Sailing into the French Riviera on luxurious weekends. Sipping champagne under the Bahamian stars. Skiing in the majestic Swiss Alps during Christmas holidays. Dwelling in sprawling estates surrounded by picturesque landscapes, complete with stables filled with magnificent thoroughbred horses. And, of course, indulging in a lavish wardrobe adorned with pristine linens, Ralph Lauren polo shirts, and exquisite designer accessories. This, my friends, is the realm of ‘Old Money’ as interpreted by TikTok.
For ages, the allure of ‘Old Money’ and the accompanying lifestyle and prestige have fascinated us. We’ve witnessed its enigmatic portrayal in numerous films and TV shows, devoured novels inspired by its secret lives and unwritten codes, and considered it the epitome of success within the realms of capitalism. Initially, this opulent way of life seemed attainable if one worked hard enough. But now, thanks to social media, the younger generation has caught a glimpse of the idealized old money concept.
According to the Oxford dictionary, ‘Old Money’ refers to “wealth that has been inherited rather than earned.” Consequently, achieving a literal old money lifestyle seems futile, as it requires being born into the right circumstances, with the right family name, and a substantial inheritance. Perhaps this is why the younger generation has embraced the style-centric aspects of old money, transforming it into an aesthetic trend rather than an unattainable aspiration.
Let’s take a moment to reflect on some of the notable fashion trends that have taken TikTok by storm in recent years. From tennis-core to the Equestrienne trend and the coastal grandmother style, they all share a common origin in the old money vibe. Even popular shows like ‘Succession’ and ‘Gossip Girl’ are discussed online in the context of quiet luxury and old money. While many facets of this aspirational lifestyle remain out of reach, we can still dream of frolicking on superyachts along Europe’s southern coastlines. The look, in many ways, has become our way of embracing the unattainable.
SERIES : SUCCESSION (Images belong to copyright owners)
SERIES : GOSSIP GIRL (Images belong to copyright owners)
The essentials of the ‘old money look’ include the aforementioned crisp linens, polo shirts, and designer items embodying “quiet luxury.” Additionally, it encompasses argyle vests, white sneakers, capris, quilted coats, and tailored pieces that exude a timeless elegance.
Images belong to copyright owners.
As Gen Z enters their early twenties, a phase marked by increased buying power and disposable income, they find themselves facing the harsh reality of post-pandemic inflation and rising living costs. In Australia, for instance, even owning a home seems like an unattainable dream for many young individuals. Consequently, purchasing from designer retailers, an integral part of old money aspirations, becomes out of the question amidst the cost-of-living crisis. Instead, young trendsetters have turned to second-hand sellers to curate their desired style. Depop, in particular, has experienced a staggering 70% increase in searches for ‘collared shirts’ and a 76% increase for ‘trench coats’ since the rise of the #oldmoney trend on TikTok.
Images belong to copyright owners.
In essence, this surge in young people’s fascination with exorbitant wealth seems paradoxical yet indicative of the current economic instability. Several economic theories shed light on Gen Z’s transition towards a more modest style, distancing themselves from the glitzy Y2K looks. For instance, economist George Taylor proposed the hemline index in 1926, suggesting that women’s skirts become shorter during times of financial prosperity and longer during recessions.
However, the underlying motivation behind this trend may not solely revolve around money. Agustina Panzoni, Depop’s Brand and Category Manager, suggests that it could be a sign of maturity. The modern interpretation of the old money aesthetic has shed its association with wealth and fame, undergoing a 21st-century reboot that emphasizes quality and craftsmanship while discarding logos and elitism. This revamped trend accommodates a wide range of personalities and aligns with conscious-minded individuals. It effortlessly fits into a circular fashion economy, allowing for the pursuit of practicality and longevity.
Although old money and sustainable fashion may appear disparate, they converge in their shared emphasis on high-quality, neutral-toned pieces that can be worn interchangeably and endure the test of time. The new old money aesthetic isn’t solely about flaunting wealth; it’s about mindful shopping and investing in a timeless wardrobe. It may be considered a ‘trend,’ but its associated style transcends eras, ensuring longevity. By purchasing from second-hand retailers, we embrace classic fashion choices while sidestepping the pitfalls of fast fashion. The allure of timelessness lies in curating a wardrobe that withstands the ever-changing tides of trends, defying age and remaining eternally chic.
So, my fellow fashion enthusiasts, embrace the captivating allure of the old money aesthetic. While the lavish lifestyle may elude us, the look is just a click away, allowing us to channel the elegance and sophistication of a bygone era into our modern lives.
