Controversial TikTok trend could reverse decline in luxury spending

TikTok is once again flexing its muscle as it is displaying its ability to set trends and influence consumer behavior.

A new fashion trend that is flooding the platform is kicking the previous undercover wealth look out the window. The expensive and flashy “mob wife” aesthetic is in, which even though has recently sparked controversy online, it could be a trend that can revive the struggling luxury fashion industry.

The mob wife aesthetic is a trend that features women dressing in furs, leather, bold jewelry and accessories, designer handbags and full glam makeup which users on TikTok attribute to the look of a woman married to a mobster. The trend has grown in popularity over the past month and has been dubbed as the replacement of the “quiet luxury” and “old money” look which featured timeless pieces, neutral colors and an avoidance of wearing logos.

Related: Decline in luxury spending has hit a major brand where it hurts

The controversy surrounding the mob wife aesthetic

As the mob wife trend skyrockets in popularity, it has managed to pick up some controversy on the way. The trend, which features looks inspired by film and TV shows such as “The Godfather" and “The Sopranos,” has been criticized for cultural appropriation of the Italian community and actual former mob wives.

@anonymousally198

Mob wife makeup vs clean girl makeup. Mob wife makeup is not makeup, its a lifestyle and if you’re not ITALIAN, you just look silly. #mobwifeaesthetic #mobwife #cleangirlaesthetic #makeuplooktrends ♬ original sound - Ally K

It has also received criticism for being an alleged marketing ploy by HBO to promote the 25th anniversary of “The Sopranos,” which is about an Italian American mobster, on its streaming service Max. Warner Bros. Discovery, which owns Max, has recently shut down that speculation despite HBO implementing it into its promotion of the show on social media platform X, formerly Twitter.

How the trend can save the struggling luxury fashion industry

Despite the controversy, HBO might not be the only entity that benefits from the blossoming mob wife aesthetic. The luxury fashion industry has taken a hit financially in recent years following a decline in luxury spending across the nation amid a tight economy, hurting the pockets of popular fashion brands.

Last month, luxury fashion brand Burberry warned its investors that its profits will take a major hit due to a decline in consumer spending on luxury goods during the 2023 Christmas season.

“The slowdown in luxury demand is having an impact on current trading,” said Burberry in a trading update. “In this context, we now expect adjusted operating profit for the financial year ended 30 March 2024 to be in the range of £410m to £460m, below previous guidance.”

Luxury goods company Kering, which owns YSL, Gucci, Balenciaga, Bottega Veneta and other brands, also took a financial hit as it reported a 13% drop in revenue in its third-quarter earnings for 2023.

Also, according to recent U.S. credit card data from Barclays and Citi, luxury goods spending in November 2023 decreased by 15% compared to the same time period the year before. The data also revealed that luxury fashion purchases that same month decreased by 9.6% year over year.

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