J. Crew offers a nice selection of moderately priced, modern suits. H&M is even more downmarket, but the product is both comfortable and stylish. Regardless of wherever you pick up your suit, get it tailored - a slim, well-cut $400 suit from Banana Republic will still look better than a baggy, ill-fitting $4000 Prada suit.
You would have to define cheap. But for under $300, Indocho will construct a good quality custom suit.
I would definitely go to a store rather than buy one online. Some suits may be your size but won't fall on your shape correctly. Try
Men's Warehouse. They have suits for next to nothing, and they almost always have a deal or two going on (buy one suit, get one for $100, get a free shirt & tie, etc.) You may have to sacrifice top-notch material for price, but you can still look good for under $300.
Something to mention, yes you can find a less expensive suit from a number of places, but find a great tailor to get it fitting right. You can do your searching online and find one who has been reviewed highly.
Jos. A. Banks has nice suits and have been running some tremendous discounts lately.
J. Crew offers a nice selection of moderately priced, modern suits. H&M is even more downmarket, but the product is both comfortable and stylish. Regardless of wherever you pick up your suit, get it tailored - a slim, well-cut $400 suit from Banana Republic will still look better than a baggy, ill-fitting $4000 Prada suit.
Target. I'm not kidding. I have been buying suits for 10 years now and have spent up to $900 on nice suits. I'm telling you, next time you're in Target, check out the jackets for $60 and pants for $40 and you'll probably love them. They are sort of slim fitting, so they are a perfect fit if you're in pretty decent shape.
Express makes great slim-cut suits, if you can pull off a slim-cut suit. But the cut is superior to the materials or the stitching. That being said you'll certainly look modern and sharp!
A great (but possibly time consuming) way to find a cheap name-brand suit is to hunt through bargain stores like Marshalls, TJ Maxx, Ross, Loehmans, Burlington Coat Factory, etc. They typically have a lot of overflow or slightly irregular merchandise at discounted prices. Almost completely unlikely that they'll have anything slim-cut though.
You can also try this web site: http://www.gilt.com/
They have one or two sales going on at once for very high-end designers. But stock is generally low as this is overflow merchandise from higher-end department stores.
Finally, you can wait for a sale at a regular department store like Macys, Nordstrom, or Lord and Taylor. Nordstrom has half-yearly sales for men, and they just had their anniversary sale last month. Macys typically has a lot of sales depending on the time of year. I just bought a really nice Tommy Hilfiger slim-cut suit there for $200.
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There are alot of sellers on ebay that sell new Sean John, Ralph Lauren, Hugo Boss and other decent suits for between $150-250... stay away from the no name suits, as I have had a few bad experiences trying to get a diamond in the rough. But you cant go wrong with a brand new name brand suit as long as you know your size and are prepared to have it tailored.
I have used DeCalo Fashion in the past, and they have been great to work with.