I don't think there's a rule on this. For example, what is sometimes regarded as the "American business suit" - navy blazer and khakis - stacks a dark colour over a lighter colour. On the other hand, James (Connery) Bond wore a white-jacket, black-trousers tuxedo on Goldfinger (though this was...
I'm going out on a limb here, but I've seen that quote attributed to the godfather of all of us here - Beau Brummell.
As regards black suits, I have a couple; aside from the corduroy one with frock coat (!) my conventional lounge suit serves two purposes, both derived from the fact that black...
The shirts comment is important; his suits may not be Savile Row, but his shirts are Jermyn St. And what's more, are available as a limited edition:
http://www.retrotogo.com/2006/10/turnbull_asser_.html
...I've tried digging around for a price, I think I've found £245 (probably approx...
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