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To quote Morrissey of The Smiths: "I wear black on the outside 'cause black is how I feel on the inside."

Black and inorganic looking.  Along with the "spacewear" look from Dolce & Gabbana, this looks very much like a throwback to the early New Wave movement from the late 1970s.  See David Bowie and esp. Klaus Nomi.
-- Deron Kawamoto

We’d still classify it as more of a late peak phenomenon, call it a drab version of Carnaby Street in 1968/1969. As The Elliott Wave Theorist has noted, flamboyance in men’s fashions generally comes at stock market peaks. We certainly see such a trend in some of the space suits and fur trimmed jackets at Prada’s Milan show. Designers say they “tried” to put color into the show but just couldn’t manage it. It’s that battle between bull and bear market forces, again. The latest flourish in men’s styles represents a bullish thrust, but as Socio Times illustrated here on September 29, the predominance of grey and black on the runways continues to point to an eventual victory for the darker side of social mood.  Reuters says Prada plans to offer shares to the public next year. But its own fashion scheme suggests that this effort will come too late to make it to market.

October 2006, EWFF
No matter how much leg they may show, a September 19 fashion article from the Washington Post observes that the fall lines are not about “sex appeal":
Clothes Reflect Dark Times
This fall, fashion takes a journey to the dark side. One industry watcher calls the new look “reflective chic.” It looks as if Jessica Simpson and Lindsay Lohan soon won’t have much to wear. The fall season’s runways were a sea of monochromatic, often monastic gray and black dresses, tops and jackets. There were some cheeky platform shoes in the mix, but on the whole, the shows made ritzy, revealing starlet style seem about as fashion-forward as parachute pants.

Designers have been churning out darker themes for some time. Of course, the public has yet to embrace them, but the stark contrast to, and steady movement away from, the colorful and revealing styles of 2000 when the NASDAQ and S&P reached their all-time highs is a powerful sign that the bear market is laying the groundwork for broad public acceptance of mostly longer skirts, darker colors and various body coverings of the last few years.