In recent times, the concept of “quiet luxury” has made a comeback under a new guise known as old money style. Previously, the quiet luxury trend gained traction after Gwyneth Paltrow’s ski accident trial in March, resonating with consumers even amidst financial challenges. The onset of the new year introduced “loud budgeting” as a counterpoint, promoting financial responsibility over lavish spending inspired by celebrities. Despite this shift, experts suggest that quiet luxury still thrives, with a focus on the timeless and classic appeal of “old money” aesthetics, regardless of actual wealth.
Sonya Glyn, editor of Parisian Gentleman, highlights the enduring appeal of old money style, which encompasses classic prep, mob wife aesthetics, and quiet luxury. This aesthetic reflects the current economic climate, shaped by the disparate financial impacts of the Covid pandemic. Amid a K-shaped recovery that favored the wealthiest individuals, the understated elegance of old money style contrasts with the ostentatious displays seen during previous economic peaks. This shift towards subtlety and sophistication embodies a sense of discretion and exclusivity, drawing appeal from a wide audience.
As consumers become more conscious of sustainability issues in the fashion industry, quiet luxury offers a compelling alternative to fast fashion. Thomaï Serdari, a professor at NYU’s Stern School of Business, emphasizes the importance of investing in high-quality pieces that can withstand multiple seasons. This approach stands in stark contrast to the disposable nature of fast fashion, which contributes to environmental degradation through greenhouse gas emissions and synthetic materials. By opting for timeless, well-crafted items, individuals can embrace a more sustainable and enduring style.
Contrary to common misconceptions, quiet luxury does not necessarily require a sizable budget. By exploring vintage and secondhand markets, budget-conscious consumers can curate a sophisticated wardrobe without breaking the bank. Sonya Glyn suggests that the key lies in purchasing items with lasting value, regardless of their price tag. This shift towards quality over quantity aligns with the principles of old money style, emphasizing longevity and sophistication over fleeting trends.
A Shift in Consumer Behavior
Carolyn McClanahan, a certified financial planner, advocates for a departure from the “keeping up with the Joneses” mentality in favor of quality and durability. In a time marked by rising inflation and economic uncertainty, investing in long-lasting pieces offers a more prudent approach to personal finance. By adopting the principles of old money style and quiet luxury, individuals can cultivate a sense of refinement and elegance that transcends fleeting fashion trends.
The resurgence of old money style signifies a departure from ostentatious displays of wealth towards a more understated and enduring form of luxury. As consumers prioritize quality, sustainability, and longevity in their purchasing decisions, quiet luxury offers a timeless and elegant alternative to fast fashion. By embracing the principles of old money style, individuals can cultivate a sophisticated wardrobe that reflects their discerning taste and commitment to craftsmanship.