Like the little black dress in women’s fashion, the tuxedo does for a man what no other element of his wardrobe can. And for New Year’s Eve black tie affairs, it’s the way to go. The tuxedo – originally worn by residents of the giltedged, upstate New York town of Tuxedo Park – has been subject to change over the decades. But the the classic tuxedo has experienced enough of a renaissance to make Cole Porter smile.

At its most basic, a tuxedo is a standard suit made of black or midnight blue wool barathea cloth with lapels trimmed in silk satin or grosgrain. According to Joseph Barrato, CEO of Brioni, the Rome-based clothier with three stores in New York, men are best advised to steer clear of embellishments. “Classic elegance without fuss or fanciness is definitely the way to go for men when dressing in black tie,” Mr. Barrato said. “A man should complement a woman but never outshine her on formal occasions.”

At Brioni, the accessories that move are in keeping with tradition. “What sells best in our stores are classic, understated tuxedo shirts – with either batwing or lay-down collars – and black satin or grosgrain bowties and cummerbunds,” Mr. Barrato said. “White linen always works as a pocket square, and we purposely sew a slip stitch under the button hole on the lapel to encourage a man to wear a subtle flower boutonniere.”

THE SHIRT Formal shirts these days are as elegant as ever – now that the stiff bat-wing collar style (a fashion legacy of George Bryan “Beau” Brummell) is once again in style. Shirts can be of either a pique or pleated bib front, but the key is at the collar: The “wings” are always placed behind the bowtie, never in front or on top, a common mistake. The most luxurious formal shirts are made of pure cotton voile or fine broadcloth. Double barrel French cuffs are worth the extra price they fetch and always look elegant. In turn, cuff links are most elegant when stylishly discreet – simple ovals or circles of black onyx suffice.

CUMMERBUNDS Cummerbunds are strictly a matter of choice, but they are best worn with singlebreasted, peaked lapel tuxedo jackets. And the cummerbund pleats should always be facing up.(The folds were once used to conveniently conceal theater tickets.) Even more elegant under a tuxedo is a luxurious woven formal silk waistcoat. The most stylish ones are in subtle tones of gray, silver, or deep burgundy, and feature woven geometric motifs, raised stripes, or mini-checks.

EXTRA COLOR Always appropriate for evening attire is a silk or linen pocket square peeking from the breast pocket of a tuxedo jacket. White is always right, although holiday tones of gold, burgundy or emerald green silk can add a festive touch. Avoid the triple fashion faux pas of a matching tie, cummerbund, and pocket square.

SOUTH OF THE CUMMERBUND Need it be said that formal trousers are never cuffed? And that proper braces – in gray, black, or ivory – are an absolute necessity? As for formal shoes, patent leather is considered classic, whether as a lace-up or slip-on. For comfort and elegance, formal slippers in silk faille or velvet, either solid or with gold embroidered initials at the toe cap, are the ticket. Silk or lightweight wool formal hosiery – preferably over-the-calf – works best in solid black or a subtle pattern.

THE BAIT For a roguish finish, a silk or silk/cashmere scarf casually tossed about the neck or tucked in as an ascot looks superb peeking out from an all-black evening coat or trench.

And, lest one forget Mr. Barrato’s recommendation, the addition of a boutonniere in one’s lapel – red or white carnation only – is the perfect finishing touch, a gesture that would do the suave Cole Porter proud.