If it doesn't increase in value - you can't sell it and make a profit - it a liability, not an asset. It may make you look like you're that chick, and it may make you feel good because you can afford it, but the truth is if you bought it for retail for $20, you can't sell it for $50.
Buy clothes with classic looks. Get a good pair of shoes, sneakers, and boots of quality and buy another pair when they wear out...meaning they can no longer be repaired. Fancy clothes don't equal wealth, self discipline does, which get more respect than new clothes.