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Businessmen Strip Off the Power Suit

As bankers fall out of fashion, so do their stodgy duds

By Clay Dillow,  Newser Staff

Posted May 14, 2009 8:48 AM CDT

(Newser) – To the list of casualties of the economic crisis, add the three-button power suit. And don't cry for the fashion industry—men are investing in replacements for their cookie-cutter wool security blankets, making men's clothing priced over $100 one of the few bright spots in the bleak retail landscape, reports the New York Times. "It’s the preppy chic these guys have been into, and they’re just refining it," says a Berdorf's exec.

“I have guys coming in here saying, ‘I don’t want to look like a banker anymore,’” one boutique owner says. GQ cover boy Zac Efron, clad in a slim-cut suit with a gingham shirt and knit tie, epitomizes the trend. “This time, guys have looked at the downturn, and said, ‘I have to look the part, find ways to compete,’” one analyst said.

Suits are offered for sale at a Jos. A. Bank store March 18, 2009 in Chicago, Illinois. The power suit, and the excess it symbolizes, is quickly falling out of style.
Suits are offered for sale at a Jos. A. Bank store March 18, 2009 in Chicago, Illinois. The power suit, and the excess it symbolizes, is quickly falling out of style.   (Getty Images)
The blazer with pants is edging out the three-button suit. A model in the men's Fall-Winter 2009/2010 collection by British fashion designer Paul Smith, in Paris, Sunday Jan. 25, 2009.
The blazer with pants is edging out the three-button suit. A model in the men's Fall-Winter 2009/2010 collection by British fashion designer Paul Smith, in Paris, Sunday Jan. 25, 2009.   (AP Photo/Remy de la Mauviniere)
A model presents an ensemble as part of the men's Fall-Winter 2009/2010 collection by British fashion designer Paul Smith, in Paris, Sunday Jan. 25, 2009.
A model presents an ensemble as part of the men's Fall-Winter 2009/2010 collection by British fashion designer Paul Smith, in Paris, Sunday Jan. 25, 2009.   (AP Photo/Remy de la Mauviniere)
Zac Efron, star of the film 17 Again, poses against the film's poster at the premiere of the film in Los Angeles, Tuesday, April 14, 2009.
Zac Efron, star of the film "17 Again," poses against the film's poster at the premiere of the film in Los Angeles, Tuesday, April 14, 2009.   (AP Photo/Chris Pizzello)
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That stodgy look is kind of dead. I used to wear a plain white shirt. Now I'm wearing stripes and checks, and ties that are a little more fun, too.
- Manhattan insurance broker Eric Blumencranz

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