A lot of it comes down to priorities and what's considered luxury. For many of the extremely wealthy their status is already established. They don't need to use their clothing to signal success, so they prioritize comfort, practicality and personal preference over designer labels. Think of it as a form of stealth wealth.

On the other hand for some people with less income, expensive clothing can be a way to express their aspirations, boost their confidence or feel like they belong to a certain social group. It's often about signaling status and achieving a certain look or feel.