few brands like ours that are family owned. It’s part of our allure.The decisionmaking processes in family-run businesses are quicker because there are no layers of management to cut through. Ours is a little bit more of an authentic experience for people who want to buy luxury jewellery.” Jeremy spent five years training in Paris and knows every stage of the process. This extensive knowledge
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underpins the way things are done at David Morris. “If you want something designed, then I’ll get out my sketchbook and I’ll design it on the spot,” he says. “If you go to a super brand, who do you talk to? You don’t talk to the owner. If you talk to the head of design, then they won’t necessarily know about the stones. I’m going to know about the stones, the design, the manufacturing, the price. It’s a one-stop shop. If you’re talking to any of my sales people, then they’re going to call me directly if there are any questions. The lynchpin of a family brand is to be in control of your own destiny. There’s no way for the brand to be diluted. If people want to buy David Morris, there’s only one place they can go.” Erin adds that being a husband-and-wife team injects an energy and focus into the business. She says, “The passion that we both have for creating beautiful pieces of wearable art is a 24-hour, seven-day-a-week interest that never goes away.” Jeremy’s daughter Phoebe has also started handling public relations for the business – bringing the running of the David Morris firm into its third generation. The couple say that while they’re proud of the firm’s heritage, they believe innovation is important and have invested in technology and design. Expansion – in selected locations – is a key part of building up the brand in the 21st century. They now have stores in Moscow, Dubai, Riyadh and Doha, with a new venture in Abu Dhabi planned for later this year. Jeremy insists that each location has unique pieces but all are made for women who enjoy wearing statement jewellery. The Hong Kong boutique, at the Peninsula hotel,
the right places and people to work with,” notes Jeremy. “There’s definitely a huge market out there, but this is not something that can happen overnight. We’ve done little exhibitions and shows in Shanghai and Beijing. We’re slowly making inroads and will open there when the time is right.” He believes ultimately that the quality, integrity and style of the products will ensure the company’s success. “It may not be the cheapest but it will always be the best that money can buy,” he says. “That is my brand position. In 50 years I hope that remains the company ethos – the rest is in the hands of the gods.” R
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in June put on sale the Pagoda Collection, featuring Colombian emeralds, Burmese rubies, Kashmir sapphires, and coloured diamonds including an 8.88-carat yellow stone. China seems the next logical step in the company’s global strategy, but it’s a difficult market to crack for a smaller brand when the big names are already well established. In the first six months of 2013, demand for polished diamonds grew by nearly 13 per cent in China to around HK$2.3b, and the nation is now one of the world’s biggest importers of blue sapphires. “I think the demand is there in China. It’s just finding
sales@myhfinewines.com
DAy in the LIFE What’s in an average day for the world’s top business leaders and kings of industry? There’s no such thing, according to the selection we speak to over the following pages
INSIDERS
Day in the Life
Christina Dean Founder and CEO, Redress Age: 34 Dr Christina Dean, founded Redress in 2007 in Hong Kong. The NGO’s mission is to promote environmental sustainability in Asia’s fashion industry. Dean is a regular speaker at various seminars and has received much recognition for her work, including being listed by US online magazine Coco Eco as one of 2010’s Most Influential Women in Green and by UK Vogue as one of the UK’s Top 30 Inspirational Women. Prior to founding Redress, Christina was a journalist and a practising dental surgeon.
I wake up at… 5.45am for my power hour of work. I make a wickedly strong coffee and position myself in our study overlooking the beach near Tuen Mun for my most intense hour of the day as the sun comes up.This is my best and most personal time of the day and I relish it.The house is sleeping, my brain is on fire and I’m highly motivated. My kids wake up at 7am and then I play puppeteer to three kids, two helpers and one husband as we feed, dress, pack, and deliver them to school in under one hour.
I wake up at 5.45am for my power hour of work, my most intense hour of the day
For breakfast I… usually don’t eat because of the time. There are too many other mouths to feed and my two cups of coffee give me enough caffeine and calories to get me to the office. But if I do, it’s an omelette. My two helpers run the roost. I haven’t cooked a meal since landing in Hong Kong eight years ago.
tedious to speak about kids at work. They’re a topic that should be reserved for home.
I get to work by… I’ve always been averse to having a driver but since moving to Tuen Mun, we need someone to ferry us all around. So my driver takes me to work in the same trip as dropping my three kids off at school. I use the 45 minutes in the car to Central as quality time with my daughter, who goes to school on the Peak.
I start the working day by… Every day I start with my list of tasks to do, which I never get through. I’ve developed a constant baseline of anxiety about my responsibilities. I generally prefer making phone calls to writing timeconsuming, and often ineffective, emails. Work could be done much faster if we used mouths more than fingers.
My work uniform is… This year for the entire year, I’m only wearing dumped clothes that were discarded or donated as part of my 365 Challenge, in an effort to raise awareness about our rampant clothing-waste rates. This means that some days I look like a middle-management office worker, a construction worker or a hard-core fashionista. I’ve come to realise that it doesn’t really matter what you wear – it’s how you carry yourself that matters.
The most important thing to achieve every day for me is… I never achieve what I want to in one day – hence needing my power hour. Now that we have a larger and more senior team, I have more internal commitments to achieve for us, such as securing sponsors, partners, budgets and grants. So my role has shifted to some of the jobs I’m bad at (budgets and accounting) in order to allow the entire team to execute. I’ve learnt that many start-ups fail because the founder doesn’t shift from being a power-hungry, handsin-all-the-pies type of leader. Start-ups only grow if the founder empowers their team to do the better-fun work.
My office is… within ADM Capital Foundation’s office in Central. I don’t have any pictures of my kids in my office. I find it rather clichéd to have personal photos up. I’m in the office to work and I don’t need photos of my children smiling up at me. I also happen to find it very
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For lunch I… bring my own in with me every day so that I don’t waste time leaving the office and queuing for overpriced food, the sources of which I’m dubious
I generally prefer making phone calls to writing timeconsuming, and often ineffective, emails. Work could be done much faster if we used mouths more than fingers
If you’re having a great day at work, what is it about it that makes it good? I’m having a great day when companies or people come back with good news about proposals or ideas we’ve created for them. I get stressed when… I have to balance my maternal instincts with my professional instincts. I usually work until… Some days, I work until about 3.30pm and then I hop into the car with my sleeping daughter, who’s by this time on her way back from school. I set any phone calls to take place during the 45-minute drive home to Tuen Mun. I then watch over my kids, which generally means rallying them to do their homework, music or extra Chinese lessons. I’ve really experienced that the more effort I put into my kids, the better they get. To relieve stress I… I’m in a bad habit of wanting a glass of oaked Chardonnay to take the edge off my day. By 7pm I’m
not sure if my stress levels are related to my kids or my work, or the combination. I’ve always tried to consider yoga or meditation, but I’ve never been able to squeeze anything this quiet into my day. On weekends I go for a bike ride, which is exhilarating. It’s 1.5 hours of me-andthe-road time. After work I… very rarely go out. My husband and I will threaten a date night, but it only materialises at times of urgent marriage maintenance rather than as a matter of routine. I find I’m too busy with life in general to organise a social life either, so this part of my life is very haphazard, and lonely at times. For dinner… My hubby and I eat together most nights. I may squeeze some more work in at night-time, but most nights my brain’s too tired for any fruitful work. This means that if I do work, it’s more likely to be Skype calls or reading, or home or husband admin. A life philosophy I try to live by every day is… It’s not the length of the carrot that counts, it’s how good it tastes. My dad used to tell me this when I was growing up. I never understood what he meant by it until I got older.
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about. I’m extremely bad at networking or having lunch meetings. I don’t ever set lunch meetings unless there’s an explicit purpose, or I think I’ll get something that I really want or need out of it.
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INSIDERS
Day in the Life
Alexandre Errera Founder and CEO, Artshare.com Age: 26 I wake up at… My alarm clock goes off at 7am every morning. A considerable upgrade on my wake-up time when I was a trader in London, which was 5am. For breakfast… I always go down to Classified, which is on my doorstep, and have a croissant and a coffee to take away. I get to work by… My office is five minutes from home, so I just walk every day. My work uniform is… I usually just wear jeans (7 For All Mankind) and a shirt (usually Hilditch & Key). I always keep a suit jacket in my office, just in case I have to see a client. My office is… on Queen’s Road Central. Wood tiles, white walls, it’s very minimalist. What I like the most is that it’s extremely bright – there’s no need to put lights on during the day. I start the working day by… I first review all the emails from overnight. I then have a morning meeting at 9am with my team where we go over all the tasks for the day.
since I’m starting a website! The most important thing for me to achieve every day is… to meet with collectors and make sure that everything is ready for the launch. With the website now going live and the first exhibition to be shown very soon, there are a lot of things to take care of. For lunch I… usually have lunch with collectors or with friends who work in the neighbourhood. I end up going to Pastis on Wyndham Street quite a lot. I also like Mana! on Lyndhurst Terrace, especially their back garden. What time of day do things get tense at work and why? Usually around 4 or 5pm. That’s when people in Europe wake up and fire off emails, just like I do when I wake up in Hong Kong. If you’re having a great day at work, what is it about it that makes it good? The sense of achievement. When you’re working for your own company, every task achieved becomes much more personal. To relieve stress… I go running on Bowen Road.
When you’re starting a new company, it’s quite hard to switch off
I usually work until… 9pm, I guess. Then it’s time for dinner, and if I don’t go out for a drink, I’ll just continue working from home. When you’re starting a new company, it’s quite hard to switch off.
SNAPSHOT: Favourite restaurant in town: Chicha Best holiday destination: Trisara resort, Phuket Favourite fashion brand: Zegna Newspapers I read: IHT, FT Book I’m reading: Hong Kong et Macao, by Joseph Kessel Watch I wear: JaegerLeCoultre Reverso Biggest indulgence: Drinking great wine with friends Phone brand and model: iPhone 4S
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I couldn’t live without… The internet. Whether it’s on my iPhone or computer, I stay connected pretty much all day long. Good thing, I guess,
INSIDERS
Day in the Life
David Yeo Founder, Aqua Restaurant Group Age: 55 I wake up at… It varies. Any time from 7am to midday – mostly depending on whether I’ve been on the phone to the UK overnight. That’s a common occurrence at the moment as we’re opening two restaurants in the Shard this summer. For breakfast I have… always an espresso (not Nespresso though – the real stuff!) and very occasionally some muesli if I’m feeling hungry. I get to work by… walking – a very short distance as I work from home! The time I start work is governed by my beautiful dogs: once they’ve calmed down and stopped jumping around, I can get down to business! My work uniform is… all about comfort – I spent many years as a corporate lawyer, envious of my clients who didn’t have to wear a suit and tie, so if I’m not out at meetings, it’s definitely jeans and T-shirt.
The most important thing to achieve every day is… I don’t have a daily goal; rather, it’s important to me that every day I move one step closer to one of our longterm goals. For lunch I… usually have a simple salad with no dressing and some grilled fish. What with the entertaining I often do in our restaurants, as well as tastings, when I eat alone I keep it very simple and healthy. If you’re having a great day at work, what is it about it that makes it good? Receiving great feedback about one of our sites from a customer always makes a day good. I get stressed when… I’m working on a design for a new restaurant and lose inspiration. I’m always determined to design from the heart and make sure all our sites are different – so this can sometimes be a difficult process. I usually work until… the jobs of the day are done!
My office is… my beautiful large dining table, very similar to the one in the private dining room at Armani / Aqua. I start the working day by… Every day is different, which I love – I could spend the morning thinking about the designs for a new restaurant, reviewing our trading figures, or attending a tasting.
To relieve stress... I go for a jog with my dogs in Aberdeen Country Park. After work I… Every evening is different. I will quite often have a social occasion or work event, but as much as I can I like to stay in. I love to cook so try and make dinner at home as often as possible.
I couldn’t live without… being inspired to create. I’m in bed by… around 2am, although this often depends on whether I need to make calls between time zones. A life philosophy I try to live by every day is… I try to give back to the world as least as much as I take out of it.
Mark Greedy Chief Executive, Elite Resorts Age: 57 I wake up at… I have a lot to achieve each day so I’m a very early riser and generally get up at 4am. I may return to bed for a while before I’m fully up and around though. For breakfast I have… toast and the Aussie favourite: Vegemite. Before breakfast I walk with my wonderful wife around the ocean and garden foreshore of Labrador Park and Keppel Bay Marina, Singapore. Quite beautiful and uplifting.
I have a lot to achieve each day so I get up at 4am
I get to work by… walking through our apartment to my home office. With Elite we all work remotely. This is an excellent model for the early stages of such a venture, when work really does not finish and needs to be blended with life.
I start the working day by… answering emails before moving to my priority list for the day. I couldn’t live without… my wife, who’s also a part of Elite. As a published novelist, she’s essential to our site and our blog. The most important thing to achieve every day is… The company I founded three years ago has grown significantly in such a fast time. Every day I try to seek out further growth opportunities available to us. What time of day do things get tense at work and
why? Generally I’m not tense, as I am organised and have anticipated concerns well in advance. I get stressed when… capital isn’t readily available. Other than that, all is possible. I usually work until… about 7pm each evening, seven days a week. After work I… dine and drink at home. An outstanding chef and good wine from Yabby Lake, Australia. I’m in bed by… about 10 or 11pm midweek. A life philosophy I try to live by every day is… disciplined creativity. Understand the game and what is needed to win; develop those skills, and then add a splash of my own colour.
SNAPSHOT: Favourite restaurant: Kilo, Singapore Favourite fashion brand: Paul Ropp of Bali Newspapers I read: IHT, Sydney Morning Herald, Straits Times Book I’m reading: My wife’s newest manuscript Watch I wear: Breitling Biggest indulgence: I do enjoy Silversea Cruises, and have cruised on them at least 10 times Phone brand and model: Apple i-something!
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My work uniform is… No uniform and very casual. One cannot be marketing and curating luxury and travel with unliberating clutter.
INSIDERS
Day in the Life
Lynn Grebstad Co-founder, Grebstad Hicks Communications Age: Forever young I wake up at… I’ve become a real early bird; I love the peace and quiet of the morning. Besides, I have a boisterous Labrador who wakes me early, hovering at my bedroom door desperate for his breakfast. I’m at my most productive in the morning. I do most of my new business proposals then, when I can really think about a client and what we can deliver for them. For breakfast… My helper brings me my one coffee a day, Nescafe with Coffee-mate – not very sophisticated, I know. Breakfast isn’t a big deal for me. Just a couple of pieces of wholegrain toast, a slice of cheese or ham and a few thick slices of fresh tomato – a remnant of my Mediterranean upbringing. I get to work by… I take a cab, usually with my husband – he’s in the next block to us. We both like to be close to work; I spend quite enough time at the office as it is! My work uniform is… I’ve always loved wearing a uniform, since working for airlines for many years. So I create my own sort of work uniform, which is a fitted, cap-sleeved dress and short tailored jacket to pop over the top. High heels, and I’m ready to go! My office is… in a cool, renovated block in Wan Chai. It’s been a lucky building for my business partner and I and I’m reluctant to move, but we’re bursting at the seams. My own office is decorated with a huge Andy Warholstyle painting in yellow of Princess Diana, huge fashion posters and Scavullo’s famous 1960s image of a model on Pottinger Street. I start the working day with… a few productive hours of peace and quiet on my laptop at home. If I’ve got time I walk my dogs for half an hour up on Bowen Road and do 10 to 15 minutes of stretch and tone while I throw a tennis ball for my dog. It’s very social up on the path in the morning, and a fantastic start to the day. The most important thing to achieve every day for me is… We’re in the PR industry, which means our business is about service. It’s important for me to answer emails quickly and to make sure we seize the opportunities many of them bring. Also, mentoring and developing our people, sharing my many years of experience in the travel and hospitality and PR business with them. I also love brainstorming with clients and involving them in the very important creative side of our business.
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Most of our business comes through our contacts, so networking is paramount in building our brand and business. For lunch I… entertain a lot. Our PR business includes a number of great restaurant clients including Aqua Group, Sevva, Gaia Group and Zuma, so as often as possible my partner and I are entertaining clients, our media contacts and such. Networking is our business, and I can find out more in a lunchtime talking than from a string of emails. What time of day do things get tense at work and why? When I have a proposal to finish and submit, and I know I have to leave early for an event. If you’re having a great day at work, what is it about it that makes it good? Just looking around the office and seeing the happy people working in our company. And of course, when my partner pops his head around my door to tell me we’ve just won a new client. I get stressed when… I know I have to finish something promised to a client, and I look at my diary and it’s back-toback meetings, lunch and more! I usually work until… I almost always work late, because I love to try to get my email inbox down to a manageable size, and I like to clear the decks so I can hit the ground running the next day. I switch off by watching a movie in the evening, or catching up on the papers or magazines. I never look at my BlackBerry or iPhone before I go to sleep. To relieve stress I … walk my dogs in the country park. Or have a drink after work with a friend in the FCC
[Foreign Correspondents’ Club] or wherever.
As my husband says, trying to get me out of a party is a waste of time!
After work I… If I’m not out for an event or dinner, which is usually two or three times a week, I’m off home to chill. The FCC is my regular drinking haunt; the Main Bar is one of the best bars in the world, always filled with friends, acquaintances and interesting people. Otherwise I love to take friends and out-of-towners to the terrace at Sevva in Central; it never fails to knock their socks off! For dinner I… At home we eat very simply and healthily – fish, chicken and mountains of veggies. I am in bed by… Usually by 11ish or very late if I’ve been out partying. As my husband says, trying to get me out of a party is a waste of time! A life philosophy I try to live by ever day is… Never put off until tomorrow what you can do today! THE
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INSIDERS
Day in the Life
Olivier Bonnefoy Director/Owner, Gentlemen’s Tonic Age: 39
I wake up at… about 7.30am, and kiss the back of my wife’s neck to get the day going. If I don’t go the gym, I take a long shower at home, trying different products that formulators for Gentlemen’s Tonic have submitted to the company to test and approve. For breakfast I have… coffee, some fruit or toast, and that’s it. I’m simply not hungry in the morning and have never been a big breakfast person. I had a nutritionist for a while, who I think gave up on me because she couldn’t get me to eat three square meals a day! I get to work by… I usually bike to work. London has a number of parks and green spaces to bike through and fortunately there’s a lot of that between my house and my office in the West End. My work uniform is… My look is smart-casual. I like accessories and wear cufflinks from Dunhill and Cartier and belts from Maison Martin Margiela and Loro Piana. Shoes are also a small guilty pleasure, and I wear brands like Car Shoe, Bottega Veneta and Carréducker, who make the most amazing bespoke shoes. Of course, on certain occasions, I will wear a suit and have several beautifully tailored Huntsman and Gieves & Hawkes pieces to choose from. My office is… open plan and growing. I sit more or less in the middle of it all as I like to be in the thick of it. It reminds me of my days in banking, working on a trading floor.
It’s old-school but I couldn’t live without my Moleskine notebook!
I start the working day by… At least twice a week I’ll kick off my day by visiting my sites in London – speaking to my therapists, barbers, reception staff and managers to get an understanding of any current problems, get client feedback or simply to have a treatment, especially if we’re looking to launch a new service. Otherwise, I head straight into the office. I couldn’t live without… It’s probably so old-school to say this, but I couldn’t live without my Moleskine notebook!
The most important thing to achieve every day for me is… to ensure that projects are completed. Gentlemen’s Tonic is currently building or in the planning stages for three new sites in Qatar, the UAE and India, and has been in discussions about a further five. For dinner I… Though I tend to eat out quite a bit at night, I’m also an excellent cook and love trying different things out, with varying degrees of success. I’m in bed by… I try to be in bed by 11pm and usually asleep by midnight, but it doesn’t always work that way. A life philosophy I try to live by every day is… Never let defeat rob you of success.
SNAPSHOT: Favourite restaurant in town: London is awash with amazing restaurants at the moment. My current three favourites are Barrafina, Pearl and Roganic Best holiday destination: I’ve become a huge fan of Mexico, and my wife and friends recently took a beautiful house overlooking the Pacific Ocean in Colima state, which was absolute paradise. Some of the friendliest people on Earth and the most beautiful sunsets I’ve ever seen! Favourite fashion brand: Marc by Marc Jacobs, Loro Piana and Neighborhood Newspapers I read: The Economist, The Drudge Report, IHT, The New York Times and Vanity Fair
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INSIDERS
Day in the Life
Johnny Zhang Coach of China Rugby Team Age: 38
I wake up at… 7am, usually woken by my five-year-old son. If I’m out of town and in training, the alarm clock usually does the trick. No matter where I am, at home or in a hotel, I make my own bed!
After work I… usually go home to have dinner with my family and spend some quality time with my son. A life philosophy I try to live by every day is… No pain, no gain.
For breakfast I have… Being Chinese and from Beijing, I love noodles, congee and meat buns. I don’t have a particular routine to watch in terms of losing weight, I work until but I’ve managed to keep in the range which is one of 86-92 kg for the past 20 years.
6pm, of the perks of being a rugby coach!
My work uniform is… sportswear, obviously! My footwear is by Adidas and the rest is usually Nike. I used to wear a watch when I was younger, but once I got my first mobile phone, I decided I didn’t need one anymore! My office is… on the rugby pitch!
I start the working day by… changing into my coaching kit, and then having a look at the day’s training plan and schedule. I couldn’t live without… my computer. I love playing video games, especially shooting and role-playing games. The most important thing to achieve every day for me is… to design a training scheme every day for the players, and then to record and summarise their performances, looking for areas of improvement. For lunch I… eat in the canteen. What time of day do things get tense at work and why? I get tense whenever my boss appears, as I’m afraid he won’t be satisfied with my work! If you’re having a great day at work, what is it that makes it good? It’s when I see that the training plan I’ve put together is working well and the players are putting in a good session. I usually work until… 6pm, which is great, and one of the perks of being a rugby coach! I do try my best not to think about work once I leave the pitch.
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SNAPSHOT: Favourite restaurant in town: Why go out when my wife is the best cook in the world? Best holiday destination: Shandong in China Favourite fashion brand: Nike Phone brand and model: iPhone 5
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INSIDERS
Day in the Life
and to think of ways to do better in all of our units.
I’m on my BlackBerry until midnight. I can never totally switch off
For lunch I… generally have a salad or a sandwich. I try not to go out for lunch if I can help it, but often pop home for a quick bite if I can.
Matt Hermer
What time of day do things get tense at work and why? I feel everyone’s energy levels rising in the afternoon when all of our sites are open and people have a tighter timescale to get things done!
CEO, Ignite Group / Boujis Hong Kong Age: 41
I usually work until… 7pm. Then I’ll be on my BlackBerry until midnight. I can never totally switch off.
I wake up at… My 16-month-old son Max is my alarm clock. Any later than 6.30am is a lie-in. For breakfast I have… coffee at my desk at 9am, and breakfast shortly thereafter. Breakfast is purely functional and not of interest to me. I get to work by… walking. My office is two minutes from my house.
To relieve stress I… go to the gym, Kx. It’s just next to my office, so I go a minimum of three times a week. After work I… cook dinner for friends or go out – often to my own establishments. I love to have dinner with friends at the group’s sustainable eatery, Bumpkin. For dinner I… love to cook at home or check out new restaurants in town – I like to check out the competition! I am in bed by… midnight.
My work uniform is… mostly tailored shirts with jeans, loafers and a cashmere sweater – always paired with my Vintage Rolex (from my birth year) given to me by my wife on our wedding day. My office is… in Chelsea in an old converted church. It’s open plan and bright and airy, and I have pictures of Max and my wife on my desk. I start the working day by… checking emails on my BlackBerry as soon as I wake up – a bad habit. I couldn’t live without… sleep. The most important thing to achieve every day for me is… to motivate my fellow workers, check on numbers,
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A life philosophy I try to live by every day is… Do your best and enjoy life.
SNAPSHOT: Favourite restaurant in town: Scott’s in the UK; the China Club in Hong Kong Best holiday destination: Prince Maurice, Mauritius Favourite fashion brand: Loro Piana Newspapers I read: The Times, FT Book I’m reading: Magazines from the Sunday papers, unless I’m on holiday, which is when I devour books as I have more time! Watch I wear: Vintage Rolex Biggest indulgence: Travel and art Phone brand and model: BlackBerry
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INSIDERS
Day in the Life
Graham Steele Director, White Cube Age: 30 I wake up at… 8.30am, to the incessant beeping of the BlackBerry. I spend 30 minutes answering emails and dealing with New York and LA. Then I either go to the gym for a training session or spend some quiet time in the morning preparing for the day. For breakfast I have… I eat two meals a day, and breakfast isn’t one of them.
I eat two meals a day and breakfast isn’t one of them
I get to work by… I like walking to work when it’s not too hot, which is why I chose to live in Sheung Wan. I like the neighbourhood, because it feels like a Chinese Notting Hill a bit – which is where my house in London is. you?” goes rather a long way. My work uniform is… I’m usually found in a tailored shirt from David’s at the Mandarin Oriental or Pye in Pacific Place, a black jean from Prada or Dior, and a YSL or Prada jacket. Shoes are always Gucci or YSL or Prada. Watch rotates from Rolex to Panerai, with Bulgari for the beach and Junghans for the art crowd. My office is… wherever I am. I spend so much time travelling, I can have a meeting in an airport lounge or on the beach in Dubai. The one thing I need is battery power, so I’m always shoving a power chord in my pocket before going anywhere. I start the working day by… taking at least two minutes to speak with the people I work with about their lives and my own, before launching into the 10 million things we need to do. “Good morning, and how are
For lunch I… usually dine with clients. In Hong Kong I like going to the Four Seasons’ Chinese restaurant for dim sum, or if someone is more casual, Kee Club as it’s [famous restaurant] Yung Kee’s food. Da Domenico is a favourite, and I love Sushi Sase on Hollywood Road for great Japanese. What time of day do things get tense at work and why? Because I work with artists and clients from San Francisco to Seoul, Buenos Aires to Oslo, I’m pretty much always on. But the real stress comes when London wakes up and thousands of emails start coming in from home base – all at a time when you’re contemplating that first Grey Goose and soda. To relieve stress I… alternate between healthy activities like yoga, running and Pilates, and unhealthy activities like enjoying drinks and rich food. A life philosophy I try to live by every day is… It’s not rocket science. I’m not curing cancer, I’m not operating on someone’s heart. It’s important, but it’s not that important. R
SNAPSHOT: Favourite restaurant in town: Man Wah Best holiday destination: Amanwana – a private paradise Favourite fashion brand: Prada Newspaper I read: New York Times Book I’m reading: The Master and Margarita Watch I wear: Favourite at the moment is my new grey-faced Oyster Biggest indulgence: Travelling. I’m an Aman junkie Phone brand and model: BlackBerry forever!
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BerT STern
An exclusive with the photographer behind iconic Marilyn Monroe shoot, The Last Sitting. interview by dominique afacan Bert Stern, or “the original mad man,” as a new documentary has dubbed him – has photographed everyone from Audrey Hepburn to Madonna. He’s credited with making vodka sexy, and shocked America with his movie-poster portrayal of Lolita. Perhaps most famously, on assignment for Vogue in 1962, he conducted a marathon photo shoot with Marilyn Monroe just six weeks before she died. The Reserve caught up with him to find out more.
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on marilyn You’ve photographed everyone from Audrey Hepburn to Madonna. What was it about Marilyn that made her stand out from the rest? She was the most alluring and interesting subject at the time and will remain an icon forever. Vogue had agreed to my idea to approach her, and she gave me unlimited time with her for six weeks to capture these images. It was a very small set, which made it extremely intimate between us. Rumour has it that Marilyn is wearing no make-up in the shots. How did this come about? She looked amazing without it, and I told her so. She felt comfortable with just a little. How did you go about gaining Marilyn’s trust in order to get such intimate shots? A case of Dom Pérignon went a long way, and she trusted me. Do you feel you developed a friendship or even a relationship? Our relationship was between her and my eye through the camera. What gave you the idea to play with the images and alter their natural state? I wanted to make a more contemporary collection out of the images, and reinvent her again as the icon she is. It was the 50th anniversary of her death, and I wanted to commemorate that.
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on photography You had no official training as a photographer – what do you think it was that made you so good? I fall in love with all my subjects, which makes me see the utmost beauty in all of them. How did you meet Stanley Kubrick, and how did he influence your career? I was working in the mailroom at Look magazine, and he was the staff photographer. We used to have dinner together – he was brilliant. I loved working with him, and we connected on a higher level. You were a successful commercial photographer – how did you make the leap into portraits? Everything’s the same really. It’s the relationship between me and the subject that makes it magical. Photography has progressed hugely over the last few years. Have you updated your methods or are you sticking to tradition? I still shoot film, but I love digital and playing with new mediums. I use a Hasselblad today.
on celebrity Besides Marilyn, who was your favourite celebrity to photograph, and why? Gary Cooper, because I like cowboys! You photographed Lindsay Lohan recreating The Last Sitting – how did she compare to Marilyn? I loved her. She was a completely different being but wonderful. Is there any one celebrity you’ve photographed who’s been a disaster to work with? Mary Ure [Sons and Lovers, Where Eagles Dare]. She was extremely difficult. You’ve photographed some of the world’s most beautiful women. Did you find yourself falling for any of them? All of them. R
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member news The Reserve has exclusive access to these artworks. If you’re interested in owning a piece of Marilyn Monroe heritage, contact us at reserveme@thereserveasia.com.
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Mary Ellen Mark
MAry EllEn MArk An exclusive interview with the American photographer. Words by Catherine shaW
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member news The Reserve is bringing Mary Ellen Mark to Hong Kong. For your chance to meet her and invest in her incredible photographic art, email us at reserveme@thereserve-asia.com
her work as a still photographer on some of the most notorious and famous film sets of all time, including Francis Ford Coppola’s Apocalypse Now, Tootsie, One Flew over the Cuckoo’s Nest and Fellini’s Satyricon. Featuring photographs from over 50 film sets, Mark’s Seen Behind the Scene: Forty Years of Photographing on Set (Phaidon) reveals how some of Hollywood’s most classic images were created.
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ary Ellen Mark is one of America’s most influential and respected photographers. Although dedicated to her serious photojournalistic work, which has appeared in publications such as LIFE, New York Times Magazine, The New Yorker, Rolling Stone and Vanity Fair, she’s also renowned for
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Mary Ellen Mark
Marlon Brando, Apocalypse Now
How did you discover a talent in this field? I always loved photography. From the moment I started, I knew it was what I wanted to do. I’ve worked on books and magazines, but if I had to choose, I’d be a documentary photographer. Seen Behind the Scene is very different compared with your usual focus on people living on the edge of society... I looked at film work as a great learning experience and journey. Watching great directors, actors, make-up artists and costume designers helped me to learn what THE
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makes great imagery. I was very fortunate to have that opportunity – and I didn’t think of it as commercial, as it was much more like documentary work. I put in just as much to try to make great images that would last forever. Of course, it’s much more difficult to do this sort of film-set work now, because there isn’t a connection with reality. There’s much less human contact on film sets these days, and actors are much more protected. Even directors are no longer behind the camera – they’re usually in a tent way off somewhere, and everything’s much more slick now.
An extra sleeps on the set of Moulin Rouge
command, so it’s a strange balance. You often talk about the “power of reality.” I don’t come to my subjects with a concept. I prefer to see what happens. The best concept comes from them, like my picture of Edgar Bergen. I didn’t think about putting him with that suitcase or think that he’d just pull out the ventriloquist’s dummy, Charlie McCarthy. It just happened. When you let things happen, a subject brings so much to you. He’s showing you something about his life and self, and that has to be much more interesting
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Do you have to connect with your subject to take a great photograph? Not necessarily. With the common man, you have to connect and there needs to be trust, but celebrities are used to being photographed and the camera is their tool. Some of the actors were very generous; they’re giving you something and letting you look into their soul. They can make that picture for you. Marlon Brando wasn’t easy to get near to, but if he decided he’d let you have a picture, he made it really work for you. He was very beautiful. But at the same time it’s also about a sense of you taking
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Johnny Depp, Sleepy Hollow
that anything you can ever think of. There’s nothing more interesting or weird than reality. Which are the standout photographs in the book? The photograph of director Federico Fellini in Rome in 1969, and the photograph of Edgar Bergen with Charlie McCarthy. Those were true moments. We’re so used to fake moments now, where actors are over-costumed and asked to do stupid things. I like real moments. What makes a great rather than just a good photograph? It’s always about capturing a moment with a person, but THE
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you have to have access and time with that person to capture those different moments. People are too protected these days, so those opportunities are lost. It’s hard to take a great photograph. A great one is iconic. It gets etched in your memory and it lasts. Is there an actor or director you wish you’d photographed? I’d have loved to photograph Buster Keaton. He was one of my favourites. I loved his very deadpan expressions and sad clown face. I’d also love to have photographed Laurel and Hardy.
Fellini on the set of Amarcord
loved black-and-white photos – I just love the abstraction, because you get down to the bare essentials. What’s the greatest challenge facing young photographers today? It’s very important for young photographers to do personal work, whether it’s fashion or still life. It must have a point of view and personal element, but it’s harder to find outlets for that kind of work now. Everything looks very uniform now, and a lot of work is done post production, which makes it look even more uniform. They have to develop their own eye and look. R
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How has your work changed over the years? It’s changed because although I started working in 35mm with a Leica, when I went to medium format I became a better 35mm photographer, because each format teaches you something different about how to take pictures. I work in all formats, which is interesting because each format has a different look. It challenges me more. I have nothing against digital photography; I teach it and a lot of my students use it, but I’ve worked in analogue for so long so I’m comfortable with it. I’m used to the idea of silver prints and negatives, and it’s hard for me to change because my pictures have a certain look, but the most important thing is content. I’ve also always
Inspiration HOW TO SPEND IT
The 12-C spider is a sensation in drop-top super cars Spider Man, p. 114
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bo london >
This new butcher’s shop and private kitchen in Aberdeen brings a new trend to Hong Kong: dry-aged beef. According to owner Jonathan Glover, once you’ve tried a 45-day dry-aged steak, you’ll never go back. The Reserve visited the chef ’s table – which seats 10 – and is inclined to agree. Diners can expect a huge tray of shellfish (including Coffin Bay oysters), juicy steaks with duck-fat fries, followed by a generous cheese platter and a dessert selection. Service is incredibly personal, with oyster-shucking lessons and a tour of the dry-ageing rooms thrown in as extras.
After years of taking Hong Kong by “X-treme Chinese” storm with Bo Innovation, “demon chef ” Alvin Leung has exported the concept to the UK capital, opening Bo London in Mayfair. Alongside favourites from the Hong Kong menu, Leung’s London offering includes an Ode to Great Britain set menu. The Reserve sampled cocktails and more than a dozen courses, which appeared in weird and wonderful forms – from old-fashioned dimsum baskets, to bowls spewing liquid-nitrogen fog, and Leung’s pièce de résistance: the Sex on the Beach dessert.
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We’ve tried them – so should you. Where to eat, drink, stay and spa.
Access our private network of unique investments The Private Network is an international collaborative partnership of leading real estate investors, developers, brokers, asset managers, investment bankers and consultants, working together in confidence by sharing vetted opportunities and clients. The Private Network provides access to a portfolio of confidential, off-market and exclusive opportunities that are diligently screened and selected as the “Best of Market�. Bordeaux chateaux and other wine producing properties worldwide Trophy penthouses, villas, estates, and private islands Hotels, resorts, and recreation (golf, ski, spa, marina) asset investment and development Residential development and investment projects Commercial property investment and repositioning Due diligence, acquisition, turnkey management, concierge service
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INSPIRATION Reserve Me
< laucala island Just when you thought you’d ticked off all the most exclusive holiday destinations, along comes Laucala island, owned by Red Bull magnate Dietrich Mateschitz. The private isle – a 45-minute flight from Fiji – features just 25 villas. Mateschitz has spared no expense or detail (see the organic farm from which all the resort’s restaurants source their food). There’s an 18-hole golf course, horse riding, all manner of water sports and so much more (including the incredible Bobo massage at the spa). And yes, there’s a hangar for your private jet. We recommend booking into the exquisite Hilltop Residence. www.laucala.com
the world > Some choose to own multiple properties internationally; others choose to buy a residence onboard The World, the largest privately owned residential yacht on earth. Continuously circumnavigating the globe, residents wake up in a new destination every few days and have a voice in creating itineraries each year. On board there are six restaurants, exceptional golf facilities, the only full-size tennis court at sea, swimming pools, a spa, expert destination lecturers, and more. www.aboardtheworld.com THE
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INSPIRATION Reserve Me
< Spa QueenS The Reserve has been pampered all over Asia and returns with three of our favourite city spa therapists.
Kun Nui at the Peninsula, Bangkok We rate Kun Nui, who takes the time to tailor your treatment to your specific needs and wants. The Reserve recommends booking into one of the four private Spa Suites, so you can enjoy a private changing area, steam shower and double bath.
Kai Ying at the Shangri-La, Singapore The Shangri-La’s new Chi Spa (pictured left) is amazing. Like a good mother, Kai Ying will wrap you up, make sure you’re warm enough, and then get to work soothing away any stress. The spa’s signature massage is the perfect way to end a lazy day by the pool.
Krisha at the Angsana by Banyan Tree, Hong Kong Krisha is a genius. Opt for a fusion massage, a blend of Thai and Swedish techniques, and she’ll manage to relax and refresh you all at once. THE
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Samui Weekender
A direct flight from Hong Kong can have you in Koh Samui in a couple of hours, so next weekend why not check into the sublime Four Seasons, occupying its own private bay in the northwest of the island? Starchitect Bill Bensley designed the resort, which explains the stunningly decorated guest villas, each with a private infinity pool. The Reserve recommends chartering the hotel’s latest acquisition, Minor Affair, a 20-metre Sunseeker Manhattan 60 cruiser, for a sunset
cruise or a day’s diving in the Gulf of Siam. Return for dinner at Lan Tania, which serves fabulous Thai and Italian specialties – or opt for the in-villa “bucket barbecue,” which proved The Reserve’s idea of a perfect night in. www.fourseasons.com/kohsamui Did you know...? The Four Seasons now organises private jet holidays, hosting 65 guests on-board a specially adapted 757. New itineraries include a 23-day, around-the-world trip, touching down in the most stunning Four Seasons destinations.
The reserve
member reviews Been somewhere you think other members of The Reserve would love? drop the editor a line at reserveme@ thereserve-asia.com and tell us all about it. We’ll print the best reviews in the coming issue.
INSPIRATION Reserve Me
Mandarin Oriental, PudOng > Situated on the east bank of the Huangpu River, this gorgeous development has over 300 rooms plus 210 serviced apartments, housed in two distinct towers. Home to the largest presidential suite in Shanghai (at an astounding 788 square metres), the hotel is both seriously business minded, with numerous event and meeting spaces, and also perfectly appointed for leisure and relaxation. The spa has 13 private suites, a large indoor pool and gym complex, and some of the best therapists in the business. There are six drinking and dining spots in the hotel â&#x20AC;&#x201C; The Reserve recommends the tasting menu at Yong Yi Tin, serving exquisite Jiangnan Chinese cuisine. www.mandarinoriental.com/shanghai
< the Peninsula acadeMy More and more, travellers are seeking valuable experiences when they go abroad. Thatâ&#x20AC;&#x2122;s why The Reserve loves the Peninsula Academy, a new collection of tailored city experiences. Highlights include hitching an elephant ride to a vineyard for a private wine tasting in Bangkok. In Beijing, a helicopter tour to the Great Wall for a private champagne brunch awaits. Further afield in Beverly Hills, guests can receive private surf lessons from celebrity instructor Rod Samper at Xanadu, the Malibu estate once owned by Olivia Newton-John. www.peninsula.com/academy THE
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DuDDell’s, Hong Kong
With Michelin-starred Cantonese chef Siu Hin Chi at the helm, it’s no surprise that the food at this new restaurant in the Shanghai Tang building is second to none. A happy surprise though is the artistic element, comprising regular exhibitions in the Ilse Crawforddesigned space. We’re looking forward to the Ai Wei Weicurated exhibition in October. R www.duddells.co THE
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INSPIRATION McLaren Spider
Spider Man Test-driving the new McLaren Spider
words by simon Clarke
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ot on the heels of the breathtaking MP4-12C, McLaren Automotive have launched the Spider version of what is arguably the most visionary sports car currently in production. The 12C Spider is a sensation in drop-top super cars because McLaren have managed to keep the blistering statistics of the hardtop version while losing the roof. High-performances sports cars don’t normally react well to losing a vital part of their overall structure; however, in their pursuit of excellence, McLaren have actually designed the Spider version according to the original concept of the MP4-12C. The stunning looks of the Spider are secondary to the amazing technology involved in each part of the car, and it’s a boyish pleasure for me to be slipping down through the scissor-action doors into the body-moulded seats for what is my second time in the McLaren. The delicious soundtrack of the twin-turbo, 90-degree V8 blasts through the indoor parking behind the showroom, and pulling out onto the streets of Hong Kong, I’m reminded of just how accommodating and easy this magnificent car is to handle. The McLaren has been compared to many luxury marques for its quality of ride, and I must say I do understand such comparisons as the McLaren is spookily comfortable – almost soothing to drive in traffic or at lower speeds. THE
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I was left wondering just how it would be possible to improve on a car like this
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The 12C’s massive performance, proven by recent successes on the international racing circuit, is what everyone’s raving about, so we leave the busy town traffic and head for the hills behind Hong Kong to test the aggressive side of this Spider. One press of a button on the dash folds the fibreglass-reinforced plastic roof back and away neatly, in precise, balletic sequence – something you can do while driving (under 19mph). Now, with one of the world’s best, most beautiful sports cars and some clear roads, it’s time to drop the hammer. The 618bhp, produced by the mid-mounted V8, can accelerate the Spider from a dead halt to 60mph in just 2.9 seconds, and if you’re brave enough, to a top speed of 204mph (only 3mph less than the hardtop). These are mind-blowing, neck-breaking statistics, but the most important part of this car’s technology is the proactive chassis control, which is basically the electronically controlled hydraulic dampers, together with brake-steer technology working independently on each wheel of the car to provide a face-ripping level of cornering ability. To say that the 12C grips well through the turns is to say that Charlton Heston has a good grip on his gun: this car absolutely demolishes corners, and sets standards for super-car road handling, performance and competence far exceeding the abilities of normal road users. Characteristics like how this car changes direction between high-speed lefts and rights, or the phenomenal braking, assisted by the rear spoiler/air brake left me astonished and wondering just how it was possible to improve on a car like this. We announced our arrival at the photo shoot with a symphony of twin-turbo chatter mixed onto a baseline THE
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of raw V8, although aside from the noise, the presence of this car alone is enough to attract attention wherever you go. The lines and curves of the McLaren against a Hong Kong backdrop show off a perfect marriage of engineering and art. Each part of the car is functional and vital to its overall performance, yet is crafted with absolute elegance and grace. I have no doubt that McLaren Automotive are poised to enjoy massive successes with this outstanding car, and I’m excited for what’s to come from the new British legends. R
INSPIRATION Art Hotels
Art House Impressive hotel art collections are giving galleries a run for their money Words by Catherine shaW
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rt in hotels is nothing new. The grandes dames of hospitality, along with the smallest of boutique establishments, have long decorated their lobbies, hallways and suites with paintings and artefacts. What has, mercifully, changed is the scale and scope of the art, with hoteliers now thinking outside the frame and installing carefully curated collections that go well beyond the ornamental. The best give hotels a distinctive identity, and in the process, often give galleries a run for their money. We’ve rounded up eight of our favourites, from Las Vegas to Beijing. The Bellagio Resort & Casino, Las Vegas sets the bar high for works of art, with its own gallery currently displaying 56 paintings, sculptures, photographs, screen prints and wallpaper by Andy Warhol, borrowed from the Andy Warhol Museum in Pittsburgh and on show THE
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until late October 2013. On the second Wednesday of every month, works from the exhibition are paired with selections from Bellagio’s wine cellar, with an interactive conversation on each. The hotel’s Picasso restaurant features the painter’s original works, while the Fiori di Como blown-glass chandelier by artist Dale Chihuly in the lobby is an example of functional art at its best. The 12-storey Ace Hotel New York, in the heart of Midtown Manhattan, is renowned for its edgy street art, with bold paintings and murals created by emerging local artists and displayed in rooms artfully decorated with vintage furniture and original mosaic floors. Artist Michael Anderson used more than 5,000 copies of graffiti stickers for a particularly striking mural along the staircase, while graffiti artists Mint & Serf hand-painted the signage in the guest corridors. The 21c Museum Hotel in Louisville, Kentucky, was
Ace Hotel New York
Conrad Tokyo
Swatch Art Peace Hotel
21c Museum Hotel
INSPIRATION Art Hotels
Hoteliers are thinking outside the frame and installing curated collections that go beyond the ornamental Warhol, Frank Stella, David Hockney and Henry Moore. There are more than 4,000 pieces of contemporary art here – the Stella Room houses a particularly stunning three-dimensional Moby Dick mural by Frank Stella, while the lounge is dedicated to glass artist Dale Chihuly. The Conrad Tokyo is one of the best hotels in the capital for indulging in a wide range of Japan’s artistic media. Its stellar collection also excels in modern interpretations of traditional Japanese crafts such as sumi-e and lacquerware. Famed lacquer artist Nobuyuki Tanaka created the dramatic, red Purification installation in the hotel’s ground-floor lobby. The slender red shape is a symbol of flowers that “float” upon the waves of the sea. The most striking work of art, however, is by the venerable Toko Shinoda who, now aged 100, created the iconic For Thee sumi-ink and traditional silver-leaf piece that enjoys pride of place in the 28th-floor lobby, where it competes for attention with panoramic views over Tokyo Bay. South Place Hotel, London opened in September 2012 with a Hoxton Art Gallery-curated selection of hundreds of original contemporary works by London artists. A set of Lichtenstein-inspired prints by John Vincent Aranda, based on classic British condiments and spreads, is on show in the main-floor brasserie, while the penthouse suite presents a Tom Gallant triptych of ethereal, three-dimensional paper moths, cut from vintage porn magazines. The look throughout the hotel is an eclectic mix of quirky finds, such as a collection
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founded in 2006 by philanthropists and contemporary art collectors Laura Lee Brown and Steve Wilson. The art-loving duo successfully transformed a series of 19th-century tobacco and Bourbon warehouses into a unique hub of culture and artistic expression with a 90-room boutique hotel, contemporary-art museum and civic cultural centre. Its galleries are renowned for their extraordinary collection of 21st-century art, mainly by emerging local and international artists such as Chuk Close and Kara Walker, and covering a range of mediums including photographs and installations. The gigantic, vivid-red penguins are a favourite. The Swatch Art Peace Hotel, Shanghai, occupies one of the best locations on the city’s famed Bund. Hotel interiors are a bold mix of heritage decor, a contemporary design centre, and just seven modern-art-inspired guest suites, with uniquely quirky interiors by Paris-based designers Jouin Manku. The suites, inspired by traditional and modern Chinese culture, feature an intriguing blend of cutting-edge design and whimsical touches such as a king-sized bed in the Happiness Suite, half enclosed within a birdcage. Other themed suites include the Joyful, Wondrous and Cheerful rooms, designed to elicit feelings of goodwill. The hotel also includes 18 specially designed studio apartments and workshops, where artists in residence from all around the world work, live and exhibit their creative talents. The Ritz-Carlton, Millenia, Singapore is filled with a treasure trove of distinctive works by the likes of Andy
INSPIRATION Art Hotels
“The current trend for art hotels seems to be endemic, but captivating a true art-loving audience requires a huge leap of faith” of wire shoes by British metalsmith Cathy Miles, and a mannequin display by AMD Interior Architecture. The hotel nurtures modern art with an annual Art Prize, won most recently by Israeli RA student Zemer Peled for his sculpture Nature in a Domestic Space, now showcased in the chic lobby. The Four Seasons Hotel Beijing showcases the city’s centuries-old traditions and contemporary art scene with its self-styled “contemporary Tang tradition,” led by Qin Feng’s ink painting and calligraphy Landscape of Desires No. 4 & 5, specially commissioned for the hotel’s reception. Australian artist Jayne Dyer’s Butterfly Effect in Beijing 2012, based on the Chinese peacock butterfly – a symbol of longevity and love in China – comprises an installation of 400 polished and powder-coated stainlesssteel butterflies that rise 66 metres up the main atrium wall. Closer to home, the serene interiors of the Andre Fu-designed Upper House offer the perfect atmosphere for an outstanding selection of specially commissioned works by mostly Asian artists. The inner atrium features Hiroshiwata Sawada’s 10-storey, water-inspired installation Rise, while British artist Gerard Bookle’s sculptural, rosepetal works of art adorn the walls of the guest rooms and suites. “The current trend for art hotels seems to be endemic, but captivating a true art-loving audience requires a leap of faith and committed vision by the hotel owners,” says Corporate Art & Sculpture Consultant’s Alison Pickett, who worked closely with Fu on The Upper House. “The curation of an intelligent and investment-quality art collection is highly specialised. Every project should be approached with a unique attitude and deliberate collaboration between the curator, the owner, the architect, interior designer, landscape architect, lighting designer, engineers and contractors and, most importantly, the artists themselves.” R THE
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Four Seasons Hotel Beijing The Upper House
South Place Hotel
INSPIRATION Platinum Wines
The source The ultimate trip to France for oenophiles. Words by Liz Thomas
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drinking and discussing fine wines from their private cellar, and stay in luxury among the vineyards.” Every detail is taken care of, with a local tour guide on hand, and translators to accompany the group as required. A private vehicle will take guests on a guided tour of historic Bordeaux and St Émilion on top of visits to the key appellations. Groups are kept small – a maximum of 10 people – and all meals are provided daily. For those keen to enjoy more of French life, there’s an oyster-tasting lunch at Philippe Starck’s stylish La Co(o)rniche Hotel. Explains Kishnani, “Our aim is to blend luxury lifestyle with the experience of the best food and wine in the world – all while being immersed in the history and culture of Bordeaux.” In 2011, mainland-Chinese consumed approximately 20 per cent of Bordeaux wine exports, with the nation the biggest single importer by volume of the region’s wine. It’s estimated that in excess of 71 million bottles of wine from Bordeaux were sold to China and Hong Kong in 2012. In fact, China’s interest in the region is such that there’s even a St Émilion-inspired wine theme park being built near Dalian. If guests want to play golf in Médoc, visit Cognac for a private tasting at Rémy Martin, or enjoy Paris with
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member News To receive more information and find out about special rates for The Reserve members, email us at reserveme@ thereserve-asia.com
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ine wine has long been part of the savvy investor’s portfolio, but for connoisseurs, the real luxury is to simply enjoy it. Hong Kong-based Platinum Wines is now offering the ultimate trip to France for those passionate about wine, its creation and history. The five-day experience in Bordeaux, arguably the finest region for Old World vintages, is described as a once-in-a-lifetime opportunity for wine buffs in the East. So what makes it so special? Guests will board a private jet from Paris to Bordeaux, and enjoy exclusive tours of the most renowned chateaux in the region, including Château Lafite Rothschild, Château Mouton Rothschild and Château Margaux – all while staying in luxury accommodation on the grounds of Château Smith Haut Lafitte. Over five days they’ll enjoy sought-after vintages from the chateaux’ private cellars, and dine at Bordeaux’ best restaurants, such as the Michelin-starred La Grande Vigne. “We’ve built up relationships with the chateaux over several years, so guests will have the opportunity to taste and buy some of the best vintages ever made, directly from the chateaux,” says Platinum Wines CEO Rickesh Kishnani. “Guests will dine with the owner, spend time
INSPIRATION Platinum Wines
“Guests dine with the owner, drink and discuss fine wines from their private cellar, and stay in luxury among the vineyards” exclusive tours of the Louvre, cruises on the Seine, or dinner shows at Le Lido, Platinum Wines can organise all of these additional experiences. Kishnani says the company can also assist buyers wishing to purchase vertical collections, provide advice on which wines to purchase, and take care of the logistics of shipping and storage. They can even help those considering purchasing a small chateau. Over the past four years in France, more than 30 chateaux have been bought by Chinese investors, a figure that’s expected to rise to 50 in the next year.
avoiding fraud A practical advantage of going on the Platinum Wines trip is seeing what you’re getting, directly from the source. Whether you’re buying to enjoy the wine or as an investment, this is a strong advantage given the fraud scandals that have rocked the industry. Huge amounts of counterfeit fine wines have been sold on the Chinese market over the past few years. The situation became so bad that the CIVB – the Bordeaux wine-trade body, which represents 8,500 producers – made random checks on Chinese supermarkets and wine shops to investigate. Some scams involved fake wines with replica bottles and labels, while others used empty bottles of vintage wines refilled with inferior product. Reports suggest an empty bottle of Lafite Rothschild 1982 can sell for more than HK$3,650 (2,900 yuan). In a recent interview, Romain Vandevoorde, head of wine importer Le Baron, warned, “There’s more Lafite ’82 in China than was produced in France. So you really have to be wary if you find any of that in China.”
wine for investment Kishnani says those taking the luxury trip to Bordeaux may not go explicitly to search out a return, but all bottles THE
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sold are investment grade, so the opportunity is there. Another benefit of going to the region with established firms such as Platinum Wines is that such companies have relationships that ordinary buyers cannot hope to match, however wealthy they are. Chris Smith of the Wine Investment Fund explains, “The main properties making investment-grade wines – the top Bordeaux chateaux – will simply not sell directly to visitors. They have a complex, centuries-old distribution network that still operates today.” Amanda Skinner of bespoke wine-investment service Private Cellar adds, “Obviously it’s wise to buy as close to source as you can – i.e. from a reputable wine merchant who will supply and who can organise temperaturecontrolled shipping and local, air-conditioned storage.” She adds, “There are recognised properties in Bordeaux that have a track record in their values rising over time, but there are no guarantees. Commodities are responsive to the global economic situation.” From June 2011 to July 2012 the market index, the Liv-ex 100, fell by 29 per cent, impacted in part by the eurozone crisis, but in the main because of a market correction from earlier rapid and steep price rises (the index rose 76 per cent from the end of 2008 to mid2011). Nonetheless, wines from the region remain an attractive investment option in the long term. Over the past 20 years the average net return on investment in fine wines has been around 15 to 17 per cent. “The market is below trend following the 2011-12 falls. The underlying demand-and-supply characteristics drive average growth in fine-wine prices of 10-12 per cent per annum based on historical data,” notes Smith. “Bordeaux provides the perfect example of supply and demand operating in the wine market. On the supply side, the volume is fixed [by French law] at bottling and thereafter can only go down – which tends to increase prices. Meanwhile, as the wine ages it gets better, meaning that demand increases.” R
InspIratIon star Cruises
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t’s not just girls who occasionally need a night out with their nearest and dearest. Sometimes, guys need to recharge and have some fun without the girls in tow.To get away from the stresses and strains of everyday life, a night on board one of Star Cruise’s ships could be just what the doctor ordered. Star Pisces has long been a resident of Hong Kong’s famous harbour, heading out each night into the South China Sea, promising an evening of fun ahead. Guests step on board at 7pm and watch the harbour lights disappear into the distance from the privacy of the ship’s members-only Genting Lounge. The evening well and truly begins as you start to explore and sample the vast and rare collection of cigars and whiskeys. Recently refurbished, Star Pisces’ interior is designed to be cool and contemporary to create the perfect environment for fun. Explore the ship before heading for dinner at exceptional Chinese restaurant, Taipan. If you’re in the mood for a more Western flavour try Mariners, located right at the front of the ship. After filling up on dinner take some time to browse the ship’s convenient luxury-shopping outlets. Pick up a rare bottle of your favourite tipple at the Genting Wine Shop or head to Eternal Elements, an expert in fine gold and silver pieces, and splash out on a gift for that special someone back home. As the evening wears on, the ship transforms into the ultimate gentleman’s playground. Unwind with a glass of fine wine in members-only Maxims Lounge before moving to the main attraction – Galaxy of the Stars – to be dazzled by world-class cabaret performers well into the night. If you’re a true night owl and keen to carry on until the early hours, the ship offers all-night entertainment until you are ready to retire to one of the luxurious, sea-view cabins. The next morning, put your body through its paces in the state-of-the-art gym, pamper yourself in the onboard spa or head to the top deck and savour the fresh air as you pull back into the world’s most impressive harbour. A holiday, without having to stray too far from Hong Kong waters. R tHE
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Boy’s Night out star Cruises
WORDs by mElviN bElhOmmE
DON’T FORGET Passport – The ships heads out to international waters each night so you’ll need it to check-in when you arrive at Ocean Terminal Credit card – Make the most of the exclusive on-board shopping An overnight bag – To head straight back into the office the next morning Bathers - For taking a dip in the outdoor pool
INSPIRATION
La Perla
Brighter
SHADE
OF PALE PHOTOGR APHY Nathan King STYLIST Nata Ngai PRODUCTION Cheriko Productions HAIR AND MAKE- UP: Jolinn Ng MODELS: Chris L @Mission Models, Giedre V @Model Genesis PHOTOGRAPHY ASSISTANT: Petra Yuen LOCATION: Special thanks to Asia Society Hong Kong Center
Him Jacket and shirt: Salvatore Ferragamo Her Knit top: Salvatore Ferragamo Ring: Bottega Veneta
Him Jumper: Giorgio Armani Watch: Bvlgari Her Top and trousers: Emilio Pucci Jewellery: Van Cleef & Arpels
Him Sweater: Hermès Her Top: Salvatore Ferragamo Bag and ring: Bottega Veneta
Him Shirt: Fendi Trousers: Giorgio Armani Her Blouse and skirt: Bottega Veneta
Him Jumper: Emporio Armani Trousers: Bottega Veneta Shoes: Hobes Her Top and trousers: Fendi This page T-shirt: Cerruti1881 Trousers: Bottega Veneta Bag: Fendi
La Perla led the way in a postwar world, becoming the first Italian brand to create coloured lingerie
Leavers-lace bustier
INSpIRaTIoN La Perla
Stitch in time
Sexy and sophisticated, La Perla lingerie has been coveted by women the world over for almost 60 years. Words by Abid rAhmAn Napoleonic Wars, leavers lace has long been considered the most desirable lace in the world, and today La Perla has a virtual monopoly on the fabric, owning 70 per cent of the looms. With the luxurious platform of leavers lace, La Perla has perfected the soutache and frastaglio methods of lacemaking that remain the backbone of the brand today. La Perla’s story since its founding is indelibly intertwined with the revolutions in fashion and culture that led women to embrace their femininity in new ways. The 1960s was a decade of nonconformity and rebelliousness, with La Perla playing its part in helping women express their newly liberated sense of sexuality. The ’60s added colour to a post-war world, and La Perla led the way, becoming the first Italian brand to create coloured lingerie. Two coloured sets caused a sensation and a flurry of imitations, but it was only La Perla that had the temerity to match the black lace bra with floral prints in the ultimate demonstration of “flower power.” In the 1970s, La Perla marched in lock step with the
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t all began with one woman who had the courage of her convictions and the utmost faith in her own talent. In 1954, a celebrated Bolognese corset maker by the name of Ada Masotti, known affectionately as “Golden Scissors” for her unrivalled tailoring skills, struck out on her own. Her dream was to create an atelier that utilised the very best of Italian craftsmanship to produce the most beautiful and innovative corsetry. To Masotti, this corsetry was as finely crafted as any jewellery and just as desirable, and so she presented her “gems” in a luxurious, red-velvet-lined box. Today, the name La Perla is synonymous with sensual and feminine luxury in Italy and abroad. The brand has been able to maintain its prestige by adhering to the principles laid down by Masotti all those years ago – fusing centuries-old artisanal tradition with innovation, topped off with distinctive, modern-Italian style. Masotti was a perfectionist and her pursuit of excellence led her to only work with leavers lace, which she called the “fabric of desire.” Created during the
INSPIRaTIoN La Perla
increased freedoms and equality women were demanding in the workplace and wider society. At the same time that women were burning bras in protest, Masotti’s contribution to the cause was to create lingerie that was feminine but at the same time lightweight and nonconstraining – the exact opposite of what had come before. Thus the Amanda bra was born: a transparent, lace triangle bra that just as powerfully asserted the feminine mystique. The need to innovate saw La Perla widen its purview to swimwear in the ’70s, and introduce modern stretch fibres created especially for the brand. This commitment to material science helped La Perla maintain its edge in the 1980s, a decade of extravagance and excess that saw a boom in interest in and demand for lingerie. La Perla was the first lingerie company to create the wide-shouldered body, made entirely of stretch lace, that could be glimpsed under the power suits of the era. Lingerie became an integral part of a woman’s outfit in the ’80s – indeed, in some instances underwear became outerwear, with Madonna most famously at the forefront of this trend. Wearing constructions by Jean Paul Gaultier, the iconic “cone bra” was an in-your-face example of femininity that reflected the confidence of women in the ’80s. Gaultier paid tribute to his most famous lingerie with a special 23-piece THE
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collection for La Perla in 2010; to this day, the designer continues to push the envelope with his capsule collections for the brand. By the 1990s La Perla was a fashion powerhouse, able to dictate trends to a whole industry. Rising wealth saw women demand more from luxury brands, and La Perla stepped up to accept the challenge, creating lingerie lines that simultaneously catered to the needs of high fashion on one hand, and the shift towards minimalism on the other. In 1994, La Perla introduced the Sculpture bra, a piece of “linear” corsetry that embraced all the latest fabrics to produce a bra that was sculpted to the contours of the body, creating the most natural silhouette at that time. Despite its rich history and almost cult-like following, La Perla is a brand that refuses to rest on its laurels. The latest collection is imbued with the romance of 19th-century Sicily, and built on the luxury of La Perla’s leavers lace. Flourishes are provided by bows, strings, pleats, and precious embroidery with modern constructions and on-trend colours. The collection, like the many that have preceded it, evokes the legacy of La Perla as well as embracing the here and now to keep this most august of lingerie houses as exclusive as Masotti dreamed it would be, that day in 1954 when she struck out on her own. R
©La Perla Lingerie and Desire - SS 1992 coll Ph Nadir ©La Perla Lingerie and Desire - FW 1969 coll ph Studio Martelli
By the 1990s, La Perla was a fashion powerhouse, able to dictate trends to a whole industry
La Perla archive (1992) Ada Masotti and her husband
Modica Maillot (2013)
The
hot ten
Thi s se a sonâ&#x20AC;&#x2122; s mos T cove Ta b le con sum a b le s
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spinning around A throwback to the all-in-one hi-fis of the 1950s, this is one rocking record player. Crafted in solid American walnut, it blends old-school electronics with digital and wireless capabilities. Time to wave goodbye to those iPod speakers.
HK$115,000 www.symbolaudio.com
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itâ&#x20AC;&#x2122;s complicated The most complicated watch from GlashĂźtte so far, the Grande Cosmopolitan Tourbillon is limited to 25 pieces worldwide. The watch can track the time in 37 destinations, making it perfect for up-in-the-air types.
HK$3.2m www.glashuette-original.com
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pretty fly Larger than the Cessna Latitude launched last year, the Longitude business jet can fly non-stop from New York to Paris or Beijing to Moscow and has capacity for eight people. Get on the waiting list now â&#x20AC;&#x201C; first delivery is planned for 2017.
HK$200m www.cessna.com
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INSPIRATION The Hot Ten
BOX OF TRICKS For the 80th birthday of pop art legend Peter Blake, The Macallan have released this limited edition wooden case, stacked with miniatures and and models. The partnership between Macallan and Peter began when he designed the label of the first 12 bottles in 1926. Only ten sets available.
HK$5,500 www.themacallan.com
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WIDE LOAD Why did nobody think of this before? The new Wider 42 can expand at the flick of a switch, widening to hold 12 people comfortably. It can reach speeds of 50 knots in a few seconds and has a range of 350 miles at 40 knots â&#x20AC;&#x201C; unthinkable for a yacht of this size, until now.
Price on request www.wideryachtasia.com
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INSPIRATION The Hot Ten
a lot of bottle Limited to only 738 decanters worldwide, the Louis XIII Rare Cask 42,6 is a boozy treat, presented in a Baccarat crystal decanter with a 24-karat rose-gold neck. Best not throw the bottle out with the trash.
HK$187,000 www.louis-xiii.com
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down under U-Boat Worx submersibles are the most advanced private submarines in the world. Zoom down 100 metres in air-conditioned comfort, and let the adventure begin. Perfect for wannabe Bonds.
From HK$13m www.uboatworx.com
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INSPIRATION The Hot Ten
best shot Billed as a tribute to Grand Prix race-car engines, this hefty machine, limited to 500 units worldwide, is made using magnesium, titanium and aluminium, with coffee served from â&#x20AC;&#x153;exhaust tubes.â&#x20AC;?
HK$116,000 www.espressoveloce.com
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INSPIRATION The Hot Ten
hot air Swiss designers Aurentum have created this exceptional shisha, crafted with 24-carat gold as well as diamonds and rubies. Thatâ&#x20AC;&#x2122;s one pricey smoke.
HK$7m www.aurentum-switzerland.com
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INSPIRATION The Hot Ten
CALL ME MAYBE How can a phone possibly be so pricey? It’s down to the extremely expensive watch that’s attached to the front. Only 18 are available. Not one to leave in a taxi.
HK$2.8m www.celsius-x-vi-ii.com
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INSPIRATION Advertorial
Hilton SAnyA ReSoRt And SpA
An idyllic holiday spot just a quick flight from Hong Kong words by marie barnes
S
et on a beautiful stretch of powdery white beach overlooking the South China Sea, Hilton Sanya Resort and Spa is a fabulous new spot to unwind, re-invigorate and get away from it all. Happily, Sanya is now easily accessible by direct flight from most of Asia, making it the perfect weekend retreat for couples or families. The contemporary, low-rise resort is designed to blend in with the natural surroundings and uses local materials such as volcanic lava stone, thatched pavilions and timber decking set within a stunning landscape of coconut palms, lagoons, pools, sand beaches and terraces. For guests who need to totally de-stress, the resortâ&#x20AC;&#x2122;s spa retreat features eight treatment pavilions, a relaxation area, tea lounge, and a state-of-the-art fitness centre. Each spa experience is tailored to provide complete relaxation, rejuvenation and holistic benefits, using a mix of ancient techniques from all over the world. Foodies can take their pick from seven on-site restaurants and bars including .Ize, a water-themed restaurant featuring glass floors and a floor-to-ceiling aquarium, and the Chilli beach Bar set right on the beachfront. So what are you waiting for? Book that flight and prepare for some five-star relaxation. R THE
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Weekender: Galaxy Macau Which of Galaxy Macauâ&#x20AC;&#x2122;s three hotels is best suited to you? The Reserve visited each one so we could help you decide. Words by meral shannon
Hotel Okura Macau
INSPIRATION Galaxy Macau
T
he Galaxy Macau™ resort has a whopping 2,200 rooms and offers the widest selection of pan-Asian and international cuisine all under one roof. So far, the resort encompasses three hotels: Banyan Tree Macau, Galaxy Hotel™, and Hotel Okura Macau from Japan. Make sure you tailor your stay to your preferences, and choose the right one of the three!
Banyan Tree macau A stay unlike any available elsewhere in the city can be had at Banyan Tree Macau. Those who’ve previously stayed at a Banyan Tree resort will be familiar with the brand’s focus on relaxation and space – quite at odds with Macau’s hectic pace. It’s the perfect choice for those needing to recharge and get away from it all. Each room features a private relaxation pool, but The Reserve recommends booking a stand-alone villa, which means you’ll have your own sprawling gardens and private pool. By day, we spent our time cosying up in the poolside cabanas, breaking only for one of the many spa treatments on offer – and by night, we sampled the amazing restaurants on site. Banyan Tree Macau’s Belon is a must-visit.
Galaxy HoTel Galaxy Hotel
With 1,500 rooms, guests are certainly spoilt for choice at Galaxy Hotel. The Reserve favours the Palace Suites, which feature private check-in, 24-hour butler service and a generous 121 square metres of living space. Guests can take their pick from a choice of restaurants, including the stunning Terrazza, set in a beautiful secret garden and serving delicious contemporary Italian food. After dinner, head to the Macallan Whisky Bar & Lounge, where you can take your pick from over 400 whiskies.
HoTel okura macau Save yourself the flight and book into Hotel Okura – a slice of Japan in Macau. The Reserve loves the expansive Junior Suites, which feature their own Jacuzzi, steam shower, and access to the Okura Lounge for afternoon tea and cocktails. Our team loved Yamazato, the hotel’s signature kaiseki restaurant, which carries out traditional tea ceremonies in a specially designed paper pod.With Japanese minimalist design and architecture, and kimono-clad staff, the hotel makes for an unusual and enriching break.
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Banyan Tree Macau
INSPIRATION Galaxy Macau
Three of the best... Galaxy Macau food and drink spots
Terrazza Fans of authentic Italian food will love Terrazza at Galaxy Hotel. Following the seasons faithfully and using fresh, interesting ingredients, chef Gleb Snegin is the talent behind what’s quickly become one of the best restaurants in Macau. The restaurant features an exhibition kitchen at the far end as well as the option to eat al fresco in the garden. Foodies can book the chef ’s table, and watch their dishes being prepared. So what are the chef ’s recommendations? First off, the Trentino – a white pizza with broccoli, courgette, spinach and speck. Also, the crispy veal rolls (vitello croccante) and signature dessert, the Giardino. “For the herb sponge we use parsley, basil and mint, homemade white-melon ice cream and fennel chips,” Snegin explains. He also has a soft spot for the restaurant’s tomato bread (pappa al pomodoro), which he describes as “pure Tuscan comfort food.”
China Rouge
Macallan Whisky Bar & lounge Where better to come for a postprandial drink than this sumptuous Scottish whisky bar? Settle into one of the Chesterfield sofas and take your pick from over 400 of the distiller’s most exclusive whiskies, including the Macallan Fine & Rare Series, and Lalique editions such as the Macallan 40. With the lounge’s heavy oak panelling, crackling fires, fur throws and Jacobean rugs, you could be forgiven for thinking you were in the Scottish highlands.
china rouge Galaxy Macau’s exclusive nightclub is a throwback to 1930s Shanghai and the fin-de-siècle Paris salons. Designed by Hong Kong talent Alan Chan, the space drips with glamour and intrigue. The blood-red walls are adorned with works by contemporary Chinese artists, including Li Jian and Chen Men, and the intimate venue hosts celebrity performers including the likes of Laura Fygi and Kenny G. R
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Macallan Whisky Bar & Lounge
Terrazza
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inSPirATiOn Timepieces
Grieb & benzinGer There are plenty of high-end watch brands in the world, but none quite like German watchmakers, Grieb & Benzinger. The team explain why.
What makes Grieb and Benzinger different? There are many incredible watches on the market, and there is no doubt that they are fabulous timepieces. But we believe some have lost their soul. Many of them are so-called limited editions but really there are lots of similar watches out there. At the Grieb and Bezinger workshops, we completely restore precious movements by the great old masters from 1880 to 1930. We take them apart down to their smallest elements and then they are worked on, guilloched, engraved and skeletonised to make a client’s very personal watch dream come true. Our watch clients get real one-ofkind-watches made by existing masters and not by anonymous people at brand names. Tell us about Grieb and Benzinger craftsmanship. Jochen Benzinger uses techniques that have more or less died out, particularly the art of guilloche, a craft that is not being taught anymore. He specialises in modifying mechanical movements the old way. Now that most production is computer-controlled, real craftsmanship such as Jochen’s has almost disappeared. One neagtive THe
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aspect of doing things the modern way if that everything looks the same. Perfect perhaps – but the same. We value individuality. Hermann Grieb is also a graduated master watchmaker and has cosen a path specialising in antique and historic watchmaking. Over the years, he has accumulated a collection of highly technical and beautifully crafted vintage complications from grande maisons such as Patek Philippe and Vacheron Constantin, all dating between 1880 and 1930. We only make around 10 Platinum pieces each year – because there is simply so much to work on. A tremendous number of manhours is required to restore the movement, incorporate extra functions such as a moonphase or date according to the client’s wishes. We disassemble the whole thing and decorate each and every part. What do you think watch brands such as Patek and Vacheron would have to say at such treatment? Puritans will possibly not agree with our treatment of Patek and Vacheron movements. But the problem is that the brands themselves are unlikely to be able to pick up the pieces without at least a case and a dial surrounding
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INSPIRATION Timepieces
The reserve
member news Members will have the chance to meet the talented team behind the brand when they come to Hong Kong later this year and get the opportunity to order their own unique timepieces. Email us at reserveme@thereserve-asia.com to save your spot.
them. Most watchmakers lack the skills to bring them back to life, so perhaps we should be grateful that these movements are finally being ressurected thanks to the talented craftsmen. How long does it take to produce a timepiece? It depends of course according to each watch but to give an example, we recently made two watches (Blue Sensation and Blue Danube) which took about 1,000 hours all together. This included all work at every workshop station: restoration, technical modification, decoration, dial layout, dial production, and assembly. I would say for the Platinum watches we would usually talk about a delivery lead time of about 6-12 months but it really is variable. To explain – we have two watch lines; our Platinum one-of-a-kind watches and the Boutique line. For the Platinum watches we invest more time as the ebauches have to be totally restored and partially rebuilt. The creation is not just restoring the movement, it’s also about the watch case measurements and dials. The Boutique line is not quite as timely it is based on classic pocket watch movements which are often found brand new. Obviously we save a lot of time as there is no need for restoration. Ther is usually THE
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a delivery lead time of about 3-4 months for the Boutique line. What kind of price point are your watches? As I mentioned, the Boutique line is our basic collection and we have a maximum capacity of about 100 watches per year. The collection includes the fully skeletonised Blossom watch, also classic styles with Sterling Silver dials and technical modifications such as the Polaris and the Regulator Pharos. We are working on new models such as automatic and an extraordinary monopusher-chronograph to be built in quantities up to 10 pieces per year. The Boutique line in offered in rose gold as well as in white gold, and soon in steel and white gold. Prices in gold start about $42,500. The Platinum one-of-a-kind-watches are a different story. Due to the huge amount of work and time needed for one piece we make a very limited number every year. We originally intended to do about 10 watches annually but as we’ve become more and more well-known, more complicated watches are requested so we only end up making about 5-6 pieces max a year. Therefore prices needed to go up. Prices start about US$250,500 up to US$850,000. R
2010 Meridian 441 Sedan HKD 4,280,000
DEMO CHAPARRAL H2O 18SF
CHAPARRAL SIGNATURE 350
2010 AYCER 110’
HKD 250,000
HKD 2,800,000
EUR 4,800,000
2010 FRAUSCHER BENACO 909
2007 108’ SAN LORENZO
2007 FERRETTI 97’
HKD2,500,000
USD 6,442,000
EUR 3,500,000
2012 AZIMUT CUSTOM 116’
2011 70’ AZIMUT FLYBRIDGE
2012 PRINCESS 72’
USD 12,800,000
USD 2,600,000
GBP 1,999,000
Welcome to Boat Trade Hong Kong +852 2900 2222 Sanya +86 898 8860 0138 +852 9039 1717 +86 187 0898 6800 www.kingswaymarine.com
Last Word
Is it ethical to use exotic skins? The exotic skins industry is heavily regulated by the Conservation Committee and the strictest standards are adhered to, in the farms where I source my skins. To ensure continuity and preservation of the species, a small percentage of these animals are then returned back into the wild and of the skins I use, the meat of the animal is sent to the consumer market.
Ethan Koh on his exotic bags with bite You have three generations of master leather craftsmen above you – did you feel obliged to follow suit? Exotic skin craftsmanship is part of my DNA so the natural progression was for me to follow suit. But I feel that I have carved my own path by establishing a luxury handbag and luggage brand. Tell us about the materials you use for your bags? There are different skins which can be used to make my handbags; however the most precious ones are Niloticus crocodile from South Africa, Mississippiensis alligator from Louisiana and, the rarest and most exquisite of all exotic skins, Porosus crocodile from Australia because the scales are smaller and more refined. And the tanning process? The skins go through an extensive process of soaking, descaling, deliming and pickling and the tanning process which follows is, for me, as unique as an artist painting a parrot. I consider tanning exotic skins an art and what sets me apart from others. THE
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Tell us about the bespoke collection. We receive requests to do all sorts of things; compartments for hairdryers, sections in handbags for BlackBerrys! The Ethan K Bespoke service at my new Private Salon in London came about as a result of me wanting to extend the most intimate of experiences with my clients. You travel extensively. What are your thoughts on Hong Kong style? To me, women in Hong Kong are very sophisticated. They know what they want and are inspired by unusual things from the colour of a sofa to the colour of a nail polish and beyond. It’s easy to see why a lot of fashion trends across Asia begin in Hong Kong. What’s next for Ethan K? We have just launched the new Private Salon in Knightsbridge, London which is very exciting; we hope to open more beautiful, opulent salons in each of the world’s major fashion destinations. We are also in the midst of launching a very special collection, the Wizard of the Secret Garden. 2013 is a very busy year for us! R www.ethan-k.com