The ultra-rich are turning to new status symbols that can’t be bought—and it’s killing Dior, Versace, and Burberry

Rich woman vacations, lounging on boat (Credit: Fiordaliso/Getty Images)

• The ultra-rich are turning to new ways to signal wealth as luxury dupes, weight-loss drugs, and cosmetic procedures become more accessible to the general public. Now, new ways of flaunting wealth have become the new standard. 

Having a Hermès Birkin was once the litmus test for being extremely wealthy: with years-long waitlists, and eye-boggling price tags, the purse was the ultimate symbol of luxury. Until Walmart started selling an aesthetically identical version for $80 instead of $25,000.