by
Photo: Brunello Cucinelli
If understatement were the essence of good breeding, then Asia has had practice for thousands of years. Humility is the height of virtue in many parts of the East, so the recent song and dance about stealth wealth in America, often breathlessly recounted in the same sentence as Succession and Gwyneth Paltrow, seems somewhat unfresh: We already know from the nouveau riche that head-to-toe Gucci can be tacky as hell.
Indeed, much of what has already been argued in the media about the new trend of stealth wealth is that it is neither new nor a trend. Nevertheless, along with its cousin, quiet luxury, it has captured mainstream imagination.
Why the rest of us are jostling to imitate the brand-immune shopping habits of old money — evidenced by the number of listicles of appropriately refined brands to patronise: Loro Piana, Brunello Cucinelli, The Row et al — has been explained by theories ranging from logo fatigue to simple imitation-is-flattery. But whatever powers this bubble, not one brand is about to pop.
Brunello Cucinelli’s cashmere handling on display in the brand’s Fall/Winter 2023 collection. (Photos: Brunello Cucinelli/Brunello Cucinelli)
If anything, it’s an opportunity for legions of self-billed luxury purveyors, who have yet to achieve global dominion, to leverage their boutique nature as a selling point. “In a world of mass production and rapid trend cycles, nothing is more luxurious than a high quality, long-lasting product made just for you. It does not get more stealth wealth than that,” reads the site of a bespoke luggage maker.
Elsewhere online, a ‘fragrance apothecary’ touts its perfumes as “absolute proof” of quiet luxury, a jewellery maker pushes a diamond tennis bracelet as one of several summer picks that “embody quiet luxury to a T”, and a men’s couturier promises to make clients “stealth-wealth ready in no time”.
Even Shein, the rising ringleader of fast fashion, has debuted a quiet luxury section on its site without an ounce of irony.
Sell, but make it tasteful
The lobby of the Aman Tokyo, situated on the 33rd floor of Otemachi Tower, is accessed through a discreet entrance on street level. (Photo: Aman Resorts)
It’s no surprise that brands are eager to court sophisticated buyers — and, by way of a package deal, their aspirants. The catch is that this cultured lot doesn’t want to be sold to — therein lies the difficulty.
“Since stealth wealth consumers want to indulge without showing off their wealth in an explicit way, traditional techniques that aim at being visible everywhere are not effective,” says Florent Girardin, an assistant professor at EHL Hospitality Business School who specialises in luxury branding research. “Once a brand becomes too mainstream, it won’t be appealing anymore.”
What this means is that advertising can be an exercise alien even to big names, accustomed as they are to runway shows, TikTok, and the now-regulated K-pop ambassador.
A large following on social media, for one, is an immediate failure. “A huge reach gives the impression that a brand is for the masses — for someone who is not sophisticated enough to have a real reason why they are buying, just following the crowd,” says Irene Ho, chief executive of the Asia arm of global luxury marketing network The Luxury Network. “Balance should be achieved by making the brand seem exclusive without jeopardising sales.”
Luxury brands have debuted logoless bags and accessories in past collections, including Louis Vuitton’s Spring/Summer 2012 set and Balenciaga’s Spring/Summer 2019. (Photos: Louis Vuitton, Balenciaga)
What to do, then? Dr Girardin advocates ditching monograms entirely, a la Bottega Veneta. But if this simple change incites wailing and gnashing of teeth, compromise with a logoless collection (see: Louis Vuitton Spring/Summer 2012), downsize the thing (Balenciaga Spring/Summer 2019 bags, Fendi Spring/Summer 2021 accessories), or hide it on the inside of a garment or bag, as Hermes does on the Kelly, Birkin, and more.
Establishment entrances, too, should be suitably restrained — the professor cites spots like Le Labo and the Aman, both in Tokyo, as worthy examples.
Another favoured tactic is word of mouth: A quiet luxury brand might engage an influential stealth-er as ambassador to generate chatter in exclusive circles. For its China campaign, for instance, Brunello Cucinelli courted heiress Wendy Yu — points out Lisa Nan in the essay How Timeless Quiet Luxury Is Conquering China — over the nation’s legions of celebrities and online influencers.
“Word-of-mouth among influential people is the best communication vector for these brands,” confirms Dr Girardin. “They need to develop long-term and trusted relationships with the right key opinion leaders while staying very discreet.”
Softly, softly
Quiet luxury brands drive sales primarily through quality products, relying little, if at all, on branding and hype. (Photo: Brunello Cucinelli FW/23)
Underlying it all, naturally, is the assumption that a brand’s products are good enough to please the discerning consumer in the first place. This inherent quality is what draws regulars, whose deep familiarity with the luxury world makes it impossible to distract from failure to deliver with hype and flashy design.
“Stealth wealth brands tend to focus on selling less but selling better,” says Angelito Perez Tan, Jr., founder of RTG Group Asia, parent company to luxury brand consultancy RTG Consulting Group. “Because stealth wealth is built on the idea of subtlety, the emphasis is on high-value materials, good cut and tailoring, and an overall unassuming aesthetic.”
Chinese consumers, who make up the world’s second-largest luxury market, have taken surprisingly well to this concept. “They are starting to gravitate towards the discreet and restrained,” says Tan. “This is likely fueled by factors such as the nation’s ‘common prosperity’ drive, which discourages overt shows of wealth.”
Once the quiet luxury customer is onboard, fluffy newsletters and formulaic correspondence will hardly cut it to keep them warm. Iris Chan, partner and head of international client development at Swiss-headquartered marketing agency DLG (Digital Luxury Group), espouses individual messaging, dedicated spaces, and precise recommendations, taking into account subtleties in customer preferences.
Dedicating spaces for top clients to experience the brand is one way to appeal to the quiet luxury customer. (Photo: Aman Resorts/Nacasa & Partners)
Borrowing tactics from the watch and jewellery sector, fashion brands are also inviting top customers to their ateliers to “discover the craftsmanship firsthand”, sending them on far-flung retreats, or organising “experiential moments… to experience the details in person”.
Given the ‘quiet’ traits they prefer, not every brand can easily appeal to a stealth wealth audience, Chan says. “Those that do should apply patience to the process.”
That genteel customers are hard to seduce is not groundbreaking. But though stealth wealth isn’t mainstream, stealth marketing can be — like Paltrow’s clean, beige outfit in a dreary courtroom or the cuttingly sharp lines of Kendall Roy’s USD$12,000 (S$15,971) Brioni suit.
Making selling as understated as the services it hawks can cut through the cacophony of advertising that’s everywhere right now. If the products embody quality over quantity, don’t yell, and are the result of careful execution, then their promotion should be equally classy. That’s something not just luxury brands can learn.
