A suit, I think everyone is familiar with it, is most familiar type of clothing for every business man, whether it's a business meeting or a formal event, you need to wear a neat and tidy suit to win trust of others.
Until last century, not everyone could wear costumes. It took a long period of reforms to finally shape current model. The costume must start from era of Louis XIV in second half of 17th century. At that time, it did not have an Orthodox name. The long-sleeved coat and tights were inspired by modern three-piece suit. costume was also designed based on it.
After entering UK, costumes began to be improved, and some nobles at that time improved tuxedo for convenience of attending nightly social events. You know, a tuxedo has a strong sense of restraint after being worn for a long time, and it will always hold back your movements, so you always remember behavior of a gentleman. After tuxedo was improved, it became tailless jacket, also known as "Laonky Jack".
The rise of costumes began in 1980s. Under influence of economic boom at that time, traditional Western culture was valued. People began to pursue this gentleman's dress, and styles of dress became more and more varied. Casual, traditional, British style, etc., style changes are gradually increasing.
As costume culture becomes more and more accepted by public, whether in past or in future, costumes seem to have become a distinct culture and become best choice for men to go out to important events.