this actually is a philosophy that I have enbraced years ago, and have raised on this forum (I really hope that it doens't become mainstream - I am sick of things I like becoming fashinable for a year or two and then afterwords leaving me looking like I am a hanger on). I would love to have a closet of only 5 "designers" - one each for socks, undrewear, shirts, suits and coats, and shoes. with some stuff like ties, hats and scarfs aside. I would love to have all of my shirts of identical cut (actually, now I have a "work' shirt and a "dress" shirt, with the difference being that the "dress" shirts have contrasting collars and cuffs). I would love to have all of my suits of the same cut, in similar color scheme, and to only have a small number (actually, here I also am down to 2 cuts). I would love to be down to 5 perfect ties (here I have a long way to go). and, my intention is to have stuff that will last my whole life, more or less, adn will only be replaced when it falls appart. this is a process that is still developing, but I have no doubt that it will take hold in the next few years, as I weed out some of my existing stuff.
In college I had about a dozen white oxford bd's and 4 pairs of chinos. a few coats a few suits and black-tie and tailcoat. These days, I have a bit more, but as for ties, I wear about 5-8 consistently. 1 solid blue, 1 solid black, 1 maroon, 1 club tie, 1 school tie, and one or two Brooks stripes. Maybe one dotted tie. (white on blue).