World Economic Forum

It is one of life’s great ironies that the Paris couture shows always coincide almost exactly with the World Economic Forum in Davos. While the latter focuses on the looming issues of the day – the growing gap between the super-rich and pretty much everyone else, for example – the former caters to said super-rich and to their willingness to contemplate €20,000 gowns. It’s a stark contrast, in black and white and gold and silver.

A snowman wearing a CNN hat at Davos

A snowman at Davos yesterday. AFP/Getty Images

Reading the FT’s live blog from Davos as I sit warm in my hotel room in Paris (it is one of life’s cosmic jokes that Davos always coincides with that ultimate in 1 per cent consumer indulgence, couture), I was struck that among the debates on income inequality, critiques of Angela Merkel’s speech, and the growing concerns of the private equity folks about the end of their special tax status, one of the few topics everyone agreed on was the importance of hats.

Indeed, before the repercussions of George Soros’s lunchtime talk were analysed, his special hat was noted, and compared with the bigger furry hat of FT columnist Martin Wolf. Personally, however, I think both pale in comparison to the enormous furry gloves worn by Sir Martin Sorrell of WPP.