NEWSWEEK International Cover: 'Stealth Wealth'
The Wealthy Among The Wealthy Are Distinguishing Themselves By Not Standing
NEW YORK, June 24 /PRNewswire/ -- Newsweek International's double issue looks at how luxury for the more than 8.7 million millionaires around the globe is going discreet-understated, nameless, even faceless. From the revolving door of designers at top labels to hotels and clubs with no name or address, today's truly luxurious life is not showy but so understated as to be practically invisible. (Photo: http://www.newscom.com/cgi-bin/prnh/20070624/CLSU007 ) A team of Newsweek correspondents provides a glimpse of this ultra exclusive lifestyle. In the July 2-July 9 double issue (on newsstands Monday, June 25), Senior Editor Cathleen McGuigan reports that top architects are focusing on the most timeless and essential elements of their craft-light, scale, proportion-creating serene spaces that can be glamorous or modest, anonymous or rooted precisely to a geographical spot, designs that don't shout, they whisper. It is the understated elegance of such projects that's attracting a serious clientele, patrons who wouldn't be caught dead with a logo on their shirts or call undue attention to their houses, offices or art galleries. But building facades are just the beginning. Assistant Editor Jennie Yabroff reports that even bars in cities such as New York that cater to this clientele are so low profile they're practically invisible. There is a growing trend of bars and secret nightspots that await behind unmarked doors. Once inside, however, patrons are greeted with swank furnishings, lovingly crafted cocktails and the discreet thrill of having made it to the inner sanctum were persistence or connections are required. Of course, once inside these exclusive structures, the truly rich are very likely wearing brands that may be unknown. Rome Special Correspondent Barbie Nadeau reports that luxury doesn't need a logo to prove its high-class credentials. The status lies in the way its goods are made. Such is the case of Bottega Veneta, the 41-year old brand-which prides itself on sporting no labels at all-recently named the world's most luxurious brand by New York-based Luxury Institute. In keeping with the movement, the way the ultra rich shop has also changed. Paris Correspondent Dana Thomas reports that high-end couture's elite clientele are no longer heading to the ateliers of top designers for fittings. Dressmakers from couture houses now travel to their clients' homes. And while traditional fashion capitals such as Paris, New York and Milan retain their importance, a new group of second-tier shopping cities are making a name for themselves. Special Correspondent Ginanne Brownell reports that cities such as Antwerp, Chicago, Istanbul and Shanghai are now challenging the supremacy of the fashion industry's major cities. (Read International Cover Package at www.Newsweek.com) http://www.msnbc.msn.com/id/19379104/site/newsweek/