Big Brother's new housemate has been dubbed Posh Josh.
The nickname was coined after he told the group his Gucci trousers had cost £2,500.
He made the admission when Stuart asked him what his most expensive item was.
Paul and Bubble both yelled: "Two and a half grand!"
Josh also donned his special red swimming trunks to join the others in the hot tub.
A Big Brother spokesman said it was like a scene from Baywatch.
"There is no word to how much these fashion items cost, but memories of the great Hasselhoff sprang to mind as Josh made his way through the house to the garden in time for the first communal dip in the tub," said the spokesman.