Businessmen Strip Off the Power Suit

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.