Navy Blue Suits:

Navy Blue suits can be worn by anyone to pretty much any occasion. The most useful application for this color is the business world. These types of suits make powerful statements and are useful as power suits. Interviews and important business meetings are the driving forces behind this color

John T. Molloy, author of a masterful book on the business suit says these two things. Wear a pinstripe if your looking for more authority or dealing with the upper class. Toss on a non-pinstripe if you want to relate well with poor and middle class.

If you can only afford to buy only one color suit, it should most certainly be this shade.