China's richest people are leaning hard into quiet luxury, wielding stealth wealth like a weapon and scorning their flashy, label-chasing peers

• Loud luxury has gone out of style in China.
• "Laoqianfeng," as it's known in the country, is not unlike the old-money aesthetic in the West.
• And rich Chinese people are leaning in, ditching "logo hunting" in favor of elegance, experts say.

First, people respect the silken clothes. Then, they respect the man.

For generations, that's been the popular saying in China — 先敬罗衣后敬人. It translates to a simple lesson for everyone who wants to be wealthy, or at least look the part.