Actress Gwyneth Paltrow enters the courtroom for her trial in Park City, Utah, March 24, 2023.

Rick Bowmer | Getty Images

What is quiet luxury?

Marked by expensive materials in muted tones, quiet luxury, also known as stealth wealth, is “the complete lack of logos and anything too conspicuous,” said Thomaï Serdari, professor of marketing and director of the fashion and luxury program at NYU’s Stern School of Business. 

“Luxury brands rely on the quality of the materials, and they have techniques that are very particular to them,” she said, such as the cut, stitching or other small details only recognizable to those who are very familiar with a particular item. “That becomes a differentiator for those in the know,” Serdari said.

More from Personal Finance:
Even as inflation rate subsides, prices may stay higher
Here’s the inflation breakdown for April 2023, in one chart
Series I bonds still ‘attractive’ as rate falls to 4.3%, expert says

In her daily courtroom appearances, Paltrow wore high-end brands such as Celine and The Row along with $1,450 black Prada boots and carried a $325 notebook by Smythson in the company’s signature blue.

“We have access to these semi-private moments, and we want to replicate their style,” Serdari said.  

Actress Gwyneth Paltrow exits a courtroom in which she is accused in a lawsuit of crashing into Terry Sanderson during a 2016 family ski vacation, Park City, Utah, March 21, 2023.

Rick Bowmer | Afp | Getty Images

Of course, understated luxury is not new.

On the heels of the financial crisis, “people who had money wanted to be a little bit more subdued,” Serdari said. In the decade and a half since, fashion became bigger and bolder, she added.

Now, the stealth-wealth style has been reborn once again as Americans’ economic circumstances get increasingly divided after the so-called K-shaped recovery left the wealthiest Americans even better off than before.

This time, however, there’s an even more understated undertone, notwithstanding the heftier price tag.

One of the central characters on “Succession” even scoffs at a tartan Burberry tote bag that retails for $2,890, calling the luxury bag “ludicrously capacious.”

How to get the stealth-wealth look for less

Can the typical American afford a $600 Loro Piana cashmere baseball hat, like the one worn on “Succession”? “I really doubt it,” Serdari said.

Fortunately, the quiet luxury trend is less about buying the exact item, but rather replicating the look with clothes that fit well, in neutral tones or monochrome, she said.  

Aspirational luxury brands doing well despite inflation, says Jan Kniffen

Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners in Jacksonville, Florida, suggests purchasing a few signature staples, such as a coat or handbag, on sale or from a local consignment store, and pairing them with less-expensive jeans and T-shirts from Target or Walmartjust as Roman Roy did in the final season of “Succession.”

This type of quiet luxury, without the name brands and logos, is “overdue,” added McClanahan, who also is a member of CNBC’s Advisor Council

As the economy slows and persistent inflation makes many Americans feel stretched too thin, it’s time to shift away from a “keeping up with the Joneses” mentality.

“Find quality things that last a lot longer — that’s better than throwaway pieces,” McClanahan said.

Subscribe to CNBC on YouTube.

Post source: cnbc

You May Also Like

5 Reasons Why Tenant Screening is Important

Tenant screening is crucial in helping property managers and landlords learn more…

Nationwide’s rush to buy Virgin Money risks member backlash, says ALEX BRUMMER

Nationwide’s aggressive pursuit of Virgin Money has sparked concerns among its members,…

Mike Lynch Accused of Fraud in Autonomy Sale to HP

Mike Lynch, the founder of Autonomy, a software company that was sold…

Pfizer Reduces Stake in Haleon From 32% Down To 24%

Report Pfizer Reduces Stake in Haleon From 32% Down To 24% –…