Summary of Key Points
The "old money" and "sophisticated luxury" styles were once highly sought after in the fashion industry, but they have now declined from being at the forefront of popularity. They are criticized for making the industry appear conservative and lacking in creativity, serving more as a cover for these shortcomings. What were once symbols of elevated quality have become marketing gimmicks, with social media templates and brands following suit to reduce risks. Netizens, fashion critics, luxury executives, and even brand founders themselves are opposing this trend. The industry is beginning to realize that rather than chasing trends (such as the "Loud Luxury" movement), it would be better to return to the brands' own creativity and product essence.
How Did the "Old Money" Style Become a "Replicable Formula?"
The "old money" style originally represented the lifestyle of truly wealthy individuals, characterized by a long-term cultural accumulation and a stable social class, reflected in understated yet exquisite materials and cutting. However, after Gwyneth Paltrow's court appearance in 2023 (with a simple outfit without logos and high-quality fabrics) went viral on social media, this style was completely standardized: beige or camel-colored suits, white shirts, cashmere sweaters, outfits without logos... Social media was filled with "old money" dressing guides, as if wearing such clothes would instantly make one appear wealthy. As a result, it has evolved from something culturally sophisticated to a formula that anyone can replicate, losing its original soul.
Why Is the Trend Being Criticized?
1. Netizens See It as a Marketing Trick
Some on Reddit have harshly criticized this trend: "TikTok and Reddit are misleading the middle class—does wearing these clothes really make you rich? It's just a brand packaging gimmick!" They argue that the sophisticated luxury style lacks artistic value and is merely a class symbol disguised as taste, essentially poor people imitating the wealthy.
2. Critics Worried About Loss of Innovation
Fashion critics like Cathy Horyn point out that market pressure forces brands to take safe routes, with fewer daring designs emerging. The sophisticated luxury trend has become an easy choice, stifling creativity.
3. Brand Leaders Disagree
- The CEO of the Capri Group (Versace's parent company) believes that Versace's reliance on this style and the reduction of affordable products have caused issues.
- The LVMH CEO in the U.S. is happy about the decline of this trend, as it has become morally correct, limiting consumer expression (for example, logos and bright colors are now seen as negative).
- Brunello Cucinelli, considered a representative of sophisticated luxury, denies its existence: "Does my suit look understated? People want elegance when they get up in the morning, not humility!" He dislikes the term "trend" and aims to create brands that last longer than temporary fads.
Why Do Brands Follow the Sophisticated Luxury Trend?
The business logic is straightforward: it offers low risk and high return for brands:
- Low Design Risk: Simple designs without complex prints or collaborations are less likely to go wrong.
- Cross-Market Appeal: Basic colors like beige and black are accepted globally.
- Cost Savings: Development budgets can be reduced as there's no need for expensive creative designs.
However, true sophisticated luxury requires top-quality materials and precise cutting (e.g., Jil Sander's minimalist style, where minor flaws in details are amplified without embellishments). Many brands merely use superficial simplicity, using ordinary materials and rough cuts while claiming to be part of the sophisticated luxury category, saying, "I'm not lacking in creativity; I'm being restrained in a sophisticated way."
Where Should the Industry Go After the Trend Declines?
There is now discussion overseas about the "Loud Luxury" trend (with large logos and bright colors), which some believe can stimulate consumption. But this might just be another cycle: from understated to bold, from restraint to extravagance, still chasing trends. The real key is for brands to create their own unique expression rather than following fads. What consumers dislike is not the sophisticated luxury style itself, but the overly replicated templates.
Implications for Chinese Brands
In the next few years, Chinese brands will face this same question: should they follow trends (today's sophisticated luxury, tomorrow's loud fashion) or focus on developing their own unique identity? For example, can they move beyond merely imitating the surface of the "old money" style and create their own craftsmanship and culture (like Brunello Cucinelli promoting Italian craftsmanship and small-town culture)? Trends will pass, but a brand's understanding of its products and culture is what constitutes long-term value.
In Conclusion:
The essence of fashion lies in desire and innovation, not in following templates. Instead of chasing the next trend, it's better to create something that consumers will remember as truly unique and distinctive.