Drivers of stealth luxury: Fashion capital on inconspicuous luxury consumption

The rise of stealth luxury consumption has reshaped consumer behavior in the luxury fashion market. This study introduces fashion capital as a novel predictor of stealth luxury consumption, distinguishing it from traditional economic and cultural capital influences. Drawing on Bourdieu's capital theory, we propose that fashion capital plays a crucial role in shaping consumers' preference for inconspicuous luxury. Following Churchill's scale development paradigm, we conducted interviews with eight fashion experts and two surveys of 300 luxury consumers each (totaling 600 respondents). Findings reveal that fashion capital significantly influences stealth luxury consumption, fully mediating the effects of economic and cultural capital. This study contributes to the literature by refining the concept of fashion capital, introducing a robust measurement scale, and demonstrating its theoretical and methodological relevance. Managerially, this study offers insights for luxury brands aiming to adapt their consumer segmentation strategies and marketing communications to align with evolving, taste-driven preferences associated with higher levels of fashion capital.