Stealth Wealth

A couple of years ago I learned of an interesting concept – rich people who did not show off their wealth with the latest, flashy or trendy fashions or things.  You'd think with all that money, they'd want to broadcast to the world how much they spend.  As it turns out, they're much less obvious about their fortunes – in fact, they're into stealth wealth.

What is stealth wealth?  According to Forbes.com, stealth wealth "is about accoutrements that are subtle, not necessarily readable by the general public, but by those in the know."

Hidden Luxury

So, instead of buying a recognizable label and wearing it so everyone can see, they choose to still wear expensive labels and buy fine things, except you cannot tell immediately that the items are designer – in fact, there is very little labelling on them, at all.  The only people who would know would be your rich friends.

Here are a few examples of 'stealth wealth' items:

• Vertu Phones – these are insanely expensive and have their own concierge service.
• Hermes – their styles are very conservative and the labelling subtle.
• Tumi luggage – this luggage can be hundreds of dollars for one piece, but again, the labelling is small.

These stealth items are just as expensive, if not much more than their designer counterparts.

A Booming Economy

During the booming economy the last few years, I have noticed an increase in recognizable 'luxury' labels I see on the street – Gucci, Prada, Coach, Armani.  Surprisingly, the people that are wearing these items are not exactly rich themselves.  As a matter of fact, I have friends who've bought some of these designers and proudly wear them to prove how much they spent.

I guess with the economy doing so well, everyone has been feeling much richer than they probably are, and they want to show it off.

What do the rich have to say about that?

Well, it looks like they're not too happy about it. What's the point of wearing an exclusive label if everyone else is wearing it?

With stealthy brands, they can satisfy themselves and impress their friends and still remain exclusive as 'normal' people probably haven't heard of them before.  Plus, they're much more expensive which ensures their continued exclusivity.

Are stealth wealth brands less snobby then normal designer brands?

I actually think they're much more snobby, in a way. They stem from a desire to be further removed from us normal folks and to be more accepted by their 'high society' circle of friends.

But I have to admit, I do like the conservative nature of them – I'm not terrible crazy about the 'loud' designer labels and even if I had the money, I probably wouldn't buy them.

And with the economy being in recession, we might see an increase in crime, so it might actually be prudent to be less flashy in this new age of frugality.

Which do you prefer – the well-known designer labels or more conservative ones?

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