NEWSWEEK International Cover: 'Stealth Wealth'

The Wealthy Among The Wealthy Are Distinguishing Themselves By Not Standing


Jun 24, 2007, 01:00 ET from Newsweek

    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: )
     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

SOURCE Newsweek