Quiet Luxury Up… Aspirational Wealth Down

I’ve been drawn to fashion and luxury goods since I was in junior high. I’m not suggesting I ran around school in silk and cashmere while carrying my books in a Chanel bag. I couldn’t afford any of those things then, and I wasn’t about to ask my parents. My love of fashion and luxury goods grew and grew, and when I got to college in NYC, it exploded. Like most college students, my extra money wasn’t spent on designer goods, but rather on drinks and french fries (and still is to a degree). I wanted to go to school for fashion design, but my parents insisted on something more practical. So, I’ve long appreciated the artistry involved in the creation of a cohesive collection and a must-have handbag or pair of shoes. From the designs, patterns, materials and packaging, I recognized how many things had to come together to bring an object to life – not to mention all the people who made it happen!

It would come as no surprise to anyone that my career is now centered on luxury beauty and fashion. But I still catch myself sometimes, surprised, that I get to spend my time on what I’ve enjoyed since I was a young adult. We’re often the last to see these things, right? I’m grateful that I’ve found a way to showcase my sincere appreciation for these industries, and that I get to share it all with you in the wonderful community we’ve created together. I know I’m not alone in sharing that my style and preferences are dynamic, they change over time. Sure, my love for a few “can’t live without” items will likely never diminish, but with every new fashion trend, designer and season, I leave myself open to experience it all – to get crushes on new clothes and accessories. Then I give myself grace to change my mind. Fickle, I know. But it’s good to try things, to change and grow out of one thing and into another. Our shopper (consumer) psychology isn’t stagnant. What appeals to us now may not down the road. However, one “trend” that seems to be the underlying current in all my wardrobe choices is this “quiet luxury” trend that’s making a reappearance.

Over the last few months, I’ve read a number of articles related to quiet luxury vs. aspirational wealth. They are loosely related concepts in lifestyle and consumer choices, yet they reflect different attitudes toward luxury and success. Aspirational wealth in fashion places a significant emphasis on image and external perception. Consumers here lean toward the desire for visible displays of success like bright colors, flashy patterns and visible logos. It’s considered a “loud” approach as it overtly projects an image of affluence and status. Aspirational shoppers aren’t the ultra rich. Instead, they treat themselves to upscale items that symbolize wealth and enjoy a sense of accomplishment in acquiring such a special luxury good.

Logo-heavy brands such as Chanel and Louis Vuitton will always design pieces that appeal to a large majority of fashion enthusiasts but overall, consumers in the retail category of “aspirational wealth” are cooling their spending and designers are taking notice. Many young shoppers who used to gravitate toward bold designs and eye-catching logos in order to achieve some level of external validation are now preferring brands with a more minimal aesthetic – a brand or style that could be considered more mature, classic in nature. While aspirational wealth spending has pumped the breaks, overall spending has actually increased. Since aspirational shoppers are generally not wealthy, and are forced to choose where to spend their hard-earned money, one could conclude that former aspirational wealth shoppers are placing their attention and money elsewhere.

While traveling to Florence and Milan in June, I was struck by the number of American tourists. It left me wondering if American aspirational wealth shoppers are now spending their hard-earned dollars on traveling and not Chanel bags. Perhaps the quarantine and drastic halt of invitations to social gatherings during the era of Covid led many consumers to reprioritize their spending habits. What good are shiny attention-grabbing items when there’s no opportunity for them to leave the closet? Where aspirational wealth shoppers once saved up for a LV handbag, maybe they are now saving up for plane tickets to photogenic destinations and other travel-related costs like hotels.

All fashion publications right now are broadcasting the same lifestyle preference: one that leans heavily towards quiet luxury. In fact just the other week Harper’s Bazaar released an article entitled, “We’re Entering an Era of Logoless Luxury” in which they wrote, “If the collections over the past few years were filled with bright, vibrant, mood-boosting infusions of color and shimmer—clothes conceived for a once-aspirational vision of a Covid-free future of revenge partying—then designers have turned just as determinedly toward understatement for fall, with an emphasis on the finer points of quality and design.” It’s not surprising that more and more consumers are appreciating quiet luxury for its ability to transcend time and repel rapidly changing trends. Quiet luxury items are designed to stand the test of time, to be enjoyed for more than one season yet still maintain their relevance. There’s a sense of deep satisfaction in owning something of high quality that gives you “time back” in not having to chase the next best thing.

Since aspirational wealth shoppers have quieted, no pun intended, quiet luxury seems to be here to stay and will inform designers for many collections to come. The overall mood in the fashion world has shifted into something more subdued, considering quality over quantity. It invites you to join the “secret society” of people who know luxury when they see it, all without a logo hitting them in the eye. Less is more with quiet luxury, and the looks for this fall and winter are noticeably logo-free. Phoebe Philo’s return is slated for September, and the queen of quiet luxury could not have timed her return any better. A former design assistant to Stella McCartney, she’s been rising in the fashion ranks ever since. According to Woman’s Wear Daily, her highly anticipated collection will include over 150 pieces of ready-to-wear, leather goods, jewelry, eyewear and footwear. Sabrina Marshall, co-founder of the luxury resale site Re-See told Harper’s Bazaar, “She knows how to balance making us dream with the reality of how a modern woman really dresses. She’ll go down in history, the same way that Yves Saint Laurent did for starting ready-to-wear and liberating women.” On top of that, Philo values inclusivity, saying she believes that anyone, no matter what shape or size, can be sexy and beautiful. Cheers to that! 

Below I’ve shared some of my favorite quiet luxury designers, the first of which is The Row. On the website Who What Wear they wrote, “If The Devil Wears Prada was set in 2023, Miranda Priestly’s iconic line would no longer be ‘Are those the Chanel boots?’ Now, it would be ‘Are those The Row?’” I have no doubt Miranda’s character would recognize and appreciate something like The Row. As a fashion magazine editor, she knew both loud and quiet brands. Her character’s outfits in the movie transitioned so effortlessly between both styles yet seemed to favor a quiet luxury look. I’m cautiously optimistic that even Miranda would appreciate these quiet brands:

The Row

Khaite

Toteme

Bottega Veneta

Loro Piana

Brunello Cucinelli

You may have heard me talk recently about quiet luxury in some of my videos. As I shared in this vlog, quiet luxury doesn’t necessarily have to be about traditional fashion and luxury goods. I consider my passion and appreciation for fresh flowers, teas and candles to be examples of my quiet luxury choices. I’m willing to spend money there because they are simple purchases that put me in a healthy and productive headspace. Admittedly, I also enjoy the fact that I don’t have to try anything on.

Friends, I’d love to hear whether your taste in luxury goods is more quiet luxury or aspirational shopper? Feel free to share your favorite items with us. You may give us ideas for future investments.