So, apparently, do the wealthy, according to the New York Times:

Rather than rely on obvious logos, expensive products use more discreet markers, such as distinctive design or detailing. High-end consumers prefer markers of status that are not decipherable by the mainstream. These signal group identity only to others with the connoisseurship to recognize their insider standing.

In one study, fashion students were more likely than regular students to favor subtle signals for products visible to others, like handbags. But for private products less relevant to identity, like underwear and socks, there was no difference between the groups.

(via Marginal Revolution)