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Fortune

Emma Burleigh

Forget Ferraris and Chanel—wealthy Gen Z are splashing out on kombucha and spin classes instead

Luxury Assembly Millennials

Young rich couple exits plane. (Credit: Drazen_ / Getty Images)

Wealthy Gen Z and millennial shoppers aren’t reaching for Hermès Birkins—they’re booking flights and taking boutique workout classes instead. For the next generation of affluent shoppers, a new report says “luxury is no longer just about what you own.”

Young people are no longer striving to enjoy their wealth with huge mansions, fast cars, and luxe clothes. The richest Gen Zers and millennials are spending their money to have a fulfilling life with boutique workout classes and glitzy jet-setting.

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