Are luxury brands not /fa/ for black people?

When people, especially white people, see a black person wearing a luxury brand, they assume it's either fake or stolen.

Thus, if you're a black person that's wearing a Rolex, even if it's an authentic rolex, people will automatically think it's fake, which means they think it looks tacky, thus by extension making the fit of any black person wearing a a luxury brand not /fa/.

Is this correct?