When Jordan Belfort, played by Leonardo DiCaprio in The Wolf of Wall Street, yells rabid encouragement to a roomful of amoral, pumped-up stockbrokers, his clothing is as eloquent as his words.
From the badly cut, big-shouldered suit he wears as a green junior to the expensively tailored Prussian blue suit in which he announces his departure from his company, with plenty of pinstripes and loud ties in between, the film’s costumes tell a story of increasing wealth and success – but a complete absence of trustworthiness.
Yet those who truly embrace the power in power-dressing can find it affects their career, their image and their self-perception.
So what is power-dressing today? Certainly those shoulder pads are decades behind us, and pinstripes have declined as well, according to the Savile Row tailor Richard James and his business partner Sean Dixon, even though they saw an increase in bespoke orders following the financial crisis of 2008.
“We found that people stopped buying pinstriped suits completely, because it made them think of bankers and the City,” says Mr James. “People were buying plain suits or Prince of Wales checks instead. It’s coming back in now.”
“Although actually, it’s being bought by people that aren’t in the financial industries,” adds Mr Dixon.
Bankers clearly aren’t ready to be too conspicuous yet.
Zachary Cefaratti, 26, an American risk officer at Dalma Capital Management in Dubai International Financial Centre, certainly believes that less is more when it comes to visible wealth – particularly that classic indicator of success: the timepiece.
“I feel that if you’re going to wear an expensive watch, you really don’t want most people to know the difference or you’ll find yourself being overcharged everywhere and attracting attention for the wrong reasons,” he argues. “The few people who can spot a vintage Patek Philippe are more likely to be the ones you actually want to impress.”
And it has been proven that those tiny, subtle details make a material difference in perceptions, according to the psychologist Ben Fletcher, professor of occupational and health psychology at the UK’s University of Hertfordshire.
He recently co-authored research on the first impressions that clothing can create, in which images of a man wearing either a bespoke suit and an off-the-peg suit, differing in minor details, were rated on confidence, success, trustworthiness, salary and flexibility. The man was rated more positively on all attributes apart from trustworthiness when pictured in the bespoke suit.
“Clothes give away much more than people think,” says Prof Fletcher. “My research shows that minor things in clothing can create good impressions – clothes that fit well, an extra bespoke detail here and there, or that bit of thought about coordination can make all the difference.”
For financiers this presents a real dilemma. “The [pinstripe] uniform signifies an occupation that is not well regarded at the moment, and the better the suit looks the more negative that impression,” adds Prof Fletcher. “And what is worse, the bankers themselves will take on the negative connotations of the uniform they wear in the way they feel and think.”
All this will come as no surprise to Mr Cefaratti, a Dubai resident for the past year, who takes his image very seriously. He has developed a style code by which to judge the characters of other financiers.
“In finance and banking, I feel there are two types of fashion: Stocks and Bonds,” he posits. “Stocks are more aggressive and louder, but more volatile and many of them crash and burn. Bonds are safer, steadier and more low-key – they represent a greater portion of the ‘capital structure’ of business attire, but don’t yield exciting results. Accessories bring everything together. The ‘Bonds’ tend to stick to buttoned cuffs, the ‘Stocks’ go for links.”
None of this is to put personal style aside – indeed, flair can make you memorable for the right reasons, and your choice of tailor, shirtmaker and shoemaker can be both influential and telling. In spite of his preference for Italian styling, Mr Cefaratti swears by Ascots & Chapels, a London-based tailor with several UAE stores.
However traditional the tailor, though, indulging personal style can mean walking a tightrope in business attire: good-natured sartorial rivalry on one side, flashy and tacky on the other.
“At least as a rich man, when I have to face my problems I show up in the back of a limo wearing a $2,000 suit and $40,000 gold watch,” yells the crooked Belfort in The Wolf of Wall Street, but Mr Cefaratti’s having none of it.
“The characters in The Wolf of Wall Street are the epitome of what to avoid,” he laments. “The gaudy penny stocks with broad pinstripes, gold watches and a complete lack of refinement or sophistication.”
business@thenational.ae
