In Part I of our Million Dollar Man Series we discussed the image, style, and fashion choices of the affluent American man — more specifically his footwear choices. Today we continue our probing of the buying decisions of the millionaire man by analyzing his suiting preferences. Which brand name do wealthy men gravitate to and why? Do they wear custom suits or are they shopping in JCPenny? Let’s find out.
According to research conducting by Thomas Stanley, Ph. D. in “Stop Acting Rich and Start Living like a Real Millionaire” millionaire men prefer the following suiting options in descending order:
1. Hart Schaffner & Marx (11.5%) Considered by most millionaires as the best value for the price. The number one choice for senior corporate executives and those who earn seven-figure incomes. Also the suiting choice of President Barack Obama.
2. Brooks Brothers (10.7%) A millionaire staple. Worn by Abraham Lincoln and known for high-quality coupled with excellent customer service. The number one choice for multi-millionaires, attorneys and business owners.
3. Jos. A Banks (6.1%) The go-to choice for corporate middle managers and directors seeking a traditional fit.
5. Men’s Wearhouse Private Label & Nordstrom’s Private Label – Tie (3.7%)
Stay tuned for the third and final piece of the series to find out where millionaire men shop.
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