Pandemic Period 'Conspicuous Consumption' Fatigue
Recently, 'luxury brands known only to insiders' are gaining popularity over luxury goods with large logos. Instead of flashy designs, luxury items with no logos and simple designs are in demand. This trend is analyzed to be related to the social atmosphere, including economic uncertainties following the COVID-19 pandemic.
On the 19th (local time), the American news magazine Time reported that so-called 'stealth luxury'?luxury goods without logos and with understated designs?has been gaining popularity recently.
The media cited Hollywood actress Gwyneth Paltrow's court appearance fashion as an example of 'stealth luxury.' Paltrow, who was sued in a civil case after colliding with a man while skiing, recently appeared at the Park City District Court in Utah, USA, wearing plain-colored clothes without logos. However, those familiar with luxury brands reportedly easily recognized that the clothes Paltrow wore were very expensive luxury items.
Jody Kahn, Vice President in charge of luxury goods at the American high-end department store Neiman Marcus, said, "This season, brands like Loewe, Saint Laurent, and Miu Miu, which previously pursued eye-catching designs, have leaned on a classic sensibility, solidifying the atmosphere of stealth luxury."
The background behind the trend of stealth luxury is analyzed to be related to the social atmosphere, including economic uncertainties after the COVID-19 pandemic.
Luxury consultant Robert Burke diagnosed that while young buyers initially chased luxury goods with large logos, during the pandemic period, due to economic stimulus measures and abundant liquidity, they have now grown fatigued with that trend. Burke said, "Currently, there is some fatigue along with economic uncertainty," adding, "People do not feel the need to show off that they have money."
Analysts also explain that people tend to want to flaunt their wealth during economically good times, not during periods of financial uncertainty about the future.
According to Martin Pedraza, CEO of the designer brand consulting company Luxury Institute, there have been times in the past when stealth luxury was popular. In the 1990s, designers Donna Karan and Miuccia Prada popularized practical clothing, and stealth luxury fashion was also in vogue during the 2008?2009 global financial crisis.
However, even if stealth fashion becomes popular, there is a forecast that fashion with large logos and flashy patterns will still survive. CEO Pedraza said, "There will always be people who want logos, and even Chanel will not give up its logo," but added, "There will always be brands that follow trends."
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