I'm sure you smell lovely, Matt
It's also a cultural thing where people have certain expectations which business people have to meet to be taken seriously by clients.
For example, I went to a solicitor in Croydon - he was smartly dressed and had a reasonable looking office. Expectations met on that score. I also had the need of a notary in Thailand (to verify some official documents). The office was OK, but the guy was in shorts and a T-shirt. I guess it didn't matter - he did the job required at a very reasonable price - but I did notice his extremely casual appearance.
We also used a Thai legal firm (probably one of the leading ones) for other legal requirements and they were all extremely smartly dressed - to meet the expectations of their Western customers I wonder?
I must admit that when I have to do any face-to-face business, I always go smart-casual (formal business attire isn't appropriate) because I think people will base their impressions of me on how I've presented myself.
The Dragons usually expect people to wear suits and stuff. Are they right to expect that? Even Levi Roots was very smartly kitted out - and it was noticeable.