“Everyone wants to be rich!”
Fashion trends go in cycles. Minimalism and maximalism in fashion are polar opposite styles that are constantly battling for the top spot, cycling in and out for decades. Right now, judging by microtrends such as ‘clean girl aesthetic’ and ‘coastal grandmother aesthetic’, it seems that minimalism is firmly in vogue.
Enter ‘Stealth Wealth’, the new buzzword dominating the front page of every fashion publication’s website. You may have seen TikToks on your ‘for you’ page or articles on your Twitter feed teaching you how to dress in the understated, quiet luxury aesthetic of Gwyneth Paltrow at her recent court appearances, or character Shiv `Roy from hit HBO show Succession. But what is stealth wealth and why are we so preoccupied with what the ultra wealthy wear and how they live their lives?
Trend forecaster, Meaghan Smith, explained to me that stealth wealth is “garments that exude wealth and luxury without any flashy, garish elements that people may traditionally associate with the wealthy.” It’s wearing a jumper that, to the untrained eye, doesn’t look special when in reality it’s cashmere and costs £2,000. It’s the elite quietly saying “if you know, you know” through their clothing.
Stealth wealth style can include neutral colours, business casual pieces such as blazers, loafers, and shirts, and outerwear in quality fabrics such as wool and cashmere. Some popular brands that cater to this minimalist style are The Row, Max Mara, Tom Ford and Ralph Lauren. Most people wouldn’t choose these brands to make their first luxury purchase, perhaps opting for more well-known brands like Louis Vuitton and Chanel, but the affluent do not need to flaunt a monogrammed Neverfull when they can afford a plain white shirt for the same price.
Meaghan believes “these trends may be in response to today’s version of celebrity and essentially they’re ‘advertising’ using the garments they wear. I have noticed that public opinion has shifted towards distaste when celebs flaunt their wealth or misstep with tone-deaf social media posts.” Perhaps the popularity of stealth wealth is a rejection of flex and influencer culture, embracing a more ‘classic’ style as opposed to the extravagance of celebrities such as the Kardashians, who have often come under fire for problematic behaviour.
As previously mentioned, trends come in cycles. This is not the first time maximalist displays of wealth have been seen as excessive and distasteful.
Perhaps the origins of this trend is the ‘old money’ vs ‘new money’ debate, dating back to the mid-1800s. The American nouveau riche infiltrated English prep schools, ruffling the feathers of the upper classes as they did not approve of their lavish and opulent styles. These prep schools are also the origin of ‘preppy’ style, which has much overlap with stealth wealth.
Preppy style can include varsity jackets and sweatshirts, polo shirts and tennis skirts. Think country clubs, sailing, Oxford and Cambridge and Ivy League colleges, horse riding and skiing. This style has also been making the rounds on TikTok, called ‘old money aesthetic’. Again, this trend strays away from the typical ‘influencer’ look and appreciates preppy and old, heritage fashion houses such as Chanel, Miu Miu, Dior and Ralph Lauren.
Preppy style could mark the beginning of the quiet luxury trend, as Meaghan told me “the ‘old money aesthetic’ plays with this idea too, using more minimal, classy, and sophisticated design choices with a lack of logos.”
As seen in comments under this TikTok, such as “old money people are the real rich,” the ‘new money’ aesthetic is not treated as a desirable lifestyle. As Meaghan pointed out, many see today’s celebrities as distasteful for flaunting wealth on social media and label them as problematic. However, this does not take into account that ‘old money’ families can be problematic too.
Old money families’ wealth is often gained from racism. For example, the billionaire Koch family were caught stealing oil from Native American reservations in the late 1980s, which hasn’t stopped Koch Industries from being the second largest privately owned company in the US. Not to mention the Royal Family, who cost the taxpayer £86 million last year and regularly wear stolen jewels from India.
It is undeniable that none of these billionaire dynasties are people of colour, and many of the ‘old money aesthetic’ TikToks only show images of white people. Glamourising the lives of the 1% can diminish these issues, as focussing on aesthetics leaves out important context of how these people gained their wealth.
“Logomania was a huge trend in the 2000s, a time of excess and celebrity”
One example of the style of the elite becoming a trend was the rise of Burberry in the early 2000s. Burberry’s signature check print became synonymous with ‘chav’ in 2002 due to its popularity with streetwear style among the working class in the UK. Burberry began to lean into this popularity by releasing more affordable garments with the check print.
However, Burberry’s upper class clientele began turning away from the brand due to its new connotations. This tanked Burberry’s reputation as the wealthy did not want to be associated with the working class. To combat this, in 2006 Burberry removed the check print from much of their clothing and upped prices so working class people could no longer afford the brand. The upper class, despite their aspirational fashion, are often prejudiced against the working class. The reason they wear such luxurious garments isn’t just because they can afford it, but it sets them apart from those who can’t.
Luxury fashion has always been aspirational, and as trend forecaster Meaghan explains, “logomania was a huge trend in the 2000s, a time of excess and celebrity. The new interest in celebrity culture (thanks to rising stars like Paris Hilton and Kim Kardashian) meant that paparazzi were constantly documenting every move and garment.”
The logomania trend began in the 1980s and 90s with the rise of hip-hop culture. Well-known rappers and music artists such as Run DMC and Salt N Pepa wore knock-off clothing covered in logos, such as Louis Vuitton and Gucci monograms. Meaghan told me, “wealth could be easily flaunted by celebs using their garments, and then emulated by the public by wearing the same logos and brands. The boom in celebrity culture shifted public opinion to value status during this period.”
However, the 2008 financial crash shifted public opinion to believe wearing flashy logos was tacky, leading fashion to become more discreet and minimalist. This trend cycled back again in the late 2010s, with celebrities such as Billie Eilish wearing t-shirts and tracksuits covered in Louis Vuitton, Gucci and Fendi logos. Recent world events such as the COVID-19 pandemic once again has shifted public taste, going to show that trends are always in a constant cycle.
Meaghan explains, “the pandemic drove people inside and towards comfort clothing, so now that things are ‘back to normal’ on a wider scale, trends are shifting towards a more ‘put together’, smart-casual dressing style thanks to the newfound desire to be seen after so long in isolation.”
“People may be looking to emulate a more ‘rich’ aesthetic for the purpose of escapism”
This brings us to today, where the prevalence of the stealth wealth trend can be attributed to the popularity of the show Succession. First airing in 2018, Succession shows the lives of a mega rich family who own a media conglomerate. Instagram account, @successionfashion, documents many of the garments and brands worn on the show, where brands such as Ralph Lauren, Tom Ford and Max Mara regularly make an appearance.
Sue, a big fan of Succession, told me, “I love the fashion on Succession, I really like what Shiv wears especially. I’d definitely dress like that if I had a fancy event to go to, but I don’t think I’d wear it everyday as it’s all very expensive and quite formal.” It seems that in everyday life, stealth wealth might still look like you’re trying too hard. As the trend is born from social media, the majority of people joining in are posting their looks on TikTok and Instagram and maybe not wearing it in real life.
More flashy designer clothes do make an appearance on the show, however they signify the character being in crisis – for example, in S3E7 when Kendall wears a large, gold chain and a Gucci outfit. If the characters are not wearing quiet luxury style, they are acting out of character.
Another instance of more identifiable designer being worn on the show is in S4E1 when Greg’s date wears a Burberry check print handbag. The bag is called “ludicrously capacious” and “monstrous” by the rich Roy family, as even though the bag costs over £2,500, the print is too recognisable for their tastes. This scene is a nod to Burberry’s reputation in the early 2000s and highlights the class prejudice that is still prevalent within the upper classes.
Even though the lives of the 1% are unreachable for the majority of us, emulating the style of the wealthy is still a huge trend. Meaghan thinks, “everyone wants to be rich! Wealth is aspirational, which means dressing like the super rich is too. Especially now in a time of financial uncertainty for most, people may be looking to emulate a more ‘rich’ aesthetic for the purpose of escapism, to appear affluent to others or set themselves apart.” Becoming rich will always be an aspiration for many of us, so we try to dress the part.
In order to copy the stealth wealth trend, brands like Uniqlo, COS, Mango and even M&S cater to the minimalist style for a fraction of the price. However, the polyester fabric and messy stitching that’s found in high street brands’ garments will never measure up to the luxury finishes of designer brands. In reality, rich people aren’t going to give a nod of approval your H&M outfit, no matter how ‘old money aesthetic’ it is. The 1% are elite, and they like it that way. Excusing class prejudices allows it to continue, especially as the trend glorifies this divide in wealth and status.
The cost of living crisis has made all of us hyper-aware of our own money, and an aspirational trend of dressing like you’re wealthy lets us pretend we have the generational wealth so many of us could do with right now. Stealth wealth connotes that trying too hard is tacky and reflects similar prejudices against less wealthy people that were seen during Burberry’s boom in the early 2000s and in the 2008 financial crash. It’s exhausting to keep up with these trends, especially when it revolves around something as sensitive as money.
Time and time again, TikTok microtrends centre around white people and are less than inclusive. When searching aesthetics like ‘old money’, ‘stealth wealth’, ‘coquette’ and ‘clean girl’ on Pinterest, you’ll notice how few people of colour make an appearance. This is yet again evidence of covert prejudices behind the stealth wealth trend.
Thinking critically about trends can save you from buying a whole new wardrobe just to throw it away in six months. Trends on the Internet pass by so quickly, leading to overconsumption and wastefulness. Perhaps stealth wealth will be all over in a month, and you’ll be able to save your money in this financial crisis.