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Old Money in Latin American Fashion
- Olafashionista
- Aug 1
- 5 min read
Updated: Sep 1
The terms "new money" and "old money" have a significant cultural and social impact in many societies, including in the Latin American fashion community. These terms typically describe the source of wealth and how wealth is displayed or perceived within the broader society. Let’s break down these concepts in relation to Latin American fashion.
1. Old Money in Latin American Fashion
In Latin America, old money refers to individuals or families that have inherited their wealth over generations. These families have long-established social status and usually trace their fortunes back to industries like agriculture, mining, or colonial-era wealth. Old money is often associated with traditional values, exclusive fashion choices, and a preference for subtlety rather than overt displays of wealth.
Characteristics of Old Money in Latin American Fashion:
Timeless Elegance: Old money individuals prefer classic, high-quality clothing that doesn’t necessarily follow fleeting trends. They favor luxury brands with a reputation for heritage, craftsmanship, and exclusivity.
Think of brands like Loro Piana, Hermès, or Gucci—items that are both understated and elegant.
Understatement: Old money fashion is often about restraint. Wealth is not flaunted but rather conveyed through the quality of materials and the refinement of designs. Old money families tend to avoid flashy logos or ostentatious displays of wealth.
Cultural Preservation: For old money families in Latin America, cultural heritage and the preservation of traditional crafts are very important. Handcrafted textiles, such as Mexican rebozos or Andean textiles, can often be seen in the wardrobes of old money individuals as a nod to their family’s cultural roots.
Private Events: Old money tends to frequent exclusive and private events, where the dress code is more about discretion than trendsetting. Think of gatherings like private galas, charity events, or members-only club gatherings.
Example in Latin America:
In places like Mexico and Brazil, families who have inherited wealth over the centuries, such as those with ties to old colonial estates or tobacco industries, have long favored luxury without publicizing it. They may shop from high-end Latin American fashion designers, but always select pieces that highlight their taste and not their wealth.
2. New Money in Latin American Fashion
On the other hand, new money refers to individuals or families who have recently come into wealth. This could be through entrepreneurship, tech startups, or industries like entertainment or sports. New money often leads to an overt display of wealth through fashion, creating a contrast with the subtlety of old money.
Characteristics of New Money in Latin American Fashion:
Statement Pieces: New money individuals tend to embrace bold fashion choices. They might wear high-end logos, flashy jewelry, and designer accessories as a way to signal their success.
Trendy and Experimental: New money tends to gravitate toward more modern and cutting-edge fashion trends. They may be more willing to experiment with bright colors, prints, and avant-garde designs that convey their status and style.
Instagram-Friendly: Social media platforms like Instagram play a significant role in how new money individuals in Latin America express their style. It’s not just about the clothes themselves, but also about showcasing a lifestyle—whether it’s attending exclusive events, traveling to luxury destinations, or wearing the latest high-fashion releases.
Fast Fashion Influence: New money individuals are often influenced by the desire to display their wealth quickly, leading them to buy limited-edition pieces or embrace fast fashion trends.
Example in Latin America:
In countries like Brazil or Colombia, many influencers and celebrities who gained wealth through the entertainment or sports industry often wear high-end fashion labels (such as Balmain, Versace, or Louis Vuitton) with the clear intent to showcase their newfound success. They often flaunt these brands on red carpets or in social media posts, aiming to establish their new status.
3. The Intersection of Old and New Money in Latin American Fashion
In the Latin American context, there is a fascinating intersection between old and new money in the fashion industry. The region is a blend of tradition and modernity, where individuals may wear traditional garments alongside high-fashion pieces. The fusion of these two styles has become a trend, especially as new money embraces a mix of both cultural pride and global luxury.
Emerging Trends in Latin American Fashion:
Revitalizing Heritage: Some new money individuals are turning to traditional Latin American fashion as a means to connect with their roots while also signaling their success in a global context. For instance, Indigenous textiles or handwoven fabrics from places like Oaxaca or the Andes are being elevated by young, wealthy fashionistas into contemporary fashion pieces, thus blending heritage with modernity.
Luxury Streetwear: In cities like Mexico City, Sao Paulo, or Buenos Aires, a growing number of new money individuals are incorporating streetwear into their wardrobes, often opting for luxury brands like Balenciaga, Off-White, or Supreme. The fusion of luxury fashion with street culture creates a unique style that signals both status and authenticity.
Fashion Collaborations: There’s also an increasing trend of collaborations between Latin American designers and global fashion houses. Designers like Carolina Herrera, Álvaro Cadavid, and Giannina Azar often walk the fine line between old-money elegance and new-money boldness, appealing to both generations by combining classic designs with innovative patterns and modern silhouettes.
4. How the Fashion Industry Responds to Old and New Money
The Latin American fashion scene is very dynamic, with designers and brands catering to both old money sensibilities and new money aspirations. Here’s how the industry responds:
Tailored Collections: Some brands focus on creating exclusive collections for the old money clientele, emphasizing timeless designs and luxurious fabrics. For example, brands like Tane (a high-end jewelry brand) and Luis Vuitton tailor their collections for wealthy Latin Americans who prefer understated luxury.
Social Media and Luxury Events: On the other hand, new money’s demand for visibility and brand recognition has led to an explosion of digital influencers, fashion shows, and collaborations. Brands like Fendi and Gucci have tailored campaigns for the Latin American market, featuring influencers and celebrities who appeal to new money’s desire for status and flashy displays of wealth.
Conclusion: Understanding "New Money" and "Old Money" in Latin American Fashion
In the Latin American fashion community, the distinction between new money and old money reflects not just economic class, but also cultural values, fashion choices, and the way wealth is displayed. While old money emphasizes timelessness and cultural respect, new money tends to embrace boldness, individuality, and instant gratification.
Both groups are redefining luxury and pushing the boundaries of what it means to be fashionable in the region, often blending the best of both worlds—heritage and innovation. As fashion evolves, these two segments will continue to shape the future of Latin American style, merging tradition with modern trends and luxury with local identity.
Old money or new money just be you, love your self and be fashionable
