Finally, the “Quiet luxury” or stealth luxury dubbed “old money core 老钱风” in Chinese is playing huge globally, following the popularity led by HBO’s hit - “Succession” .
As quoted from articles online, "Quiet Luxury" is the indicator of the sluggish economy with high inflation that the rich or the ultra-rich intentionally hide themselves in the mass by stealing their trend quietly in basic and minimalist style, because they don’t want to flaunt their wealth ostentatiously to arise the hatred or animosity from the mass.
This trend will undoubtably influence the Chinese’s perception and definition on “being luxury” . For past more than 50 years, Chinese has witnessed the premium and luxury consumption revival as the economy took off. The neo rich Chinese consumers have been pursuing overstatement and new social identity claim through big logo or monogram in the past to recent embracing understatement luxury低调奢华 with no logo or minimalist style. At present, more and more Chinese starting from elite class are back to the basic, timeless and simplicity as the world is in a new circle of fashion trend for “quiet luxury”.
From my observation and forecast, Chinese’s receptive attitude towards “quiet luxury” will have a longer impact and influence on the Chinese luxury consumption for quite some time; because this trend echoes the deep-rooted Chinese culture as “淡泊名利 Indifferent to fame and wealth” for elite class in Chinese history.
When we look closely at the well-known Chinese mountain and river paintings山水画 by famous Chinese artists. We can sense a strong resonance that the minimal color used as well as the subjects emanating from nature are the epitome of a high spiritual pursuit regardless of money or status in the reality. This is higher pursuit for freedom spiritually, culturally and financially. And this aesthetics in such artistic expression is largely and secretly kept in China’s culture code as elite class in China society has been differentiating themselves from the mass. More importantly, nowadays, affluent or HNWI Chinese do not satisfy pleasure and leisure brought by their wealth. They are more seeking for a higher and spiritual fulfillment echoing with Chinese culture code “淡泊名利being indifferent from fame and wealth”. This unmet needs used be neglected but will spur brands from luxury and premium to find inspiration in Chinese culture, Nordic or Japanese culture, or trends like “quiet luxury”.
“Quiet luxury” might awaken Chinese to look inward towards their own culture and heritage to create their unique culture codes. As long as this trends goes longer, more and more luxury and premium Chinese brands, like ICICLE or To Summer, focusing on the oriental aesthetics and taste will take the opportunity to offer more timeless piece to the audience in China and overseas.
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