'Quiet luxury' is back for the first time since the Great Recession. Here's what it is and what brands stand to benefit.

• The quiet luxury trend is dominating 2023 after years of trends like "dopamine dressing." 
• It's partly because the economy remains precarious and people don't want to flaunt their wealth. 
• High-end brands like Loro Piana are set to benefit, as are mass-market retailers like Everlane. 

Quiet luxury is one of 2023's biggest trends, and also one of the hardest to describe. 

It's one of those "you'll know it when you see it" trends. Quiet luxury is soft and tactile, it's beige and gray, and as Vogue put it, "it's less austere than minimalism but more polished than 'normcore.'"