The whisper of wealth: How silent luxury is quietly reshaping Asia’s elite

Muccia Prada once said: “I am naturally attracted by opposites: I love luxury and yet I hate luxury. I struggle between democracy and exclusivity. I hate the idea of everybody wearing Prada.” 

If you thought the words of Miuccia Prada whimsical, it would then be tempting to view the silent luxury movement as one end of this cyclical whim. However, this swing may have acquired a semi-permanence than what the luxury sector is used to, which bodes well for some and less so for others.

In an age of 15-second virality and logo-splashed selfies, the affluent people in Asia are rewriting the luxury playbook. They are booking private omakase dinners in Kyoto that ban photography, detoxing in barefoot resorts in Bali with no social media signal, and acquiring tailored itineraries through Bhutan that begin ­­­— not end — with a handwritten invitation.

Welcome to silent luxury —  the new language of wealth that whispers where it once roared. And in 2025, nowhere is this shift more evident than in Asia Pacific.

THE DATA DOESN’T SHOUT EITHER — BUT IT’S CLEAR

There is a nuanced difference between silent and quiet luxury. Quiet luxury is a retreat from the democratisation of luxury offerings, where status is expressed through craftsmanship and material quality rather than logos. Silent luxury’s value is derived from longevity and authenticity, rather than novelty. It not only favours superior materials, exceptional craftsmanship, and cultural depth, products and designs tend to be timeless.

Spending in personal luxury goods segment slipped last year to €364 billion (US$426.05 billion; S$546.87 billion), from a post-pandemic rebound of €369 billion in 2023 (Bain & Co.). This will continue to slide between 1 per cent and 3 per cent at current exchange rates in 2025. 

While global luxury goods spending is beginning to swing the other way from a rising pendulum, the experiential side of the market is outpacing the handbags and timepieces. For instance, luxury experiences maintained faster-than-average growth as consumers continued to move their spending to travel and social events. The market for experience-based goods (such as fine art and luxury cars) saw a dual trend, contracting in the most accessible segments and while growing among high-net-worth individuals in more absolute expressions of luxury. (Bain & Co.). Asia Pacific is driving roughly 35 per cent of that growth, thanks to an emerging generation of affluent millennials and Gen Z consumers from China, Korea, Japan, and Singapore.

Meanwhile, the Global Wellness Institute projects that wellness tourism alone will hit US$1.4 trillion globally by 2027, with Asia as its fastest-growing contributor. Notably, Thailand, Indonesia, and Japan are experiencing a boom in destination spas, silent retreats, and bespoke healing experiences.

According to Euromonitor, experiential dining is growing at nearly 9 per cent Compound Annual Growth Rate (CAGR) in Asia, compared to 4 per cent globally. Luxury dining, too, is trending inward. Michelin-starred experiences in the region are increasingly adopting no-logo menus, curated seating, and private chef events — some costing upwards of US$3,000 per guest.

McKinsey & Co's 2024 study on new luxury consumers in China and South Korea reveals that millennials and Gen Z now represent nearly 50 per cent of luxury spending. But unlike previous generations, they are eschewing logo-forward fashion in favour of what one Shanghai-based creative director calls “invisible prestige”, a clear nod to the paradox of Mrs Prada’s musings.

The silent luxury trend, then, is not a pushback against the loud, logo-bearing/wearing masses, but more of a hyper leap of the truly wealthy from the maddening crowd. In other words, it separates high net worth individuals from the parvenus.

The emergence of a dupe culture is a reaction to this divide. In addition to the #dupe hashtag on TikTok racking up more than 6 billion views globally, McKinsey & Co’s The State of Fashion 2025 report also finds that nearly one-third of US adults say they intentionally bought a dupe of a premium or luxury product; and 17 per cent of UK shoppers consider dupes as great alternatives even if they could afford the original. For those whose luxe aspirations are increasingly slipping away in today’s uncertain economic climate, this is schadenfreude.

Professor Lisa Wan, from The Chinese University of Hong Kong’s School of Hotel and Tourism Management, said silent luxury signifies a refined shift away from traditional conspicuous consumption. “Academically, silent luxury is defined as a mode of consumption where status is expressed through craftsmanship and material quality, rather than logos.”

Consumers are investing in hero products and essentials, favouring brands that excel in specific categories. ​There is a revival of style over fashion, with less emphasis on novelty and more on enduring value. A consistent, enduring narrative that focuses on style, not fashion.

Cheryl Williams, chief revenue officer of Preferred Hotels & Resorts, concurred. “Silent luxury is not about being anti-status, but about being anti-noise. It means shifting away from trend-driven consumption to legacy, craftmanship, and quiet authority,” she explained.

This isn’t news for some Asians. In Japan and South Korea, luxury has always been subtler, more about craft than clout. But now, this aesthetic is global — spilling into fashion, travel, even tech. The Row, Hermes, Miu Miu, Loro Piana, Jil Sander, and Bottega Veneta (which famously erased its Instagram in 2021) are leading the way in Asia, prioritising materials, tailoring, and whisper-thin branding over flash.

Dr Florent Girardin, associate professor of marketing at EHL Hospitality Business School, explained the psyche. “As traditional luxury brands have spread to the middle class, their logos and visible signs have become signals of the “wannabe rich”. High net worth individuals are therefore looking at other brands, less known, without ostentatious symbols to send subtle signals and differentiate from conspicuous luxury consumers.”

When people become more mature luxury consumers, their need to vertically signal status to lower classes decreases, and they look for more sophisticated symbols to signal their status horizontally to their peers, who can recognise those signs only if they are educated enough about luxury consumption.

“Luxury is associated with extraordinariness. Accordingly, luxury consumers are looking for products and experiences that allow them to break the monotony of everyday life. These “moments of luxury” can be very simple if they are rare in one’s life and possess the characteristics of extraordinariness. There is an increasing need for consumers to live authentic, meaningful experiences,” Dr Girardin added.

SILENT LUXURY SPENDS

The cultural shift goes deeper than taste. It is about values. After the pandemic, many affluent consumers reevaluated what luxury meant — preferring experiences that restored, challenged, or transported them.

Preferred Hotels & Resorts’ Japanese luxury properties all exemplify the spirit of omotenashi, a Japanese concept of hospitality that emphasises selfless service and anticipating a guest’s needs without expecting anything in return. “Singapore’s multicultural society would have a slightly different approach to silent luxury — many prioritise substance over show, but legacy and prestige still hold value,” Williams said.

This emotional ROI is being reflected in market behaviour. For instance, membership-only private- and wellness clubs are growing in Singapore and Hong Kong. Ultra-personalised travel services — such as those offered by Black Tomato or Remote Lands — are seeing triple-digit growth in the region. Aman and Six Senses are expanding quietly into Vietnam and Australia. LVMH’s Cheval Blanc and Belmond properties have reported record occupancy from APAC-based clients, even during shoulder seasons.

Maureen Yeo, regional director of Asia, Andermatt Swiss Alps, shared that Andermatt itself is an understated luxury destination, lying halfway between Milan ad Zurich. “By default, we attract clients and tourists who enjoy the peace and tranquility…recently, we had a client from Hong Kong who found us through ChatGPT. She was looking for a quiet destination and found us. After enjoying a positive experience, she decided to buy a property with us,” she said.

“At a time when Hong Kong’s affluent buyers are delaying or downsizing purchases amid geopolitical tensions and tighter lending, and China’s property sector has contracted from roughly a quarter of GDP pre-2020 to around 15 per cent today, silent luxury buyers remain undeterred by premium pricing,” she continued. “They see higher costs as an investment in legal clarity, Swiss-made durability and the peace of mind of owning one of Switzerland’s most coveted addresses.” This means ultra-exclusivity — of the Andermatt 500 residences built to date, only 8 per cent are owned by Asians.

Hospitality and travel also raise the bar for personalisation. Baidi Li, VP Commercial of Traveloka, revealed that most APAC travellers prioritised rest and recharge (26 per cent) when they travel, compared to other motivations such as shopping (5 per cent) or trying new cuisine (9 per cent). “Across markets in APAC, there is a growing demand for seclusion, space, and deeper engagement with local environments,” Li said. “In Japan, for example, we found that 40 per cent of travellers prioritise spa retreats and culturally focused trips, indicating a clear appetite for experiences centred on restoration, mindfulness, and personal wellbeing.”

Cruise tourism is growing fast in Southeast Asia, Li added. “These travellers aren’t chasing labels or Instagrammable moments; they’re investing in exclusive, immersive experiences that signal taste, not status. For many middle- to upper-income families in Southeast Asia, cruises offer a safe, all-inclusive experience that combines entertainment, dining, and exotic destinations, without the hassle of planning every detail.”

The evidence is solid — the market for luxury cruises reached €5 billion, growing by 30 per cent versus 2023 at current exchange rates amid reaffirmed interest from high-net worth individuals (Bain & Co.). These individuals continued to respond well to the intimate cruising experience in the new ultra-luxury segment, and adventure-focused, environmental conservation itineraries.

Oriol Montal, regional vice president of Luxury, Asia Pacific excluding China, Marriott International, noted a clear shift toward a more grounded, mindful travel. “The appetite for nature-based escapes has grown significantly, from 19 per cent to 28 per cent, and more travellers are choosing to stay in and enjoy quieter, more reflective evenings.”

This informs how we design our spaces and curate our experiences. We focus on environments that encourage rest, privacy, and deeper cultural connection,” he added.

The JW Marriott Jeju Resort & Spa is an example of the approach. Blending seamlessly with the island’s natural surroundings, the resort’s architecture and interior design scheme complements Jeju’s unique volcanic terrain. Guests discover wellness experiences that deeply connects to the island's nature and culture, complemented by serene spaces such as JW Garden, meditation spots, and yoga pavilions.

Agreeing, Alba Bustamante, Melia Hotels International’s director of global brand marketing, Luxury & Lifestyle Brands, said that each Melia property offers a unique set of singular experiences. “For instance, at Casa de las Artes in Madrid, guests can participate in exclusive art restoration workshops at the Thyssen Museum, uncovering hidden stories behind priceless works…(or) exclusive experiences such as dining at La Riva in Hotel de Mar, private access to the Vatican at Villa Agrippina, or the opportunity to attend a private choir performance at Notre Dame through Maison Colbert,” she let on.

RETHINKING OFFERINGS FOR THE SILENT LUXURY BUYERS

Silent luxury companies outperformed its louder peers by 23 percentage points in 2023 (DBS Bank 2024). Brands like Hermes, Moncler, and Miu Miu achieved exceptional growth of 89 per cent combined in constant currency terms, while traditional luxury brands like Kering’s Gucci and Saint Laurent faced downturns. 

However, all is not lost for brands caught in the whirlwind of changing luxury preferences. Sonja Prokopec, professor of marketing and associate dean of faculty, ESSEC Business School, Asia-Pacific, argued that APAC silent luxury adoption is uneven, and often correlates with market maturity and level of consumer sophistication. The longer the markets have had exposure to luxury, the more evolved it is.

Professor Wan concurred. “While the US and Europe are leading the quiet luxury movement, in China, logo-driven luxury remains dominant, with more than 50 per cent of Chinese luxury consumers still associating visible logos with wealth. This geographic divide suggests that the future trajectory of silent luxury may vary significantly across different markets,” she said.

“In emerging luxury markets such as Vietnam, Indonesia, and also parts of mainland China, status, which is derived from visible luxury, is still highly valued,” Prof. Prokopec added.

While there is time for certain brands to reevaluate their luxury offerings, that window of opportunity is shrinking. The old luxury said: Look at me. The new luxury says: You had to be there. The difference? It’s a wide moat and will only widen between the truly wealthy and others.

To secure future growth, brands must rethink their luxury offerings, reestablish creativity and blend old and new playbooks. They need to rediscover their essence and embrace foundational pillars: Desirability fuelled by craftsmanship, creativity, and distinctive brand values. It needs to be meaningful, personalised, and culturally resonant. In Asia Pacific, the future of prestige may not be tagged or tweeted. But it will be deeply — and quietly — felt.