Exactly what did old JFM mean by such a remark?  His less was always much more in terms of what he owned, turning up long-forgotten Troy Guild or Cole Haan or whatever from cobwebbed corners of his Georgian lair.  Ah, of course he meant the daily choice of schmutter; did he? 
I'm still trying to play the 'minimalist Ivy' game a dozen years from when I began.  Woof very kindly pointed me in the direction of a vintage clothing outlet here in the UK offering old Brooks at reasonable prices.  So, eight shirts may become a dozen. 
I'm just having some very damaged collars ('burst') 'turned' by a seamstress.  They'll probably have to become second best so Woof's tip is vital. 
I did 'Winding Down The Wardrobe' quite some years ago, when I stopped experimenting and began to work out what worked and what didn't.  So, less has become, I suppose, more on both counts: minimalist wardrobe, conservative (on the whole) choice of colours: suitable for a short-sighted, grey-haired male in his bleak northern fastness. 
Did anyone buy any of the old 'Smoking Cat' offerings?  Chiltern Street and Brick Lane?