A prominent feature of contemporary fashion has been the mainstreaming of ‘pauperist’ style in which motifs of poverty such as worn materials and frayed hems are deliberately sought after as a new form of glamour. What began as an act of rebellion amon gst youth subcultures of the 1960s and ’70s has now become a widespread phenomenon. As will be argued in this paper, poverty chic has become a new form of status distinction that disavows its extravagance. Whereas in the past, superior social status was often indicated through ostentatious dress, now a ‘humbler’ sartorial style is preferred in an era marked by financial, political and environmental crises. The popularity of pauperist style today lies in the fact that it assuages the anxieties provoked by these crises through its conversion of poverty into an aesthetic style.