<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/ryan-reynolds?r=US&amp;IR=T">Ryan Reynolds</a> is one of the <a href="https://www.insider.com/the-25-best-dressed-men-of-2018-2018-12">best-dressed men in the world.</a></li><li>Though he may already be known as a style icon the world over, Reynolds outdid himself on Thursday night when he appeared on <a href="https://www.youtube.com/watch?v=dirzpZVDpxM">"The Tonight Show Starring Jimmy Fallon"</a> to promote his new Pokémon movie "Detective Pikachu."</li><li>The actor showed off the perfect summer suit, elevated by an inspired selection of accessories.</li><li>Best of all was his pocket square, which complemented the tone of his suit without matching it completely.</li><li>Jack Stammers of <a href="https://www.jack-davison.co.uk/">Jack Davison Bespoke</a> tailors in London told Business Insider that the patch pocket gave the blazer a "sportier, informal feel."</li><li>Reynolds also wore a <a href="https://www.omegawatches.com/en-gb/watch-omega-speedmaster-moonwatch-omega-co-axial-chronograph-44-25-mm-31192445101005">$12,000 Omega watch</a>, and some fun, patterned socks.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories.</a></li></ul><p>Just when you thought <a href="https://www.businessinsider.com/category/ryan-reynolds?r=US&amp;IR=T">Ryan Reynolds'</a> suits couldn't get any better, he pulls this linen gem out of the bag.</p><p>The actor has been one of the most stylish men in the business for a while now - <a href="https://www.insider.com/the-25-best-dressed-men-of-2018-2018-12">he was INSIDER's seventh best-dressed man of 2018</a> - but 2019 really seems to be his year.</p><p>In his press tour for his Pokémon movie "Detective Pikachu," Reynolds has shown us that waistcoats without a blazer really can be a good look (<a href="https://www.dmarge.com/2019/04/ryan-reynolds-detective-pikachu-style.html">if decked out in custom Brunello Cucinelli</a>), that you really can't beat a simple, <a href="https://www.instagram.com/p/Bwmno8MlQVb/?utm_source=ig_web_copy_link">grandad collar shirt</a>, and he's also given us the perfect <a href="https://www.instagram.com/p/BwijHWglkEz/?utm_source=ig_web_copy_link">off-duty weekend look</a>.</p><p>However, the suit he wore on <a href="https://www.youtube.com/watch?v=dirzpZVDpxM">"The Tonight Show Starring Jimmy Fallon" on Thursday</a> was a cut above the rest.</p><p>Reynolds teamed what appears to be some kind of a linen-mix suit with a classic button-down white shirt, a skinny slate-grey tie, and a pair of rough-and-ready brown leather shoes.</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>As always, however, the devil is in the detail. What was already a beautiful suit was elevated by the choices that Ryan (or his stylist) made around it.</p><p>As Will Davison of <a href="https://www.jack-davison.co.uk/">Jack Davison Bespoke</a> tailors in London <a href="https://www.businessinsider.com/what-to-avoid-when-wearing-a-pocket-square-according-to-style-experts-2018-6?r=US&amp;IR=T">previously told Business Insider</a>, a good pocket square "can change the look."</p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/what-to-avoid-when-wearing-a-pocket-square-according-to-style-experts-2018-6?r=US&amp;IR=T">This is the one thing you should never do when wearing a pocket square, according to men's style experts</a></em></p><p>"Pick out a colour from the tie or the suit and have that in the pocket square so they're similar tones to each other but not completely matching," Davison told us.</p><p>Reynolds does exactly what Davison says for his talk show look - his pocket square has a similar straw-like color to the suit, but with a contrasting silk texture and a dotted pattern.</p><p>It's a masterclass.</p><p><strong>Business Insider has a handy graphic to demonstrate what's going on here.</strong></p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>Davison's business partner, Jack Stammers, added that the patch pocket on the blazer gives it a sportier, informal feel. "It would look really nice worn with a powder blue shirt also," Stammers said.</p><p>Reynolds' other accessories include a blacked out <a href="https://www.omegawatches.com/en-gb/watch-omega-speedmaster-moonwatch-omega-co-axial-chronograph-44-25-mm-31192445101005">Omega Speedmaster Moonwatch</a>, which retails at $11,600, and some black and white striped socks, which lend a sense of fun and originality to the look.</p><p>Reynolds has a great stylist at the helm of his wardrobe to thank for his success - <a href="https://www.instagram.com/ilariaurbinati/">Ilaria Urbinati</a> also dresses the likes of Dwayne "The Rock" Johnson, Rami Malek, and Chris Evans.</p><p>If it leads to more looks like the one exhibited on "The Tonight Show," we hope Reynolds' relationship with Urbinati continues to thrive for years to come.</p><div>    </div>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/flintstones-home-hillsborough-california-millionaire-real-estate-2019-5">Take a look inside the real-life 'Flintstones' home that costs $2.8 million</a></h3>        <div>                    </div>    </div>

Ryan Reynolds' latest suit is his best yet, and one detail proves his style is head and shoulders above the rest

<p class="source"><span>Scott Olson/Getty Images</span></p><p>Mark Zuckerberg, heartland <a href="http://www.businessinsider.com/what-its-like-to-have-a-surprise-dinner-with-mark-zuckerberg-2017-5">tourist</a> and Facebook's CEO, is famous for wearing <a href="https://www.facebook.com/photo.php?fbid=10102616790362931&amp;set=a.529237706231.2034669.4&amp;type=3&amp;theater">the same thing every day</a>.</p><p>If you've seen a photo Zuckerberg from the past few years, you've most likely seen him wearing a grey shirt, blue hoodie, jeans, and <a href="http://www.businessinsider.com/sneakers-worn-by-tech-execs-2017-5">Nikes</a>. </p><p>He has a closet full of grey t-shirts: </p><p class="source"><span>Facebook</span></p><p>Zuckerberg doesn't just wear any old plain grey Hanes t-shirt, though. His are special ordered from Brunello Cucinelli, and reportedly cost between $300 and $400. A few years ago, H&amp;M rolled out a <a href="http://markforhm.com">joke</a> "Zuckerberg collection," but that's not on sale anymore.  </p><p><a href="https://www.facebook.com/blaus.kuchroithner">Klaus Buchroithner</a>, CEO of Vresh Clothing, decided to study Zuckerberg's shirt closely, and make a replica of it, or as "as close to the original as possible" without being the same exact item - kind of like how Instagram rolls out new features.</p><p><span>Buchroithner</span> looked at the fabric, the color, and even the length of the t-shirt while crafting <a href="https://www.zuckerbergshirt.com/?ref=producthunt">the replica</a>. </p><p>Now the "Zuckerberg Shirt" <a href="https://www.zuckerbergshirt.com/?ref=producthunt">is on sale for 40 euros, or about $46</a>. They're made in Italy and all profits go to the <a href="https://en.wikipedia.org/wiki/Chan_Zuckerberg_Initiative">Chan Zuckerberg Initiative</a>, a philanthropic company funded by the Facebook fortune that sometimes invests in startups. </p><p>Here are the "specs" for the "<a href="https://www.zuckerbergshirt.com/?ref=producthunt">Zuckerberg Shirt</a>:" </p><p style="padding-left: 30px;"><strong>Fabric</strong> 100% mercerized combed cotton, Made in Italy (extra soft)<br /><strong>Weight</strong> 180g per m² (20% more than industry standard)<br /><strong>Color</strong> zucker-grey tones, melange (sale e pepe)<br /><strong>Stitching</strong> double-stitched with PEGASUS EX3215-03 Serger</p><p>And here's Buchroithner wearing his 40-Euro shirt:</p>            <h3>NOW WATCH: <a href="http://www.businessinsider.com/us-giant-barcodes-aerial-calibration-targets-2017-6">Here's why there are mysterious giant barcodes across the US</a></h3>                                    Please enable Javascript to watch this video

You can now buy a replica of Mark Zuckerberg's crazy expensive plain grey t-shirt for $46

<p>
	When it comes to finding the right outerwear, you need some options.</p>
<h2>
	<strong>1. The Refined Parka</strong></h2>
<p>
	The parka you throw on to walk the dog this is not. What's great about technical pieces of late is that designers are taking them seriously as a substitute for traditional overcoats. Consider the slate-gray canvas version by Hermès. It's slick enough to wear over a suit or with a pair of jeans, but it doesn't look like a slicker.</p>
<h2 class="sub-header">
	 </h2>

	
		
			
			<p class="source">
				<a href="http://www.details.com/fashion-style/coats-and-jackets/201411/stylish-winter-coats">Nicholas Prakas</a></p>
			<p class="caption">
				1. Coat ($4,450) by Hermès. Shirt ($460) by Tom Ford. Shirt ($275) by Eidos. Pants ($870) by Brunello Cucinelli. Boots ($995) by Dries Van Noten. 2. Margiela's minimalist nod to the original fishtail was designed in 1951 to keep American soldiers warm during the Korean War. Maison Martin Margiela ($2,685). 3. A classic silhouette lends a heritage vibe, while taped seams and a bonded-nylon lining make this wool version as modern as ever. Club Monaco ($625).</p>
		
		
	

<h2 class="sub-header">
	<strong>2. The Work-Appropriate Puffer</strong></h2>
<p>
	Go ahead and wear a puffy coat over a suit-as long as it's as aesthetically pleasing as the Balenciaga iteration shown here (left). Besides its hidden magnetic closures (which are pretty cool), what sets this puffer apart from its athletic, cropped cousins is a streamlined silhouette that reads more office-friendly than ski-lift-ready.</p>


	
		
			
			<p class="source">
				<a href="http://www.details.com/fashion-style/coats-and-jackets/201411/stylish-winter-coats">Nicholas Prakas</a></p>
			<p class="caption">
				1. Coat ($2,295) by Balenciaga. Suit ($1,295) by BOSS. Shirt ($290) by Michael Tapia. Tie ($285) by Brunello Cucinelli. Belt ($310) by Prada. Shoes ($760) by Dior Homme. Socks ($9) by Gold Toe. 2. A bold stripe doesn't come off as brash when it's done in muted colors. Think of it as a patterned coat for pattern-phobes. Z Zegna ($2,915). 3. Cut like a mac and reversible (one side is wool, the other water-resistant nylon), this navy number is timeless. Brunello Cucinelli ($3,115).</p>
		
		
	

<p>
	<strong>3. The Unlined Overcoat </strong></p>
<p>
	Why lose a layer when you're trying to keep warm? Because the soft-shouldered construction of an unlined coat, a hallmark of Neapolitan tailoring, is the epitome of relaxed elegance. We especially like Burberry's modern interpretation of the caban coat seen here: The double-faced cashmere protects against the chill while the generous cut offers room to move.</p>


	
		
			
			<p class="source">
				<a href="http://www.details.com/fashion-style/coats-and-jackets/201411/stylish-winter-coats">Nicholas Prakas</a></p>
			<p class="caption">
				1. Coat ($4,195) by Burberry Prorsum. Sweater ($750) by Belstaff. Jeans ($295) by Levi's Vintage Clothing. Sneakers ($425) by Bally. Socks ($9) by Gold Toe. 2. Skip the buttons and embrace this robelike coat on days you'd really rather be at home on the couch. Valentino ($2,250) 3. A double-breasted topcoat in a herringbone pattern will perpetually read well-dressed. Eidos ($1,595).</p>
		
		
	


<h3>
	More From Details:</h3>
<p>
	<a href="http://www.details.com/fashion-style/rules-of-style/201209/mens-suits-tailoring-guide?mbid=synd_bi">57 Rules of Style</a></p>
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	<a href="http://network.details.com/post/the-top-five-hairstyles-for-men-2013?mbid=synd_bi">Top 5 Hairstyles for Men</a></p>
<p>
	<a href="http://www.details.com/style-advice/perfect-wardrobe/201403/best-mens-style-fashion-for-work-office?mbid=synd_bi">10 Rules of Style When Dressing For Work</a></p>
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	<a href="http://www.details.com/body-health/exercise-workout/201410/five-moves-full-body-workout?mbid=synd_bi">The Only 5 Exercises You'll Ever Need</a></p>
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	<a href="http://www.details.com/blogs/daily-details/2014/08/what-to-do-when-your-hair-starts-thinning.html?mbid=synd_bi">What to Do If Your Hair Starts Thinning</a></p>

A Man's Guide To Stylish Winter Coats

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Shutterstock</span></p><p class="caption">If your closet has holes in it, fill it with a blazer.</p></div><p></p></div></div>When a man finally reaches adulthood, at some point he looks at his wardrobe and finds it lacking.</p><p>At that point, he must make a choice: what should he buy to fill those holes in his closet first?</p><p>According to Italian menswear designer Brunello Cucinelli, <a href="http://www.gq.com/story/brunello-cucinelli-pitti-uomo-interview-2016">who recently spoke with GQ</a>, the answer to that is simple: a beautiful, versatile blazer.</p><p>We at Business Insider have <a href="http://www.businessinsider.com/why-every-guy-should-own-a-navy-blazer-2015-11">extolled the virtues of the blazer</a> before, but <span>Cucinelli's</span> point is even more specific.</p><p>"A beautiful blazer is the starting point," he told GQ. "<span>You can wear it to work, to get a newspaper, to dinner, a T-shirt underneath, or a proper shirt with a tie, or anything."</span></p><p>The versatility is what makes it so beautiful - and useful. It's an investment that will pay dividends in the coming years, and if your closet is missing it, you have so many fewer options for wearing the other items in your closet, too.</p><p>Here's what to keep in mind when you buy one:</p><ul><li><span style="line-height: 1.5em;"><strong>Color:</strong> </span><span style="line-height: 1.5em;">Our advice has always been to get one in navy, as such a go-anywhere-do-anything color just increases the versatility of the garment</span><span style="line-height: 1.5em;">.</span></li><li><span style="line-height: 1.5em;"><strong>Model:</strong> Structured versus unstructured is the question all guys ask when buying their first blazer. Structured is more formal, like a suit jacket, while unstructured is less formal and more like a regular coat. In fact, this question is not one that can be answered universally - it's different for every guy. You must consider where you'll primarily be wearing your blazer, and then decide which kind will better fit into your lifestyle.</span></li><li><span style="line-height: 1.5em;"><strong>Brand:</strong> Some of our favorites include models by <a href="https://www.jcrew.com/mens_category/sportcoatsandvests.jsp">J. Crew</a> and <a href="http://us.suitsupply.com/en_US/jackets">Suitsupply</a>, but we're sure your favorite brand makes a great one as well.</span></li></ul><p>Don't be put off by the high price tags you might come across for the piece - we can assure you, it's more than worth it.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/jim-cramer-come-back-jon-stewart-beatdown-show-up-motivational-speech-2016-1">Jim Cramer's inspiring words on how to come back from a beatdown</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="43czgxMDE6GqIsZB86yhV6ZIeE5-jMiE" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

This is the first item every guy should buy when building out his wardrobe

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.flickr.com/photos/strelka/28722335475/">Strelka Institute/Flickr/Attribution License</a></span></p></div><p></p></div></div></p><ul><li><strong><a href="http://markets.businessinsider.com/funds/Oppenheimer-Global-Fund;A">Oppenheimer Global Fund</a>, a portfolio of large-cap US and international stocks, has outperformed its MSCI benchmark index since 2008.</strong></li><li><strong>Co-fund manager John Delano told Business Insider the fund uses a thematic approach that fits into the acronym MANTRA, which stands for Mass Affluence, New Technology, Restructuring, and Aging.</strong></li><li><strong>For example, mass affluence is based on the bet that the world is going to get richer. As such, the fund is invested in luxury brands including <a href="http://markets.businessinsider.com/stock/LVMH-Quote">LVMH</a>.  </strong></li></ul><p><br />The <a href="http://www.businessinsider.com/stock-market-dow-jones-industrial-average-news-2018-2">stock market</a> may be going haywire, but John Delano has his sights set on 20 years from now.</p><p>He's the co-manager of the $12 billion Oppenheimer Global Fund, a portfolio of large-cap US and international stocks that has outperformed the MSCI All-country World Index (excluding the USA) since 2008 according to <a href="http://performance.morningstar.com/fund/performance-return.action?t=OPPAX&amp;region=usa&amp;culture=en-US">Morningstar</a> data. </p><p>Like many stock pickers, Delano and his team have a bottom-up approach that scrutinizes several companies to single out stocks with the highest return potential. But he also uses a thematic approach to find companies tied to economic trends he thinks would still be powerful many years from now.</p><p>The themes fit into a simple acronym: MANTRA, which stands for <strong>M</strong>ass <strong>A</strong>ffluence, <strong>N</strong>ew <strong>T</strong>echnology, <strong>R</strong>estructuring, and <strong>A</strong>ging.</p><p>"The stocks are driven bottom-up, are owned for five-to-ten-plus years, and are driven by these ongoing trends that have a very long life to them, Delano <a href="http://www.businessinsider.com/stock-picks-investing-guidelines-oppenheimer-global-funds-john-delano-2018-2">told Business Insider</a>. "We're betting on the sustainability of the advantages the companies have to really garner outperformance and returns."</p><p>Delano used mass affluence to illustrate how MANTRA comes to life in the portfolio. </p><p>Mass affluence is based on the view that, on aggregate, the world is going to get richer. </p><p>"As the world continues to create more wealth and people are able to move from a 'needs' to a 'wants' category with disposable income, one of the things they naturally want is for luxury goods," Delano said. </p><p>One of the fund's biggest holdings is<span> </span>LVMH, the parent of Louis Vuitton. Delano sees it as a company that's keen to buy out others for its growth, as the $13 billion deal with Christian Dior last year demonstrated. It's a company that "<span>has the brands and economic moat that gives them a chance to earn sustainable returns," Delano said. </span></p><p>Luxury retailers stand out from the broader industry that's in turmoil, he added. That's because they usually have full control over their distribution. "<span>Other retailers are really just trying to distribute products that they don't own," he said. "So the margin opportunity is drastically different."</span></p><p>Other luxury brands the fund owns include <a href="http://markets.businessinsider.com/stock/Kering-Quote">Kering</a><span>, </span><a href="http://markets.businessinsider.com/stock/TIF-Quote">Tiffany</a><span>, and </span><a href="http://markets.businessinsider.com/stock/Brunello_Cucinelli_Spa-Quote">Brunello Cucinelli</a><span>.</span></p><p>Mass affluence is also likely to increase the need and desire for travel, Delano said.</p><p>The market for makers of consumer aircraft is effectively a duopoly between <a href="http://markets.businessinsider.com/stock/airbus-Quote">Airbus</a> and <a href="http://markets.businessinsider.com/stock/BA-Quote">Boeing</a>. Delano's pick is <a href="http://www.businessinsider.com/boeing-stock-price-and-airbus-competition-2018-1">Paris-listed Airbus</a>.</p><p>"<span>For Airbus, the real opportunity has been it's evolved over time from being a company really controlled by the various countries in Europe to being more commercially oriented," he said. The company was created in an agreement between the governments of the UK, France, and West Germany in 1970. </span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/microsoft-president-brad-smith-davos-interview-trump-us-cant-get-too-isolationist-2018-1">Microsoft President Brad Smith says the US shouldn't get 'too isolationist'</a></h3>        <div>                    </div>    </div>

A simple mantra has helped this $12 billion investor crush the market for the past decade

<p><div class="KonaFilter image-container float_right"><div class="image on-image"></div><p></p></div>We talked to three experts who know a thing or two about how a coat should fit.</p>
<p><strong>Brunello Cucinelli, fashion designer:</strong><br>"The easiest fix a tailor can make to a coat is to take in the waist-it will instantly give it more shape. The length is also very important. A coat should hit right above the knee."</br></p>
<p><strong>Brian Trunzo, co-owner of Carson Street Clothiers:</strong><br>"The traditional rule of sleeve length is that it should hit at the base of the thumb, but I like to have it a little higher-a centimeter and a half or two-so you can see the cuff. I don't mind if it's a little shorter than what the old guard says is right. But know that the shoulder is the death knell: If it doesn't fit you in the shoulders, you're in trouble. It's possible to trim down a shoulder, but it's labor-intensive and expensive, and so few tailors are going to be able to do it, it's just not worth your time."</br></p>
<p><strong>Joseph Ting, Details' New York City tailor:</strong><br>"The only thing that can't be fixed is if the coat is small-you won't have enough seam allowance to open it up. Also, I often taper the sleeves. When you look at a coat from the side, the whole thing looks better if the sleeve is slimmer."<br><br /></br></br></p>
<h3>More From Details:</h3>
<p><a href="http://www.details.com/fashion-style/rules-of-style/201209/mens-suits-tailoring-guide?mbid=synd_bi">The Complete Guide to Men's Suits</a><br><br> <a href="http://www.details.com/blogs/daily-details/2013/06/the-secret-benefits-of-beards.html?mbid=synd_bi">The Secret Benefits of Beards</a><br><br> <a href="http://www.details.com/style-advice/perfect-wardrobe/201403/best-mens-style-fashion-for-work-office?mbid=synd_bi">10 Rules of Style When Dressing For Work</a><br><br> <a href="http://network.details.com/post/top-7-colognes-women-want-you-to-wear-in-2014?mbid=synd_bi">Top 7 Colognes Women Want You to Wear in 2014</a><br><br><br><br /></br></br></br></br></br></br></br></br></br></p>

3 Tips For Looking Good In A Winter Coat

<p><span style="line-height: 1.5em;"><div class="KonaFilter image-container display-table float_right"><div><div class="image"></div><p></p></div></div>F</span><span style="line-height: 1.5em;">ashion critics may have to change their stance on whether leggings qualify as pants. </span></p><p><span style="line-height: 1.5em;">As designer leggings fetch prices equal to and exceeding the cost of a pair of Manolo Blahniks, t<span>he </span><a href="http://www.wsj.com/video/loud-leggings-the-new-trend-in-working-out/EBF77288-BFB0-4AD1-B3FE-788A4FABB2E6.html" target="_blank">$1.1 billion industry</a><span> is booming.</span></span></p><h3><span>Why are people paying $500 to $1,000 (or more) on what's basically stretchy workout pants? </span></h3><p><span>With the "athleisure" trend holding firm, designers have given the gym </span><span style="line-height: 1.5em;">staple a brand-new look,</span><span style="line-height: 1.5em;"> mixing materials, adding patterns, and playing with texture.</span></p><p>Selling for $1,150 and $550, respectively, <a href="http://www.neimanmarcus.com/Brunello-Cucinelli-Cashmere-Blend-Shimmer-Leggings-Charcoal/prod179680359/p.prod?ecid=NMALRFeedJ84DHJLQkR4&amp;ci_src=14110925&amp;ci_sku=sku158511307">Brunello Cucinelli</a> and <a href="http://www.saksfifthavenue.com/main/ProductDetail.jsp?FOLDER%3C%3Efolder_id=2534374306439428&amp;PRODUCT%3C%3Eprd_id=845524446694700&amp;site_refer=AFF001&amp;mid=13816&amp;siteID=J84DHJLQkR4-9EzBxTQJKcfXYxpn4UqdBg&amp;LScreativeid=1&amp;LSlinkid=15&amp;LSoid=203720">Donna Karan</a> have gone as far as designing <em>cashmere</em> leggings. But make no mistake: those high price tags aren't<span style="line-height: 1.5em;"> limited to leggings made from expensive fabrics and skins.<br><br /></br></span><div class="KonaFilter image-container display-table"><div><div class="image"></div><p></p></div></div></p><h3>A standard pair of black, pull-on Givenchy leggings goes for $1,175 on <a href="http://www.farfetch.com/shopping/item10891189.aspx" target="_blank">Farfetch.com</a>. And Alexander McQueen gets $1,385 for its brightly colored leopard leggings, pictured above. <strong style="font-size: 1.17em;"><strong style="font-size: 1.17em;"><br /></strong></strong></h3><p><span style="line-height: 1.5em;">As noted by the </span><a href="http://nypost.com/2015/05/11/a-look-at-the-leggings-that-cost-900-and-the-women-who-buy-them/">New York Post</a><span style="line-height: 1.5em;">, celebrities and stylish city-dwellers are hitting the red carpet and the street in their high fashion leggings. According to Brook Jaffe, fashion director of Bloomingdale's, whom the paper spoke with, the sneaker trend has helped popularize printed designer leggings, which are flying off the department store's racks.  </span></p><p><div class="KonaFilter image-container display-table"><div><div class="image"></div><p></p></div></div></p><p>But many will say that it all started with <a href="http://www.businessinsider.com/yoga-pants-lululemon-reebok-athleta-price-value-2015-1" target="_blank">lululemon and its $100 yoga pants</a>, which begat similarly priced workout <span style="line-height: 1.5em;">pants from brands like </span><span style="line-height: 1.5em;">Stella McCartney (Adidas by Stella McCartney), Free People (FP Movement), and, just recently, ROWLEY Fitness, by Cynthia Rowley.    </span></p><p>Whether you believe leggings are pants or not, they're not going anywhere. In fact, they could even start replacing pants.  </p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/ces-smart-shirt-tracking-fitness-2015-1">This Smart T-Shirt Can Actually Make Your Workout More Effective</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="tzbWlvcjoxTGFK9Lfs-6VeAo8ioHmYSY" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Luxury fashion houses are embracing 'athleisure' with $1,000 leggings

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Pascal Le Segretain/Getty</span></p></div><p></p></div></div></p><ul><li><strong><a href="http://markets.businessinsider.com/funds/Oppenheimer-Global-Fund;A">Oppenheimer Global Fund</a>, a $12 billion portfolio of large-cap global stocks, has outperformed its MSCI benchmark since 2008. </strong></li><li><strong>But in picking what stocks go into the fund, portfolio manager John Delano pays little attention to what's happening to the benchmark. </strong></li><li><strong>"We have an acronym - MANTRA - which stands for Mass Affluence, New Technology, Restructuring and Aging," he told Business Insider.  </strong></li></ul><p><br />Ignoring your benchmark is one way to consistently beat it.</p><p>At least, that approach has helped the $12 billion <a href="http://markets.businessinsider.com/funds/Oppenheimer-Global-Fund;A">Oppenheimer Global Fund</a> outperform its MSCI benchmark since 2008, according to data compiled by <a href="http://beta.morningstar.com/funds/XNAS/OPPAX/quote.html">Morningstar</a>. </p><p>Sure, the portfolio of large-cap US and foreign stocks has recently benefitted from an overall resurgence in global economic growth. But John Delano, the fund's co-portfolio manager, says a rigorous stock-picking process and a focus on five key themes also guide how its composed.  </p><p>Business Insider recently spoke to Delano, who was recently nominated for Morningstar's 2017 International-Stock Fund Manager award.</p><p><em>The interview was edited for length and clarity. </em></p><p><strong>Akin Oyedele:</strong> What are some of the big-picture guidelines that guide your buy or sell decisions? </p><p><strong>John Delano:</strong> We don't look at a benchmark.</p><p>We're very focused on just finding the best 70-80 stocks with the best return potential. Everything gets driven from a bottom-up as opposed to a top-down perspective. We're thematic investors, so we're looking for economic trends that will go on for five, 10, 20 years.</p><p>The turnover in the strategy last year was about 6% or 7%. You're looking at a 15 year holding period on average.</p><p>We're looking for companies with a management team that we believe in and really think about partnering with. They've got the financial capabilities to see some of the opportunities that may come along.</p><p>We have an acronym - MANTRA - which stands for Mass Affluence, New Technology, Restructuring and Aging. </p><p>As an example, with mass affluence, as the world continues to create more wealth and people are able to move from a needs to a wants category with disposable income, one of the things they naturally want is for luxury goods.</p><p>One of our biggest holdings is Louis Vuitton. <a href="http://markets.businessinsider.com/stock/LVMH-Quote">LVMH</a> [its parent] has been an acquisitive company. They've just bought Christian Dior and have bought some other names over the years. It's one that has the brands and economic moat that gives them a chance to earn sustainable returns.</p><p><strong>Oyedele:</strong> When you mentioned LVMH I thought about the broader <keyword id="6354851" type="ORGANIZATION" weightage="60" keywordseo="Retail">retail</keyword> sector. Luxury as a category has not always been lumped together with the rest of the sector, but do you get questions about what's happening in retail, and do you see luxury as being different?</p><p><strong><div class="KonaFilter image-container display-table float_left"><div><div class="image on-image"><p class="source"><span>Oppenheimer Global Fund</span></p><p class="caption">John Delano</p></div><p></p></div></div>Delano:</strong> I do see it as being different. When I think about retail, I think about selling other people's products. And luxury is really about selling your products. LV is a perfect example of this. They have 100% control over their distribution. So they're really a brand that's got a direct consumer connection.</p><p>Other retailers are really just trying to distribute products that they don't own. So the margin opportunity is drastically different.</p><p>When you think about retail in general, and in an <a href="http://markets.businessinsider.com/stock/amzn-Quote">Amazon</a> world where the efficiency, cost to distribute, and pricing keep coming down, it's a very different situation. If LV was selling somebody else's product, somebody else could sell that even cheaper. That makes it very difficult. But when you're the one selling your product and you're competing on that exclusivity, it's a completely different economic situation. We own really no retail from that standpoint.</p><p><strong>Oyedele:</strong> Apart from LV are there any other luxury brands that you're betting on?</p><p><strong>Delano:</strong> We own <a href="http://markets.businessinsider.com/stock/Kering-Quote">Kering</a> which owns Gucci, <a href="http://markets.businessinsider.com/stock/TIF-Quote">Tiffany</a>, and <a href="http://markets.businessinsider.com/stock/Brunello_Cucinelli_Spa-Quote">Brunello Cucinelli</a>.</p><p><strong>Oyedele:</strong> Outside of retail, are there any other companies that you find particularly interesting right now? You mentioned earlier that you're not trying to mimic a benchmark. Are there any that you see yourself as contrarian on, but confident in?</p><p><strong>Delano:</strong> Frankly a lot of them are less controversial now than they have been, but I can touch on a couple.</p><p>We own <a href="http://markets.businessinsider.com/bonds/Airbus_SE-Bond-2021-XS1434160971">Airbus</a>, <a href="http://markets.businessinsider.com/stock/SPGI-Quote">S&amp;P Global</a>, <a href="http://markets.businessinsider.com/stock/C-Quote">Citigroup</a>, <a href="http://markets.businessinsider.com/stock/SAP-Quote">SAP</a>, and <a href="http://markets.businessinsider.com/stock/BMW-Quote">BMW</a>.</p><h3><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://www.businessinsider.com/boeing-stock-price-and-airbus-competition-2018-1"><p class="source"><span>Emirates</span></p></a></div><p></p></div></div>Read more about Delano's views on Airbus and the airline industry here.</h3><p><strong>Oyedele:</strong> What are your thoughts on the big tech names like <a href="http://markets.businessinsider.com/stock/fb-Quote">Facebook</a>, <a href="http://markets.businessinsider.com/stock/nflx-Quote">Netflix</a>, and <a href="http://markets.businessinsider.com/stock/appl-Quote">Apple</a>? </p><p><strong>Delano: </strong>We're invested in Facebook, we're not invested in the others. [<a href="http://markets.businessinsider.com/stock/googl-Quote">Alphabet</a> is the fund's biggest position.] And it's really about where we find that the valuation is compelling for our shareholders.</p><p><strong>Oyedele:</strong> Facebook and Google share something in common in that they have recently come under regulatory scrutiny, especially with regards to the 2016 election. How much of a concern is that to you?</p><p><strong>Delano:</strong> It's a natural evolution. As these companies touch more people's lives more often, the scrutiny they're under will continue to grow. They matter more everyday. I don't find it particularly unusual from that standpoint and it is something that they'll have to address and be cognizant of.</p><p>But you have questions about Google from a regulatory standpoint in Europe that aren't just about the 2016 election It doesn't overly concern me, but it's something that the company has to address.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/microsoft-president-brad-smith-davos-interview-trump-us-cant-get-too-isolationist-2018-1">Microsoft President Brad Smith says the US shouldn't get 'too isolationist'</a></h3>        <div>                    </div>    </div>

Meet the $12 billion investor who's beat the market since the financial crisis mostly by ignoring it

<p><span style="font-size: 15px; line-height: 1.5em;"><span class="KonaFilter image-container display-table float_right"><span><span data-post-image="" class="image on-image"></span><p></p></span></span>AT THE TRANG TIEN PLAZA shopping mall in Hanoi, Vietnam's capital, on some evenings a curious spectacle unfolds. Couples in wedding finery pose for photographs in front of illuminated shop windows, with Salvatore Ferragamo, Louis Vuitton and Gucci offering the sort of backdrop for romance more usually provided by the sea or the mountains.</span></p>
<p>The women are not wearing Ferragamo's Vara pumps, with their distinctive bows, or toting Vuitton's subtly monogrammed handbags. They cannot afford them.</p>
<p>Tran Van Cuon, who assembles mobile phones at a Samsung factory, posed with his fiancée in a brown suit and bow tie that cost him the equivalent of $150. Some day he hopes to become a customer in the mall. Until then, he will proudly display the photos in his home.</p>
<p>To stumble across an outpost of European luxury in a relatively poor and nominally socialist country is not all that surprising. Luxuries such as silk have travelled long distances for many centuries, and even modern luxury-goods makers have been pursuing wealth in new places for more than a century.</p>
<p>Georges Vuitton, son of Louis, the inventor of the world's most famous luggage, showed off the company's flat-topped trunks (better for stacking than traditional round-topped ones) at the Chicago World's Fair in 1893.</p>
<p>The oil-rich Middle East has been a magnet for expensive foreign trinkets since the 1960s. The Japanese became insatiable consumers in the 1970s. Today, two in five Japanese are thought to own a Vuitton product. And now it is China's turn to lap up luxury.</p>
<p>As luxury-goods sales have expanded geographically, they have also spread across the social scale. When Coco Chanel created her No. 5 perfume in the 1920s she reserved it for her best couture clients, but in the following decade she sold it in smaller bottles so that more women could afford it.</p>
<p>Cartier's "Les Must" jewellery in the 1970s put the brand within reach of consumers who could only yearn for Panthère necklaces and Tank watches. Many other brands followed Cartier's sortie du temple (descent from the temple), seeking to broaden their appeal while retaining their cachet. Not all succeeded.</p>
<p>Over the past 20 years the number of luxury-goods consumers worldwide has more than trebled to 330m, according to Bain &amp; Company, a consulting firm. Their spending on expensive jewellery, watches, clothing, handbags and so on has risen at double the rate of global GDP. Most of these new buyers are not the very rich but the merely prosperous, with incomes of up to EUR150,000 ($188,000). Shares of listed luxury companies have far outperformed those of other companies (see chart).</p>
<p><span class="KonaFilter image-container"><span data-post-image="" class="image on-image"></span><p></p></span></p>
<p>Consumers' rush to quality has created billionaires at a rate that Silicon Valley might envy, especially among the main shareholders of luxury conglomerates that have gathered together many of the best-known brands. They include Bernard Arnault, a French tycoon who controls LVMH, owner of Louis Vuitton, Moët &amp; Chandon champagne and a host of other brands, and his rival François-Henri Pinault, whose Kering group owns Gucci, a big Italian leather-goods maker.</p>
<p>Nick Hayek's Swatch Group and Johann Rupert's Richemont (Cartier's owner) are powerhouses in watches and jewellery. Among the owners who have made fortunes from selling stakes to investors in the past few years are Brunello Cucinelli, whose eponymous company makes casual-chic clothing at serious prices, and Remo Ruffini, a fellow Italian who floated Moncler, a maker of down jackets.</p>
<p>Personal luxury goods are just one small corner of this empire of opulence. Upmarket options can be found in industries from health care to banking, though most analysts leave such things out of their reckoning. Using consumers' own perception of what constitutes luxury goods and services, the Boston Consulting Group reckons that $1.8 trillion was spent on such items in 2012. The biggest category is travel, followed by cars and then personal luxury goods. Bain comes up with a smaller sum for a similar spread of sectors (see chart). But luxury's boundaries are fuzzy and hotly disputed.</p>
<p>This special report will concentrate on personal goods, which face the tricky task of trying to achieve global scale while maintaining the artisan roots that give them rarity appeal. Ultra-expensive cars will make only a brief appearance, and yachts will just sail by on the horizon: globally, only 14,000 people are able to afford a really big one. But the report will include such fast-growing "experiential" sectors as hotels and wine, which are growing faster than things to buy and own.</p>
<p>To view the world through the lens of luxury is to see it subtly altered. Some of the normal rules do not apply to luxury-goods makers, even though in many ways they are similar to other consumer-goods companies. The cost of production is not usually a prime concern and capital investment is generally modest, except for watches.</p>
<p><span class="KonaFilter image-container display-table"><span><span data-post-image="" class="image on-image"></span><p></p></span></span></p>
<p>A really prestigious item can be a "Veblen good", named after an American economist born in the mid-19th century who noticed that demand for some goods actually rises as they get more expensive because they confer yet more status. And the margins even on lesser luxury goods are much better than on mass-market items.</p>
<p>Luxury companies like to set their own agenda. Their creative directors oversee both the development of new products and the way they are presented in magazines, shop windows and online. "We are not going to let people influence the vision," says Patrick Albaladejo, deputy managing director of Hermès, a French luxury house so august it claims not to have a marketing department.</p>
<p>Luxury companies often get the most attention for the things they sell least of. Karl Lagerfeld, Chanel's creative director, made headlines this year by sending his models down a catwalk decked out as a grocery shop. But "the bread and butter of the company are chemicals," explains Armando Branchini of the Altagamma Foundation, which represents Italian luxury firms. Luxury perfumes and cosmetics are thought to account for over half of Chanel's business.</p>
<p>Diageo, a big drinks company, has a "Reserve" division that gives special attention to its priciest tipples, such as Johnnie Walker Blue Label whisky. They are marketed through the patient cultivation of the coolest bars and influential "advocates". "You need to be a black belt in relationships when it's about luxury," says James Thompson, who runs the division.</p>
<p>Luxury's lens does odd things to the map as well. Europe is still the pre-eminent maker; its brands account for 70% of the world's luxury consumption. Germany matters in cars and yachts, but the real powerhouse is Italy, which serves as the workshop for French fashion and leather goods as well as its own.</p>
<p>Luxury is "one of the few industries where Europe has a sustainable competitive advantage", says Michael Ward, managing director of Harrods, a posh London department store. America is both an underexploited market, given its wealth, and a base for brash competitors such as Coach, Michael Kors and Kate Spade, which are challenging established European brands with a more affordable take on luxury. China, already a voracious consumer, is just beginning to stir as an exporter.</p>
<p><span class="KonaFilter image-container display-table"><span><span data-post-image="" class="image on-image"></span><p></p></span></span></p>
<h3>The pope doesn't wear Prada</h3>
<p>Of late, though, the champagne has gone a bit flat. The war in Ukraine and the sanctions imposed on Russia in response have put off rich citizens of that country, among the giddiest new consumers. The Japanese went on a spree early this year ahead of a rise in value-added tax, then stopped spending.</p>
<p>The Ebola epidemic in Africa and pro-democracy protests in Hong Kong, where Chinese mainlanders do much of their shopping, have unnerved consumers. Most important, slower economic growth and the anti-corruption campaign mounted by Xi Jinping, China's leader, have dampened the spirits of Chinese shoppers, who now account for nearly a third of the global demand for personal luxury goods. The share prices of recently listed luxury companies have fallen by a quarter this year. After two decades when annual growth averaged nearly 6%, the rate this year will be just 2%, predict Bain and Altagamma.</p>
<p>These passing crises come on top of more profound changes. One of them is a shift from "having" to "being", especially in rich countries, where the well-off are becoming less keen on owning and more interested in experiencing things. Consumers in China are turning from monogrammed showiness to subtler elegance.</p>
<p>Younger people everywhere have their own ideas about how to consume luxury, helped by social media and e-commerce. Inequality is a growing concern from Berlin to Beijing. Last year a pope whose red shoes were widely (but wrongly) thought to have been made by Prada, an Italian fashion house, gave way to one who shuns the Apostolic Palace for a guesthouse. That captures the mood and contributes to it.</p>
<p>Sobriety has bypassed some sectors, including fine wine and expensive cars. Yacht sales, too, are buoyant again after a period in the doldrums in the late 2000s, and today's yachtsmen often add a helicopter or two to their order. But mostly substance is winning over style.</p>
<p>In some ways, today's preoccupation with sustainability plays into the hands of luxury-goods makers. With their ample margins, they can afford to reduce the environmental damage they cause. "Luxury can show the path that answers the major issues of our century," argues Marie-Claire Daveu, Kering's sustainability chief.</p>
<p>By and large, makers of luxury goods employ European workers rather than sweatshop serfs in Bangladesh. The key trend now, says Diageo's Mr Thompson, is "away from show for its own sake towards knowledge, appreciation, craft and heritage--something with a story."</p>
<p>Click <a href="https://subscriptions.economist.com/nwcd">here</a> to subscribe to The Economist</p>
<p></p>

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