。
She doesn't wear cheap things.
Literal
She [topic-は] cheap-things [topic-は] doesn't-put-on.
身につける is a fixed expression — literally 'attach to one's body' — covering both 'wear' (clothes, accessories) and metaphorically 'acquire' (skills, habits, knowledge). Here it reads as the wearing sense. 安物 ('cheap thing/cheap goods') is built from 安い ('cheap') + 物 ('thing'); the contracted の→もの form is common in fixed compounds. Note the double は — the second contrastively highlights 安物 as the category being singled out: 'cheap things, [as opposed to nice things], she doesn't wear.'