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[00:00.39] With an ongoing war in Europe, high energy prices and food shortages, some wealthy people find themselves wanting to spend their money in ways that do not draw attention.

[00:15.27] Even in the current economic climate, many people who have a lot of money are still buying costly items such as fine wool clothing and leather bags.

[00:28.55] However, they are purchasing items without the large company logos and lettering that were once so popular.

[00:39.44] Some observers are calling it “stealth wealth.”

[00:43.96] Stealth is another word for secret or quiet.

[00:48.21] Expert observers who follow the buying trends of wealthy people say they have recently noticed the change.

[00:56.97] They point to the clothing worn by actor and businesswoman Gwyneth Paltrow during her recent televised legal case.

[01:06.53] Paltrow wore clothing from costly makers such as Prada and Celine.

[01:13.18] However, nothing she wore was flashy.

[01:17.43] Things that are flashy are especially bright or noticeable.

[01:23.00] Observers also see the clothes worn by the actors on the popular HBO television show Succession.

[01:31.51] The show follows the wealthy family of a television company owner.

[01:37.08] The actors wear clothes and carry items that look good but do not clearly show the names of the companies that make them.

[01:46.64] On the television show, which is in its final season, viewers have watched for clues about the characters’ clothing since 2018.

[01:58.60] Michelle Matland is the costume designer for the show.

[02:02.85] She said the wealthy Roy family on the show does not wear clothing with “bling quality.”

[02:10.82] Matland used the real-life Kardashian family as an example of people who wear bling -- clothing and jewelry that are meant to be noticed.

[02:22.24] The Roy family wears dark clothing and baseball hats without logos or names.

[02:28.88] At one point in the story, an outsider gives Logan Roy, the head of the Roy family, a costly but flashy Patek Philippe watch.

[02:41.89] Logan does not say “thank you” and later gives it away.

[02:46.94] Watches of that kind can cost $300,000.

[02:51.99] But the Roy family does not wear items that “look” costly.

[02:57.03] Jodi Kahn is vice president of luxury fashion at Neiman Marcus, an American store that is known for selling costly items.

[03:07.13] She said she and others in her line of work have found that brands such as Loewe, Saint Laurent and Miu Miu have “leaned into the more classic sensibility.”

[03:22.27] Martin Pedraza is the head of The Luxury Institute, a consulting business.

[03:30.25] He said the idea of “stealth wealth” comes up every time people get worried about the economy.

[03:36.88] Those who have a lot of money want to dress like average people but they can still afford costly items.

[03:46.71] So companies that make high-priced clothing sell items that do not look extreme.

[03:54.68] As a result, the wealthy person does not clearly look wealthy.

[04:01.31] Pedraza said that happened in the 1990s as well as during the economic recession that started in 2008.

[04:11.41] Even with the current trend of people buying items that are not flashy, Pedraza said some brands will never change.

[04:20.97] They will always want their name in big letters and use bright colors.

[04:26.02] “There will always be people who want the logos” Pedraza said. “Chanel could (never) give up its logo.”