In a call with investors after reporting its results, the company’s executive chairman and creative director Brunello Cucinelli called out the quiet luxury movement as being a key contributor to its recent growth.
“This year, we’re actually harvesting the fruit of taste,” he said. “People’s taste is towards no logo … It’s about quiet luxury. So, of course, for us, this is a big advantage,” he added.
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But fashion experts say this style of dressing has emerged in part in the Western world as a reaction to the current economic climate.
“When huge bits of the population are struggling to hang onto or heat their homes, flaunting extreme expressions of wealth looks tone-deaf,” said Lorna Hall, director of fashion intelligence at trend-forecasting firm WGSN.
“Right now, we are living through times that call for that more pared-back approach,” she added.
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“They [the ultra-rich in China] care more about fine design details and sophistication rather than using luxury as a badge for broadcasting their status widely,” said Amrita Banta, managing director of luxury insights firm Agility Research & Strategy.
“They want to both keep a relatively low profile and not appear too tuhao or nouveau riche. They care more about how they appear to ‘those who know’, but not the public at large,” she added.
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